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Lakshmi Vilas Bank, Clix Capital reaffirm commitment to ongoing merger

Major portion of due diligence completed; application to RBI is likely in one - two weeks

Deals, mergers,
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Clix is seeking a 51 per cent stake in LVB, willing to go upto 74 per cent if permitted

Hamsini KarthikSurajeet Das Gupta Mumbai/New Delhi
Lakshmi Vilas Bank (LVB) and Clix Capital executives have reaffirmed their commitment to the ongoing merger talks, following speculation that the deal was being called off. 

They have also quashed rumours of the merger being regulator-imposed.

“It is about when the application will be placed before the regulator,” Shakti Sinha, member (committee of directors), told Business Standard. 

He said the bank was highly committed and would do what it took to see the merger come through.

“From our end, discussions were halted for a day or so because we needed to give the new team time to settle down,” said a senior Clix executive. 

Clix

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First Published: Sep 30 2020 | 7:33 PM IST

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