In a tweet today, CCI said that it "approves increase in shareholding of Invesco Hong Kong in Religare AMC and Religare Trustee from 49 per cent to 100 per cent".
Religare did not disclose the exact reasons for the sale, but sources said it could be due to promoters wanting to monetise some assets to meet other financial obligations.
Shachindra Nath, Group CEO, Religare Enterprises says Budget has the ability to unleash India‘s growth potential in the coming years and make it a preferred investment destination for global investors
The cut in excise duties on capital goods, consumer durables, and vehicles including cars, two-wheelers and commercial vehicles is a positive.
Religare Invesco Mutual Fund announces changes, with effect from December 02, 2013.
Religare Enterprises Group CEO Shachindra Nath said: "The partnership with Macquarie has been fruitful. Macquarie has decided to exit the wealth management business from Asia including India and this has created for us the opportunity to further consolidate our financial services platform in India."
Religare Enterprise's group CEO Shachindra Nath, explains on CNBC-TV18, that the company stands a high chance of being granted a licence as it has Rs, 13,000 crore in assets and is focused on the SME sector.
The International Finance Corporation (IFC), part of the World Bank Group, today said it is open to the idea of partnering with Religare Enterprises in its proposed banking foray.
Religare Group CEO Shachindra Nath, told CNBC-TV18 about his expectations from the Budget and what investor confidence and sentiment, both domestic and international looks like in the market right now.