Premji Invest files petition in HC

CHENNAI: Premji Invest, having 10 per cent stake in Subhiksha Trading Services, has filed a petition in the Madras High Court today objecting to the merger of the discount chain with Blue Green Construction and Investment Ltd.

The petition has been listed for hearing on March three, an official of Premji Invest said today.

The merger process, pending approval in the High Court, was currently open to objections from interested parties.

Premji Invest and ICICI Venture had approved the merger at a shareholders meeting on October 31 last, which has to be ratified by the Madras High Court.