Polaris Financial Technology gets in-principle nod to demerge its Products Business

18 Mar 2014

Polaris Financial Technology’s board of directors at its meeting held on March 18, 2014 has given in-principle approval for demerging the Products Business Undertaking of the Company into a separate Listed Company.

The scheme/structure is subject to the approval by the various regulatory authorities like Stock Exchanges, SEBI, Madras High Court, Registrar of Companies, Shareholders and Creditors.

Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings.

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