A shareholder of ICICI Securities has approached the National Company Law Appellate Tribunal (NCLAT) challenging the National Company Law Tribunal’s order approving the company’s delisting application from the stock exchanges. On August 21, the NCLT’s Mumbai bench dismissed two objections to the delisting scheme and allowed delisting. On Friday, Bengaluru-based investment manager Manu Rishi Guptha … Read more
“Why should we say that once you are listed you can never leave. This isn’t Hotel California. This is a rich, vibrant market. We welcome people, but if for some reason they need to exit, they must be able to” Sebi chairperson Madhabi Puri Buch said this week. And why shouldn’t we all agree with … Read more
Market regulator Securities and Exchange Board of India (Sebi) has issued a warning to ICICI Bank on the outreach undertaken by the lender regarding the delisting of ICICI Securities. The regulator said the outreach programme was done with the objective of maximising participation in the voting process. “The outreach was done in face of a … Read more
Mumbai: Sixteen domestic mutual funds, which held shares of ICICI Securities, voted in favour of parent ICICI Bank’s proposal to delist the broking arm, according to data compiled by primeinfobase.com. Seven fund houses opposed the plan in the voting process held on March 27, the data showed. The terms of the proposal were controversial with … Read more
Minority shareholders of ICICI Securities led by Bengaluru-based investment manager Manu Rishi Guptha have filed a class action suit with National Company Law Tribunal (NCLT) against ICICI Bank’s bid to delist its broking arm from the Indian bourses. Last month, nearly 72% shareholders approved the scheme of arrangement for the merger of ICICI Securities with … Read more
Mumbai: ICICI Bank’s contentious bid to delist ICICI Securities (I-Sec) has been cleared by the broking arm’s public shareholders. In the voting process that ended on March 27, investors holding 71.89% of the lender’s shares favoured the proposal, while those owning 28.11% voted against it, paving the way for ICICI Securities’ delisting from the bourses. … Read more
