The petition filed by minority shareholders of Bank of Rajasthan for rejecting RBI approval of merger of the bank with ICICI Bank has been dismissed by the apex court of the country, the Supreme Court.

The petition was rejected by a bench comprising ustices DK Jain and HL Dattu. The petition had also demanded a second scrutiny of the extraordinary general body meeting (EGM) which was held for the shareholders of BoR.

The court disagreed to the petition saying that the EGM was an illegal one and was attended by only a handful of people. "The EGM was stayed by a local court in the morning and later by 2 pm, the Calcutta HC had stayed the local court's order. There was confusion and the meeting was held in that scenario," said RP Somani's (the petitioner) counsel.

The bank has already merged with the largest private sector lender of the country, ICICI Bank on 12th August.