For every 100 shares of ICICI Securities that a shareholder owns, they will receive 67 shares of ICICI Bank under the terms of the arrangement.
The appeal is directed against the August 21 order of the Mumbai bench of the NCLT, which has also been contested by a few other parties.
The NCLT bench, chaired by Justices Virendrasingh G Bisht and Prabhat Kumar, reserved its decision on August 5.
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