MAXF have put up to withdraw the application for share swap & purchase transaction for MSI's stake in Max Life for MAXF shares as agreement for finalization of definitive terms were not reached. MSI will remain as JV partner of Max Life continuing existing arrangements. Transaction arrangement may not be required for reverse merger but some issues have to be ironed out like a one-off pending contingent liability from erstwhile telecom investment. Management also showcased confidence on being strongly associated with Axis but are still to reach any arrangement for future course of action. Key...