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.
