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
Mumbai: Securities and Exchange Board of India (Sebi) is examining allegations made by some minority shareholders of ICICI Securities that they were coerced by the relationship managers (RMs) of its parent ICICI Bank to vote in favour of a proposal to delist the stock broking arm. These small investors have also moved the company law … Read more
The Securities and Exchange Board of India(Sebi) Monday directed NSE to appoint a valuer to carry out the valuation of related party transactions entered into between Linde India and Praxair India, following complaints from minority shareholders. NSE has to share the valuation report with Sebi and the company. Within two weeks of receiving the valuation … Read more
Mumbai: Minority shareholders of ICICI Securities (I-Sec) led by Bengaluru-based investment manager Manu Rishi Gupta have filed a class action suit with the Delhi bench of the National Company Law Tribunal (NCLT) against ICICI Bank’s bid to delist its broking arm. The private lender’s scheme of arrangement to delist ICICI Securities received approval from the … 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 is under fire for allegedly coaxing minority shareholders of ICICI Securities (I-Sec) to support the private lender’s proposal to delist the broking and investment banking arm. Shareholders of ICICI Securities claimed on social media that the bank’s executives contacted them directly, asking them to vote in favour of the resolution that proposes … Read more
