Indiabulls Housing Finance sells lndiabulls Life Insurance

MUMBAI: Indiabulls Housing Finance on Saturday said that it has sold 100 per cent of its shareholding in “lndiabulls Life Insurance Company Limited”.

According to a BSE filing, it sold the non-operational company with “no business or license”, to SORIL Holdings and Ventures Limited (“SHVL”), at face value for an aggregate cash consideration of Rs 5 lakh.

“This transaction between the company and SHVL, being related parties, is at arms’ length,” the BSE filing said.