SUB: Amalgamation of Lakshmi Vilas Bank Ltd (Scrip Code: 534690).
Trading members of the Exchange are hereby informed that, Lakshmi Vilas Bank Ltd has now informed that pursuant to the Scheme of Amalgamation as notified by The Government of India after consultation with the Reserve Bank of India, has sanctioned the Scheme of Amalgamation providing for Amalgamation of Lakshmi Vilas Bank Ltd (Transferor Bank) into DBS Bank India Ltd. (Transferee Bank)
The appointed date under the said scheme is 27th November 2020. Further attention is drawn to Clause 7 on Page No. 12 of the Gazetted Scheme of Amalgamation, which is reproduced below :
“7. Rights and liabilities of members and creditors of transferor bank.–-
(1) On and from the appointed date, the entire amount of the paid-up share capital and reserves and surplus, including the balances in the shares or securities premium account of the transferor bank, shall stand written off.
(2) On and from the appointed date, the transferor bank shall cease to exist by operation of this Scheme, and its shares or debentures listed in any stock exchange shall stand delisted without any further action from the transferor bank, transferee bank or order from any authority.”
In view of the above intimation, the equity shares of Lakshmi Vilas Bank Ltd shall not be available for Trading w.e.f. Thursday, 26th November, 2020 (DR -167/2020 – 2021)
Trading Members of the Exchange and Market Participants are requested to note the same.
Copy of the letter dtd. 25.11.2020 received from Lakshmi Vilas Bank Ltd. alongwith copy of Gazetted Notification of Scheme of Amalgamation is attached herewith.
Mangesh Tayde
Assistant General Manager –Listing Operations (CRD)
November 25, 2020
Encl: as above
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