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The Delhi High Court decided to sentence Max Group founder’s son Veer Singh to three months in jail for contempt of court, issuing an arrest warrant against him.
Ignoring the woman's allegations against Veer Singh would be akin to giving a license to licentious men to break the law, the court opined.
Singh referred to a plea filed by his wife with the NCLT.
Diversified Max Group has sold a 13 per cent stake in Max Life Insurance Company to the country's third largest private sector lender Axis Bank, which will now be a co-promoter of the insurer. The completion of the deal comes more than a year after Max Financial Services and Axis Bank announced their intent to have a strategic partnership for the former's insurance venture. Financial details were not disclosed. Max Financial Services -- the holding company of Max Life -- has offloaded 12.99 per cent stake in the insurer to Axis Bank and its subsidiaries -- Axis Capital and Axis Securities...