Clix Capital, Lakshmi Vilas Financial institution set to make a joint presentation to RBI

2020/10 04 18:10

As Clix restarts merger talks with the brand new consultant of LVB, it’s mentioned that the 2 could make a joint presentation to the RBI this week. Clix will put forth particulars on the merger and state a few of its key situations essential for the deal to come back by.

These situations embrace the agency taking 51 per cent or extra stake in LVB, and the leeway to step by step cut back stake to 15 per cent over Eight-10 years with none necessary long-term lock-in situations on the shares and indemnity to its administrators from future claims made in opposition to the financial institution, pertaining to its enterprise earlier than the merger.

A number of massive traders of LVB are mentioned to have reached out to some PSBs for a bailout.

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