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The case discusses all the circumstances surrounding the proposed merger between Unit Trust of India Bank (UTIB) and Global Trust Bank (GTB). The case discusses the various developments that took place from the time the merger was announced. It also focuses on the alleged nexus between GTB''s Chairman and Managing Director, Ramesh Gelli, and the broker Ketan Parekh to rig the price of the GTB scrip to get a favourable swap ratio. The case is intended for MBA/PGDBM level students as a part of the Finance elective curriculum. The case helps students understand the different problems associated with mergers of banks. They are expected to understand the concept of swap ratios. Students are also expected to study the circumstances surrounding the merger to determine whether Gelli and Ketan Parekh had formed a nexus to rig the price of the GTB scrip to get a favourable valuation.