NOIDA, INDIA – December 19, 2023 – EbixCash Limited today announced that its operations in India will not be affected, by the strategic US -only Chapter 11 process undertaken in the United States by Ebix, Inc.
EbixCash reiterated that the Chapter 11 proceedings apply to Ebix entities in the United States only and Ebix’s approximately 200 affiliates outside the United States are not included in the U.S.-only Chapter 11 filing and will continue to operate normally. EbixCash companies in India, besides all international subsidiaries and their franchisees around the world are not included in the Chapter 11 filing. All worldwide operations of the Company will continue to operate in the ordinary course and without any interruption.
EbixCash has strong stand alone financials and governance, with its cash flows solely available for its own needs. Chapter 11 process mandates insulation between the international companies and the US company in terms of any intercompany dealings.