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Executive Briefing
FE NEWS SERVICE
ICICI shareholders approve ITC Classic merger: Equity shareholders and convertible debenture holders of ICICI have voted 99.95 per cent in favour of the merger of ITC Classic Finance with the company. Series I & II preference shareholders have voted 100 per cent in favour of the merger. The resolution for the merger was put forward at the EGM of ICICI held on Monday.RBI cancels Dadar Janata Sahakari Bank's licence: The RBI has cancelled the license of Mumbai-based Dadar Janata Sahakari Bank Ltd. A central bank release on Tuesday said considering its unsatisfactory financial position, the licence was cancelled on December 16, 1997, and the bank barred from conducting business. The order was passed in terms of the power vested in RBI under Section 22(4) of the Banking Regulation Act, 1949.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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