The Madras High Court on Monday reserved its final judgement on the voting rights of foreign institutional investors (FIIs) in Tamilnad Mercantile Bank (TMB) for next Monday.

<tr><td><p class='TableClas'></p><P class='TableClas'><DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The TMB board had passed two resolutions, with two RBI nominees abstaining, recently. 
</p><p class='TableClas'>One restricted the voting rights of new investors to 10 per cent and the other froze the voting rights completely. The court&#39;s order on these issues was expected on Monday.
</p><p class='TableClas'>The court, however, reserved its judgment for the second time on foreign institutional investors (FIIs) who hold 25 per cent stake in the bank. </P></p><p class='TableClas'></p></table>


TMB tangle: Ruling on FIIs` rights on June 23

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