JSA on December, 29, 2022 has advised IDBI AMC,IDBI Trustee, LIC AMC and LIC Trustee in signing a scheme transfer agreement (“STA”) for transfer of all existing mutual fund schemes of IDBI Mutual fund to LIC Mutual Fund. The transaction is yet to be completed.
The proposed transaction will result in:
1. IDBI trustee handing over trusteeship of IDBI MF Schemes to LIC trustee.
2. Asset management rights over the IDBI mutual fund schemes will be transferred by IDBI AMC to LIC AMC.
3. The transferred mutual fund schemes will form part of LIC mutual fund.
The transaction team comprised of
Rinku Ambekar – Partner
Vaibhav Choukse – Partner, Competition law
Ela Bali – Principal Associate
Senior Associate – Aditi Khanna
Reshma Oak – Senior Associate
Piyush Langade – Associate