ICICI Securities-shareholder spat could land in Bombay HC

ICICI Securities' conflict could escalate to Bombay High Court following NCLT’s stance on Sebi’s delisting exemption under Section 37 (1). Chatterjee claims an illegal bypass of reverse book-building. ICICI Securities counters that objections breach shareholder democracy. Quantum Mutual Fund and Manu Rishi Gupta’s lawsuit affects minority shareholders. ICICI Bank-ICICI Securities share exchange involves 67 shares conversion ratio. Approved by vote.