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BoR's shareholders defy management, to go ahead with voting

BoR's shareholders defy management, to go ahead with voting

Adding another twist to the takeover story between Bank of Rajasthan (BoR) and ICICI bank, BoR's shareholders defied the call of management to call off an EGM and go ahead with their voting.

The EGM or the Extraordinary General Meeting was first called by the BoR management and later called it off. They brought a stay order from a court on the same.

The incident took place just moments before the EGM was to start. At this moment, the Company Secretary said that the management has got a stay order and do not want the voting to take place.

On BSE, BoR Rises 10pc, While ICICI Bank Decreases 0.34 pc

On BSE, BoR Rises 10pc, While ICICI Bank Decreases 0.34 pc

It has been reported that today, after departure with profits at early morning, private sector lender ICICI Bank's shares settled 0.34% down at Rs. 832 on BSE, this was a day after it received sanction from the board to amalgamate with the Bank of Rajasthan.

But in contrast, the Bank of Rajasthan rose 10 per cent to close at a one-year high rank of Rs. 158.80 on the Bombay Stock Exchange. It is said that 84% has been gained by BoR in the preceding five trading sessions.

Bank of Rajasthan staff will protest the merger with ICICI

Bank of Rajasthan staff will protest the merger with ICICI

The employees of Bank of Rajasthan (BoR) have informed that they have launched an agitation to protest against the banks proposed merge with ICICI Bank. Earlier it was in news that the country's largest private sector bank, ICICI Bank and the BoR are going for a merge soon.

The ICICI Bank has announced that it has entered in to an agreement with the shareholders of BoR for the merge. However, there has been no reaction from the Jaipur-based lender.