Euram Bank is seeking to wrest full control of its joint venture based in Dubaiafter the resignation of the former president of Euram Bank Asia.
Arun Panchariya resigned in the wake of a report issued by the Indian authorities accusing him and several companies of trading irregularities.
Euram Bank, based in Vienna, is reviewing its stake and may seek to buy out Mr Panchariya's company, Pan Asia Advisors based in the UK, which owns 49 per cent of its shares, said a senior executive at the joint venture.
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