NCLT approves merger of IDFC with IDFC FIRST Bank

The National Company Law Tribunal (NCLT) has approved the merger of IDFC Financial Holding Company with IDFC Limited, leading to a merger of this combined entity with IDFC FIRST Bank. Most of the bank's shareholders approved the merger in May. Under the reverse merger plan, IDFC shareholders will receive 155 shares for every 100 shares they hold in the bank.