Indiabulls and Sogecap end their joint venture agreement

For undisclosed motives, Indiabulls and Sogecap have cancelled their joint venture agreement. Both companies had announced their life insurance partnership in April 2008. Indiabulls Financial Services obtained green light from Reserve Bank of India to detain 74% in the new entity's stakes, while Sogecap, a subsidiary of Société Générale held 26%. Indiabulls is prospecting the possibility of going solo with the move but does not discard the option of resorting to a new partner.