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The Madras High Court on April 26 refused to interfere in the 2020 amalgamation of Lakshi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL) but directed the Reserve Bank of India (RBI) do a fresh valuation of the assets and shares of both entities to decide on reduction in value of shares and Tier-II bond write offs.
“We direct RBI to carry out the exercise of valuing the shares and assets of both DBIL and LVB as on the date before the amalgamation and on that basis, take a decision afresh on reduction of the…
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