Madras High Court refuses to interfere with merger of Lakshmi Vilas Bank with DBS India

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Madras High Court Orders RBI To Reevaluate Lakshmi Vilas Bank Assets Before Amalgamation

The Madras High Court on Friday directed the Reserve Bank of India to take a fresh decision on writing down shares and debentures of Lakshmi Vilas Bank Ltd., according to the court order viewed by NDTV Profit.The high court has asked the central bank to conduct a fresh valuation exercise for Lakshmi Vilas Bank and DBS Bank India’s assets before amalgamation. The RBI has been given four months to conduct the revaluation exercise.(This is a develo…