Analjit Singh on 15 January 2016 resigned as the Chairman of Max Financial Services Ltd following the demerger of Max India Ltd. However, Singh will continue to serve as Chairman of Max Ventures and Industries Ltd.
Singh will also be the Chairman Emeritus and a permanent invitee to the boards and committees of all Max Group companies.
Demerger of Max India Ltd
Singh's resignation came following the demerger of Max India Ltd into three listed corporate entities- Max Financial Services Ltd, Max India Ltd and Max Ventures and Industries Ltd. The demerger came into effect on 15 January 2016.
The Max Financial Services will handle the life insurance vertical. The Max India Ltd will manage investments in health and related businesses such as Max Healthcare, Max Bupa and Antara Senior Living.
While, Max Ventures and Industries will handle the investment in the manufacturing business, Max Speciality Films.
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Who: Analjit Singh
When: 15 January 2016