MFSL definition

MFSL has the meaning assigned to such a term in Clause 1.1.2; For the avoidance of doubt, it is clarified that the term “MFSL” when used in this Scheme (i) in the context of the amalgamation contemplated in Part-III of this Scheme, means MFSL, as it exists immediately prior to this Scheme becoming effective; (ii) in the context of the demerger contemplated in Part-IV of this Scheme, means MFSL post the amalgamation of Max Life into and with MFSL, but prior to the demerger of the Life Insurance Undertaking contemplated in Part-IV of this Scheme; and (iii) in the context of the amalgamation contemplated in Part-V of this Scheme, means MFSL post the demerger of the Life Insurance Undertaking and amalgamation of the Life Insurance Undertaking into and with HDFC Life but prior to the amalgamation contemplated in Part-V of this Scheme;
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Examples of MFSL in a sentence

  • Other than holding investment in Max Life, MFSL also has certain small value non insurance assets / businesses.

  • HDFC Life has recognized that the “Promoters” and “Promoter Group” of MFSL, namely the Persons set forth in Schedule 1 (“Relevant Persons”) have significant goodwill, knowledge, and expertise in the insurance sector, and hence, the ability to set up a successful competing business, either directly or indirectly, which would impair the commercial viability of the intended outcome of this Scheme.

  • MFSL represents and warrants that it is a limited partnership validly existing under the laws of the State of Texas.

  • Public Shareholders of MFSL and Max India shall be entitled to vote through postal ballot and e-voting and MFSL and Max India shall make the requisite arrangements in this regard.

  • HDFC Life has therefore requested the Relevant Persons to, and the Relevant Persons have agreed to, enter into the non- compete and non-solicit arrangement, to protect the interests of HDFC Life, its shareholders (including the Public Shareholders of MFSL who would become shareholders of HDFC Life as a consequence of the consideration shares issued by HDFC Life to such shareholders in terms of this Scheme) and the success of this Scheme.

  • Post the demerger of the Life Insurance Undertaking into and with HDFC Life, MFSL would be left with certain residuary non insurance assets / businesses.

  • MFSL and Max India shall act upon this Scheme only if the votes cast by their respective Public Shareholders in favor of this Scheme are more than the number of votes cast by the Public Shareholders against it as required under the SEBI Circular No. CIR/CFD/CMD/16/2015 dated November 30, 2015.

  • Accordingly, Max India, another Max group entity having diversified businesses, seeks to subsume the residuary non insurance assets / business and the remaining employees of MFSL.

  • The approval of the shareholders and creditors of MFSL accorded for this Scheme shall also constitute approval for reduction of capital reserves / revenue reserves / securities premium account in accordance with Section 100 of the 1956 Act or such other equivalent provision of the 2013 Act, as applicable, and accordingly no separate approval / consent shall be necessary from such shareholders / creditors.

  • For the purpose of the aforesaid reduction, separate applications under Section 100 of the 1956 Act or such other equivalent provision of the 2013 Act, as applicable, may, if required, be filed by MFSL before the Court.

Related to MFSL

  • AFSL means Australian Financial Services Licence.

  • Intel means Intel Corporation, a Delaware corporation.

  • SCI has the meaning set forth with respect thereto in the preamble. ---

  • CSDCC means the China Securities Depository and Clearing Co., Ltd. “CSRC” means the China Securities Regulatory Commission.

  • BTCo means Bankers Trust Company, in its individual capacity, and any successor corporation thereto by merger, consolidation or otherwise.