Madras High Court passed an interim order to protect the interests of shareholders engaged in LVB. However the court will stay back from the amalgamation proceedings of the two banks. Madras High Court on Friday specified that no further prejucidical action will be taken against LVB shareholders by the respondents. DBS Bank should confirm an undertaking in the court, so if the court concludes and compels LVB to provide compensation, even DBS is obliged to pay the same.
Madras High Court’s interim order gives relaxation to LVB shareholders
