.2 min read through Final Upgraded: Aug 12 2024|9:17 PM IST.Kotak Mahindra Rely on Monday claimed Sonata Finance Private Ltd and BSS Microfinance Ltd, each wholly-owned subsidiaries of the bank, at their corresponding panel conferences have authorized a plan of intermixture.According to the system of combinations accepted on Monday, Sonata will combine with BSS Microfinance Ltd on a going problem basis, Kotak Mahindra Financial institution mentioned in a regulatory submission.The program will go through the commendation of the particular investors and also lenders of Sonata and also BSS and also the commendation of the concerned National Business Regulation Tribunal (NCLT) as well as other regulative authorizations, it stated.The mixed net worth of Sonata and BSS is lower than 2 percent of the total assets of the financial institution, as on March 31, 2024, it claimed.Sonata as well as BSS Microfinance purchase goes to an arm's duration rate based on valuation document gotten from an independent registered valuer, it said.BSS would provide as well as allot to the shareholders of Sonata shares in proportion of 1,931 allotments of stated value of Rs 10 each in BSS for each 10,000 shares of face value of Rs 10 each held by all of them in Sonata according to system of combination, it said.The scheme of intermixture is actually in between two unlisted subsidiaries of the financial institution and the bank is not a celebration to the program, it stated.Therefore of this particular intermixture, it pointed out, there would be no change in the shareholding pattern of the banking company.BSS and also Sonata work as service correspondents for the bank as well as deliver small financial, unsecured tiny ticket fundings and small value gotten financings to females consumers as well as individuals on behalf of the financial institution.Sonata's net worth was actually Rs 389 crore while BSS' stood at Rs 1,010 crore by the end of March 31, 2024.Kotak Mahindra Banking company introduced acquisition of Sonata Finance in February 2023. Acknowledgment: Companies handled by the Kotak family members have a substantial holding in Organization Requirement Pvt Ltd. First Published: Aug 12 2024|9:17 PM IST.