A plea in the Delhi High Court has challenged the scheme of amalgamation of Lakshmi Vilas Bank with Development Bank of Singapore, contending that its shareholders have been "left in the lurch" and the Centre and the Reserve Bank have failed to protect their interests. The petition was listed before a bench of Chief Justice D N Patel and Justice …
The Bombay High Court on Thursday rejected a prayer for ad-interim stay on Reserve Bank Of India's amalgamation scheme for the merger of Lakshmi Vilas Bank with the DBS Bank approved by the Union Cabinet, in a plea filed by shareholders of Lakshmi Vilas Bank. Senior Advocate Darius Khambata appeared on behalf of the petitioners, he submitted that the first …
Immediately after placing loss-making private bank Lakshmi Vilas Bank under moratorium and superseding its Board of Directors, the Reserve Bank of India announced a draft scheme for its amalgamation with DBS Bank India Ltd. RBI has placed LVB under a moratorium for 30 days that would end on December 16, according to statements from the regulator. Lakshmi Vilas Bank saw …
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