.2 min read Last Upgraded: Aug 12 2024|9:17 PM IST.Kotak Mahindra Trust Monday stated Sonata Money Private Ltd as well as BSS Microfinance Ltd, both wholly-owned subsidiaries of the financial institution, at their particular panel conferences have actually authorized a system of intermixture.Based on the system of intermixture permitted on Monday, Sonata will combine with BSS Microfinance Ltd on a going issue manner, Kotak Mahindra Bank stated in a regulative submitting.The plan would be subject to the commendation of the particular investors and also financial institutions of Sonata and BSS as well as the commendation of the anxious National Firm Rule Tribunal (NCLT) as well as various other governing authorizations, it stated.The consolidated total assets of Sonata and also BSS is less than 2 per-cent of the net worth of the financial institution, as on March 31, 2024, it claimed.Sonata and also BSS Microfinance purchase goes to an upper arm's span price based upon evaluation record gotten coming from a private authorized valuer, it pointed out.BSS would certainly issue and also set aside to the investors of Sonata shares in portion of 1,931 allotments of face value of Rs 10 each in BSS for every 10,000 reveals of stated value of Rs 10 each kept by all of them in Sonata according to plan of intermixture, it pointed out.The scheme of combinations is actually between 2 unlisted subsidiaries of the bank and also the financial institution is not an event to the plan, it mentioned.Consequently of the combination, it pointed out, there will be no adjustment in the shareholding pattern of the bank.BSS and Sonata serve as organization correspondents for the financial institution and give micro money management, unsafe little ticket financings and small worth secured car loans to females customers and people on behalf of the lending institution.Sonata's total assets was actually Rs 389 crore while BSS' stood up at Rs 1,010 crore at the end of March 31, 2024.Kotak Mahindra Banking company introduced accomplishment of Sonata Finance in February 2023. Declaration: Companies handled by the Kotak family members have a considerable holding in Company Criterion Pvt Ltd. Very First Posted: Aug 12 2024|9:17 PM IST.