SC ALLOWS BOR TO ISSUE 90 LAKH SHARES

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NEW DELHI: In a reprieve to an earlier SAT order, the Supreme Court (SC) has allowed Bank of Rajasthan (BoR) to raise capital, subject to regulations in accordance with law. A bench comprising justice BP Singh and HS Bedi in an interim order permitted the bank to raise capital pending decision on the appeal relating to listing of 90 lakh shares on the Bombay Stock Exchange. The bank had moved the Securities Appellate Tribunal in July 2006, challenging the inaction on part of Sebi in granting approval for listing its lakh shares on the BSE.

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