To consider capital infusion by LIC at EGM on 28 September 2015
Corporation Bank announced that subsequent to the decision of Government of India to infuse capital into the Bank to the tune of Rs. 857 crore, the Company have received a letter dated 11 September 2015 from Life insurance Corporation of India expressing their intention to infuse capital to the extent of Rs. 143 crore into the capital funds of the Bank, by way of issue of equity shares on preferential basis to Life Insurance Corporation of India and to place the same in the ensuing extraordinary general meeting.The Board of the Bank has approved the same on 14 September 2015, to make this as a part of the business item in the ensuing Extraordinary General Meeting scheduled to be held on 28 September 2015.
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