RFL, one of the leading non-banking finance companies in India, has a pending case against LVB for misappropriating fixed deposits worth Rs750 crore ($136.9 million).
UOB Kay Hian analyst Jonathan Koh has maintained his “hold” call on DBS Bank with a lower target price of $29.20 from $29.30 after the latter found itself embroiled in lawsuits in India arising from the amalgamation of Lakshmi Vilas Bank (LVB).
Religare Finvest Limited (RFL) has filed a petition with the Delhi High Court to name DBS Bank India as the defendant instead of LVB due to the merger of the two banks.
