EbixCash on Tuesday announced that its operations in India will not be affected by the Chapter 11 process in the US. “The Chapter 11 proceedings apply to Ebix entities in the US only and Ebix’s approximately 200 affiliates outside the US are not included in the US-only Chapter 11 filing and will continue to operate normally,” the company said in a statement.
EbixCash companies in India, besides all international subsidiaries and their franchisees around the world are not included in the Chapter 11 filing. The company has strong standalone 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.
The company has been continually profitable over the years and is committed to the growth of its businesses and helping take the industry forward. EbixCash and all its subsidiary companies will continue servicing its existing customers, vendors, partners, and other stakeholders in the ordinary course of business.