A shareholder has approached the NCLAT challenging the NCLT’s approval of ICICI Securities’ delisting application. The appeal cites misapplication of regulations, fraudulent voting, and non-transparency concerns. Quantum Mutual Fund and minority shareholders argue that the share swap negatively impacts them. An investor has also moved the Bombay High Court against SEBI’s decision.
NCLAT upholds ICICI Securities delisting, dismisses minority shareholder objections
The NCLAT upheld the NCLT’s approval of ICICI Securities’ delisting, dismissing appeals by Quantum Mutual Fund and Manu Rishi Guptha. The tribunal ruled that objections
March 10, 2025