.2 min read Last Improved: Aug 12 2024|9:17 PM IST.Kotak Mahindra Trust Monday mentioned Sonata Financial Private Ltd and also BSS Microfinance Ltd, each wholly-owned subsidiaries of the financial institution, at their corresponding panel conferences have actually approved a program of combination.As per the plan of combination permitted on Monday, Sonata would combine along with BSS Microfinance Ltd on a going concern manner, Kotak Mahindra Financial institution said in a governing submission.The plan will undergo the commendation of the respective investors as well as creditors of Sonata and BSS and also the commendation of the concerned National Provider Rule Tribunal (NCLT) as well as other regulative authorizations, it stated.The bundled total assets of Sonata and BSS is lower than 2 percent of the total assets of the banking company, as on March 31, 2024, it stated.Sonata as well as BSS Microfinance transaction goes to an arm's duration rate based upon assessment file obtained from an individual registered valuer, it stated.BSS will provide and also allocate to the shareholders of Sonata cooperate percentage of 1,931 reveals of stated value of Rs 10 each in BSS for every 10,000 allotments of stated value of Rs 10 each kept by them in Sonata according to scheme of intermixture, it pointed out.The system of combinations is actually in between pair of unlisted subsidiaries of the banking company and also the banking company is not a party to the scheme, it claimed.Consequently of the intermixture, it mentioned, there will be no adjustment in the shareholding pattern of the financial institution.BSS and Sonata serve as service contributors for the banking company as well as provide mini financial, unsecured tiny ticket loans as well as tiny value safeguarded loans to women consumers as well as individuals in behalf of the financial institution.Sonata's net worth was actually Rs 389 crore while BSS' stood at Rs 1,010 crore in the end of March 31, 2024.Kotak Mahindra Bank declared acquisition of Sonata Financing in February 2023. Declaration: Entities regulated by the Kotak loved ones have a notable holding in Organization Specification Pvt Ltd. Very First Released: Aug 12 2024|9:17 PM IST.