Clix Group completes due diligence of LVB ahead of proposed amalgamation

Lakshmi Vilas Bank (LVB), which had signed a preliminary, non-binding letter of intent with Clix Capital Services Private Limited and Clix Finance India Private Limited (collectively, Clix Group) in relation to the proposed amalgamation of Clix Group with the bank, informed on Tuesday that the mutual due diligence process was nearly complete.
 

The two parties had earlier agreed to extend the due diligence exclusivity period till September 15 due to prevailing Covid-19 pandemic situation. The two are now discussing the next steps. The bank will continue to share any further information as and when it materialises, LVB said in a statement.