SAT allows lenders to sell Reliance General Insurance

Nippon India MF and Credit Suisse are likely to invite bids for Reliance General Insurance, whose shares are held by IDBI Trusteeship. Current foreign direct investment norms prohibit non-residents from owning more than 49% in an insurer.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/sat-allows-lenders-to-sell-reliance-general-insurance/articleshow/74374965.cms