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    Acquisition: of Bank of Rajasthan by ICICI Bank

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    Ankit Gupta
    This document summarizes the acquisition of Bank of Rajasthan by ICICI Bank. It was a horizontal acquisition allowing ICICI Bank to gain access to Bank of Rajasthan's 3 million customers and 463 branches. The acquisition faced some legal hurdles, including an employee union strike and a court case challenging an extraordinary general meeting to approve the merger. After the merger, another legal issue arose when the Rajasthan High Court issued notices in response to a petition against the merger.

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    Acquisition: of Bank of Rajasthan by ICICI Bank

    Uploaded by

    Ankit Gupta
    24 views13 pages
    This document summarizes the acquisition of Bank of Rajasthan by ICICI Bank. It was a horizontal acquisition allowing ICICI Bank to gain access to Bank of Rajasthan's 3 million customers and 463 branches. The acquisition faced some legal hurdles, including an employee union strike and a court case challenging an extraordinary general meeting to approve the merger. After the merger, another legal issue arose when the Rajasthan High Court issued notices in response to a petition against the merger.

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    Mergericicirajasthanbank Latest

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    This document summarizes the acquisition of Bank of Rajasthan by ICICI Bank. It was a horizontal acquisition allowing ICICI Bank to gain access to Bank of Rajasthan's 3 million customers and 463 branches. The acquisition faced some legal hurdles, including an employee union strike and a court case challenging an extraordinary general meeting to approve the merger. After the merger, another legal issue arose when the Rajasthan High Court issued notices in response to a petition against the merger.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    24 views13 pages

    Acquisition: of Bank of Rajasthan by ICICI Bank

    Uploaded by

    Ankit Gupta
    This document summarizes the acquisition of Bank of Rajasthan by ICICI Bank. It was a horizontal acquisition allowing ICICI Bank to gain access to Bank of Rajasthan's 3 million customers and 463 branches. The acquisition faced some legal hurdles, including an employee union strike and a court case challenging an extraordinary general meeting to approve the merger. After the merger, another legal issue arose when the Rajasthan High Court issued notices in response to a petition against the merger.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 13

    Acquisition

    of Bank of Rajasthan By ICICI Bank

    Presented By: Ankit Gupta Roll No. 5

    Swap raft Bank of Rajasthan L171 Branches ATV 2,009 5719


    4D8*

    >S shares of ICIC: Ban< for 118 skzires of Bank or Rapiditan


    ICICI Bank to cross 2,440 post-merger

    111*

    Ho of employees Cross NPA (%)


    capes Adoquacy (%)

    34.596* 506
    19.41

    law bock O acre) LowiPastoopolits (56)


    'Ai of WM+ 9009;

    LBV00 4L7

    4075' 20 113 # 8,100# 77.4"

    ausinEssienlObele (lb more) 1,154 e kid December MCA N

    532'

    L5% d that of ICICI flank's oils o Tor ICICI dank after Serif Bark Bank of Madura

    nther ficurn are as of March 31,901;1

    Type of Acquisition
    This is a horizontal Acquisition in related functional area in same industry (banking) in order to acquire assets of a nonperforming company and turn it around by better management; achieving inorganic growth for self by access to 3 million customers of BoR and 463 branches.

    Since

    1997
    1998 2000 Acquired Anagram Finance acquired with the Bank of Madura.

    2005 Acquired Russia's IvestitsionnoKreditny Bank. 2007 Acquired Sangli Bank

    Legal Problems - EGM- Kolkata Civil Court

    Extraordinary general meeting that was called to approve the merger was first cancelled after a Kolkata civil court restrained the management from holding the EGM.This was based on a complaint filed by a shareholder who was against the merger.

    Legal Problems Union Strike


    Three major employee unions of BoR -All India Bank of Rajasthan Employees Federation,All India Bank of Rajasthan Officers' Association and Akhil Bhartiya Bank of Rajasthan Karmchari Sangh, had called the strike demanding the immediate termination of the ICICI-BoR merger proposal.

    Post Merger- Legal Issues


    The Rajasthan High Court issued notices to the Reserve Bank of India, Bank of Rajasthan (BoR), ICICI Bank and others on a petition filed by an employees union of the Udaipur-based BoR against its proposed

    merger with ICICI Bank.

    References
    http://www.ibtimes.com/articles
    http://www.thehindubusinessline.com www.icici.com www.bankofrajasthan.com

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