Deal talks between Max Financial Services and Hero Corporate Services hit a roadblock

Max Financial Services has yet again found itself in an uncertain situation on its transaction with Sunil Munjal’s Hero Corporate Services. The deal involving Hero Corporate buying a partial stake from Analjit Singh in Max Financial Services has hit a roadblock, sources privy to the developments told CNBC-TV18.

Hero Corporate and Analjit Singh were engaged in an 'exclusive’ negotiations to decide the deal contours, according to multiple people familiar with the development. The exclusivity period is valid till February 8, 2020.

Sunil Munjal was also in discussion with a few private equity players including US private equity firm Bain Capital for a tie-up to execute the said transaction.