Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: empanelment :: Central Excise rule to resale the machines to a new company :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: cpt :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: ACCOUNTING STANDARD
 
 
« Mergers and Acquisitions »
 Is India a more conducive market for mergers than acquisitions?
 Decoding The Merger And Acquisitions Trends In Indian Startup Ecosystem
 India witnesses high level of merger and acquisition in online food delivery start-up space
 Financial services ripe for mergers and acquisitions
 Telecom M&As mean better spectrum utilisation, services: Govt
 Vodafone India-Idea Cellular merger deal gets CCI nod
 Surge in due diligence activity brings flood of business to big four
 As Reliance rolls out Jio Phone for 'free', mergers among smaller telcos may accelerate
 Building market institutions can help M&As move faster
 How corporate mergers and acquisitions impact small investors
 Merger control triggers and thresholds in India

ICICI BANK-BOR MERGER TO GET NOD TODAY; BOR STAFF ON 3-DAY STRIKE
June, 21st 2010

The proposed merger between ICICI Bank and Bank of Rajasthan (BoR) is likely to be approved at the extra ordinary general meetings (EGM) of both the banks to be held on Monday. ICICI Banks EGM will be held at Baroda.

Meanwhile, employees of Bank of Rajasthan have announced a three-day strike starting Monday to oppose the proposed merger between the two banks. Around 4,000 employees across 460 branches of the bank are expected to support the strike.

Earlier this month, BoR employees had gone on a two-day nationwide strike. The employee unions are opposing the merger as they feel it will destroy BoRs identity and will result in job losses.

The strike will be complete in all the branches of BoR and we have the support of all employees of the BoR. This merger is against the interests of BoR employees and will not benefit the BoR, All India Bank Employees Association secretary Vishwas Utagi.

Bank offered a swap ratio of 1:4.72 for the deal25 shares of ICICI Bank for 118 shares of Bank of Rajasthan.

The merger is expected to further strengthen the branch network of ICICI Bank, which is already the largest amongst Indian private sector banks.

ICICI Bank MD & CEO Chanda Kochhar had said the deal is a win-win situation for the shareholders. BoR promoter PK Tayal is unlikely to get a seat on the board of the resultant entity. Under the share-swap ratio, the Tayal group will receive 1.88 crore ICICI Bank shares for their 8.88 crore BoR shares.

ICICI Banks last acquisition was Maharashtra-based Sangli Bank in 2007.

The last major acquisition in the countrys private sector banking space was in 2008 when HDFC Bank acquired Centurion Bank of Punjab. BoR has a total business of over Rs 23,000 crore, as against nearly Rs 3,84,000-crore of ICICI Bank. BoR's turnover was Rs 1,507 crore in 2008-09, while that of ICICI Bank in 2009-10 was over Rs 33,000 crore.

Post merger, ICICI Bank's total business will cross Rs 4 lakh crore and its branch strength will be close to 2,500.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions