Financial Daily from THE HINDU group of publications
Tuesday, Aug 10, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 10, 2004 |
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Opinion
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Letters GTB shareholders
This is with reference to "GTB shareholders hope for compensation" (Business Line, August 7). The shareholders of the former Global Trust Bank were the owners of the bank and therefore partly responsible for its ills. What were they doing at the annual general meetings? The condition of the bank was already known three years back and yet the shareholders did not think it fit to raise any issues. Now that it is being taken over by the Oriental Bank of Commerce, they are raising a huge cry for compensation at the cost of the shareholders of OBC. The RBI should make a policy statement that in the scheme of amalgamation what is left as surplus alone will be distributed to the owners and shareholders. T. R. Venkataraman Chennai
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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