NCLAT upholds ICICI Securities delisting, dismisses shareholders challenge
2 weeks, 6 days ago

NCLAT upholds ICICI Securities delisting, dismisses shareholders challenge

Live Mint  

The companies appeal court on Monday upheld the delisting of ICICI Securities Ltd from the stock exchanges, rejecting challenges by shareholders Quantum Mutual Fund and an individual investor. Quantum Mutual Fund had approached NCLAT in September to oppose ICICI Securities' delisting, citing concerns over its impact on minority shareholders. The shareholders' concerns Concerns over the stock’s actual valuation were raised, as ICICI Securities' share price at the time of the delisting announcement was slightly above its initial public offering price of ₹520. The minority shareholders also cited an instance in which the markets regulator had issued a warning to ICICI Bank regarding its outreach to investors about the delisting of ICICI Securities.

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NCLAT upholds ICICI Sec delisting, dismisses appeal against NCLT order
Trending News
3 weeks ago

NCLAT upholds ICICI Sec delisting, dismisses appeal against NCLT order

New Indian Express  

In a major relief for ICICI Bank and ICICI Securities, the National Company Law Appellate Tribunal on Monday dismissed petitions challenging ICICI Securities’ delisting process from the stock exchanges. A Delhi-based two-member NCLAT bench, comprising Justice Yogesh Khanna and Technical Member Ajay Das Mehrotra, dismissed petitions filed by Quantum Mutual Fund and Manu Rishi Gupta, a public shareholder. Quantum and …

NCLAT issues notice to ICICI Securities in delisting case
5 months, 4 weeks ago

NCLAT issues notice to ICICI Securities in delisting case

Live Mint  

Mumbai: The National Company Law Appellate Tribunal on Tuesday issued a notice to ICICI Securities following an appeal by the minority shareholders against the tribunal's order approving the financial broking firm's delisting. {{^adFree}} {{/adFree}} A bench, led by justices Yogesh Khanna and Ajai Das Mehrotra, were hearing petitions filed by Manu Rishi Gupta and Quantum Mutual Fund, the two minority …

NCLT okays ICICI Securities delisting, stock falls over 5.4%
7 months, 1 week ago

NCLT okays ICICI Securities delisting, stock falls over 5.4%

New Indian Express  

MUMBAI: The Mumbai bench of the National Company Law Tribunal has green-lighted the delisting plan of ICICI Securities, the largest full service brokerage in terms of demat accounts, setting aside the objections raised by two minority shareholders. With delisting, ICICI Securities will be a wholly-owned subsidiary of parent ICICI Bank, which was criticised by regulator Sebi for the way it …

SEBI warns ICICI Bank for ‘influencing’ shareholders
9 months, 3 weeks ago

SEBI warns ICICI Bank for ‘influencing’ shareholders

New Indian Express  

NEW DELHI: The Securities and Exchange Board of India has snubbed ICICI Bank for coaxing shareholders of ICICI Securities and trying to influence them to vote in favour of delisting of the latter. The regulator undertook an investigation based on complaints of some shareholders of I-Sec, who alleged the bank in the pretext of an outreach programme advised them to …

SEBI issues warning to ICICI bank for trying to influence shareholders to vote for delisting ICICI Securities
9 months, 3 weeks ago

SEBI issues warning to ICICI bank for trying to influence shareholders to vote for delisting ICICI Securities

Hindustan Times  

The Securities Exchange Board of India issued an administrative warning to ICICI Bank for trying to influence shareholders to vote in favour of delisting ICICI securities, ANI reported. A bird flies past the facade of the ICICI bank head office in Mumbai The market regulator, in a letter to the bank dated June 6, noted that it received several complaints …

ICICI Bank, ICICI Securities issue clarifications over ‘concerted campaign’ against delisting proposal
1 year ago

ICICI Bank, ICICI Securities issue clarifications over ‘concerted campaign’ against delisting proposal

Live Mint  

ICICI Bank clarified on Thursday, March 28 that it is undertaking efforts to reach each out to equity shareholders to explain proposed delisting scheme of ICICI Securities. "It may also be noted that four independent proxy advisory firms recommended voting for the resolution to approve the proposed Scheme to shareholders of both ICICI Bank and ICICI Securities. However, a concerted …

ICICI Securities falls over 5% as shareholders approve delisting proposal
1 year ago

