Mumbai, June 17: Centurion Bank Ltd. shareholders have approved the restructuring proposal amongst Bank Muscat (SAOG), the former and its shareholders with a requisite majority. At the extra-ordinary general meeting convened on June 14 in Goa as per the directions of Bombay High Court (Goa Bench), shareholders have also approved the reduction in the paid-up share capital of Centurion Bank and consequent amendments to the memorandum and articles of association, the bank said.
The bank had filed the scheme of restructuring and infusion of fresh capital on the basis of proposal submitted by Sabre Capital Worldwide Inc. before the Goa bench of Mumbai High Court.
Centurion Bank chairman V Janakiraman had last week said fresh capital of Rs 154 crore would flow in after the nod of the court and other regulatory authorities within the next three months. Bureau Report