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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (9277)	11/3/1999 2:59:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 12475

Max India , New York Life plan JV maxindia.com Wednesday November 3, 2:30 am Eastern Time (Note: this article is ``in progress'; there will likely be an update soon.) BOMBAY, Nov 3 (Reuters) - Max India Ltd said it signed an agreement on Wednesday with New York Life International Inc to form a joint venture to enter India's life insurance business once the government opens it to private and foreign firms.. ``It is currently proposed that Max India will have 74 percent and New York Life International will subscribe to 26 percent of the equity,' the company said in a statement. It said the joint venture will apply for a licence to the Insurance Regulatory and Development Authority when the state-monopoly sector is opened up. The federal government has presented to parliament a draft bill to deregulate the sector. (Note: this article is ``in progress'; there will likely be an update soon.)