ICICI Securities falls over 5% as shareholders approve delisting proposal

Hindustan Times  

ICICI Securities share price declined over 4 per cent today as shareholders approved a proposal to delist ICICI Securities Ltd, following which it will become a wholly-owned subsidiary of ICICI Bank. ICICI Securities share price today Today, ICICI Securities share price opened at ₹720.80 against the previous close of ₹741.10. ICICI Securities delisting: All you need to know Institutional shareholders …

IT, Bank, Auto lift Sensex by 800 pts, Nifty by 215 pts to close at record highs
1 year, 9 months ago

IT, Bank, Auto lift Sensex by 800 pts, Nifty by 215 pts to close at record highs

Live Mint  

Share Market Today: Equity benchmarks hit new highs on Friday as robust foreign fund inflows and the advance of the southwest monsoon boosted investor sentiment. Nifty Bank remains stable in today's session as it jumps 0.8% with most stocks trading in the green View Full Image Nifty bank Viceroy Properties and Knight Frank perspectives on Mumbai Home Sales Data Mumbai …

ICICI Bank approves delisting of brokerage
1 year, 9 months ago

ICICI Bank approves delisting of brokerage

Live Mint  

Mumbai: Private sector lender ICICI Bank said on Thursday that its board has approved the delisting of the equity shares of its stockbroking arm ICICI Securities. As part of the deal, shareholders of ICICI Securities will receive 67 shares of ICICI Bank for every 100 shares held in the broking subsidiary. “Both companies will be able to leverage the strong …

ICICI Securities shareholders vote in favour of reappointment of Chanda Kochhar as company's chairperson
6 years, 6 months ago

ICICI Securities shareholders vote in favour of reappointment of Chanda Kochhar as company's chairperson

Firstpost  

Kochhar received nearly 97.7 percent of the votes in favour of her reappointment, while nearly 2.32 percent votes were cast against her, ICICI Securities said New Delhi: Shareholders of ICICI Securities have voted in favour of reappointing Chanda Kochhar as the company’s Chairperson, as per a regulatory filing. The shareholders of ICICI Securities at its 23rd annual general meeting held …

Why Sebi’s ‘advice’ to ICICI Prudential AMC is troubling
6 years, 8 months ago

Why Sebi’s ‘advice’ to ICICI Prudential AMC is troubling

Live Mint  

Apparently, Securities and Exchange Board of India has found that ICICI Prudential Asset Management Co. Ltd bailed out the ICICI Securities Ltd initial public offering, and short-changed its unitholders in the process. And so, according to a leaked communiqué from Sebi, ICICI’s mutual fund arm put in a last-minute bid of ₹ 240 crore. Including the anchor book, the size …

3 foreign investors trim shareholdings in ICICI Bank amid governance concerns
6 years, 9 months ago

3 foreign investors trim shareholdings in ICICI Bank amid governance concerns

Live Mint  

Mumbai: The troubles for the ICICI Bank Ltd board go beyond appointing a successor to the incumbent chief executive Chanda Kochhar, with India’s second largest private bank struggling to retain the faith of foreign portfolio investors. At least three foreign investors, including Baillie Gifford and Co., Abu Dhabi Investment Council, Noosa, and Commonwealth Bank of Australia, have cut their shareholdings …

Videocon loan case: Embattled ICICI board plans investor outreach
6 years, 11 months ago

Videocon loan case: Embattled ICICI board plans investor outreach

Live Mint  

Mumbai: ICICI Bank Ltd’s board is preparing a plan that includes more public disclosures related to conflict-of-interest allegations against its chief executive Chanda Kochhar with the objective of allaying the growing concerns of its shareholders and restoring their confidence in the bank. The board plans to look afresh at disclosures that the bank has already made after its initial statement …

ICICI Bank shares fall nearly 6% after CBI inquiry into Videocon loan
6 years, 11 months ago

ICICI Bank shares fall nearly 6% after CBI inquiry into Videocon loan

Live Mint  

Mumbai: Shares of ICICI Bank Ltd, India’s second largest private lender by asset, on Monday slumped nearly 6%, its biggest single day drop since August 2015, after the Central Bureau of Investigation launched a preliminary enquiry to verify the bank’s Rs40,000 crore loan to Videocon group. CBI has registered a preliminary enquiry against Deepak Kochhar, husband of ICICI Bank managing …

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