IDBI Bank Limited informed that the National Company Law Tribunal (NCLT) vide their order dated March 29, 2023 has approved the petition filed for the reduction of equity share capital of the bank.
Accordingly, the bank will set off the accumulated losses aggregating to Rs 45396.18 crore as on April 01, 2021 by utilizing the balance of Rs 50719.75 crore standing to the credit of the Securities Premium account of the Bank as on the said date.
The aforesaid NCLT order is available on the bank's website at www.idbibank.in.
The disclosure is in terms of the provisions of Regulations 30 & 51 of SEBI (LODR) Regulations, 2015.
