 "Clix Capital, Lakshmi Vilas Bank set to make a joint presentation to RBI")
As Clix restarts merger talks with the new representative of LVB, it is said that the two may make a joint presentation to the RBI this week. Clix will put forth details on the merger and state some of its key conditions critical for the deal to come through.
These conditions include the firm taking 51 per cent or more stake in LVB, and the leeway to gradually reduce stake to 15 per cent over 8-10 years without any mandatory long-term lock-in conditions on the shares and indemnity to its directors from future claims made against the bank, pertaining to its business before the merger.
A few large investors of LVB are said to have reached out to some PSBs for a bailout.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%