Tag: extraordinary general meeting

IOB to use share premium money to offset losses

State-run Indian Overseas Bank (IOB) has announced its plans to set off its accumulated losses with funds from its share premium account. In a release late on Monday, IOB said it intends using Rs 7,650 crore in its share premium account to write off its accumulated losses worth Rs 6,978.94 crore. The decision, approved by …

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January 9, 2018