Majmudar & Partners represents Axis Bank Limited on its investment in Max Life Insurance Company Limited
Majmudar & Partners advised Axis Bank Limited, one of India’s largest private sector banks, on its acquisition of shares of Max Life Insurance Company Limited from Max Financial Services Limited and Mitsui Sumitomo Company Limited for INR95,75,00,000 (approx. US$14 million). Axis Bank now holds a 5.99% stake in Max Life Insurance, which is a leading life insurance company in India. The deal threw up complex insurance and foreign investment regulatory issues, which were successfully navigated by the team from Majmudar & Partners, led by Managing Partner, Akil Hirani.