DBS faces lawsuits in India post-takeover of Lakshmi Vilas Bank

DBS faces lawsuits in India post-takeover of Lakshmi Vilas Bank

Singapore-based lender DBS Group has said that it is facing lawsuits in India related to Lakshmi Vilas Bank’s (LVB) takeover. It stated that the LVB’s equity shareholders and Tier-II bondholders that were written off before the effective date of amalgamation have taken legal actions against DBS’ local unit. “DBS has no incremental unprovided risks on these lawsuits,” it added.

News source : BloombergQuint

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