Petition against EIH filed in Mumbai HC

Our Markets Bureau

Kolkata, Aug 10: The Oberoi group flagship EIH Ltd has been taken to court over its proposal to issue preferential capital worth Rs 400 crore. The proposal is to be placed before shareholders at their annual general meeting on August 21.

A shareholder, Mr Chandresh Mehta, has petitioned the Mumbai High Court to direct the Union government and the Securities & Exchange Board of India to investigate his claim that the resolutions are “illegal” and “malafide”. Sources said the petition, dated August 8, has been listed for hearing next week.