Hc Clears Centurion Recast

The Bombay High Court (Goa bench) today approved the scheme of arrangement filed by Centurion Bank for restructuring and re-capitalisation of the bank.

The scheme also envisages merger of the Bangalore branch of Bank Muscat with Centurion Bank. Bank Muscat has filed the requisite petition with the Karnataka High Court and the hearing is scheduled for October 10, 2003. Centurion Bank has valued Bank Muscat