Madras HC refuses to stay LVB-DBS Bank merger, adjourns AUM Capital plea

Division bench says merger has already come to operation, Centre and RBI are free to proceed as per the scheme

The Madras High Court has refused to stay the merger of Lakshmi Vilas Bank (LVB) with DBS Bank India. The court adjourned the plea moved by AUM Capital Market Pvt Ltd challenging the merger to January 21. 

It may be noted, on Thursday, the Bombay High Court refused to grant stay on the final scheme of amalgamation between DBS bank and Lakshmi Vilas Bank which will come into effect on Friday.

Today, a division bench of the Madras High Court consisting of Justice Vineet Kothari and Justice M S Ramesh said "no blanket interim order can be granted against the