Concept:A company qualifies as a subsidiary of another company only if the parent company holds more than
50% of its shares.
Explanation:ICICI Lombard General Insurance has recently ceased to be a subsidiary of ICICI Bank.
This change took place after Bharti AXA General Insurance was merged with ICICI Lombard.
Following this merger, the shareholding of ICICI Bank in ICICI Lombard came down to
48%.
Since a parent company must hold more than
50% shares to treat a company as its subsidiary, ICICI Bank no longer meets this condition.
Clearly,
48%<50%, so ICICI Bank has lost its majority stake in ICICI Lombard.
As a result, ICICI Lombard no longer functions as a subsidiary of ICICI Bank.
Therefore, among the given options, ICICI Lombard is the correct answer.
Answer:ICICI Lombard (Option C)