News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Launch of Complaint Management System by RBI
 Statement by Governor on launch of Complaint Management System
 Auction of Government of India Dated Securities June 24, 2019
 Auction for Sale (re-issue) of Government Stock (GS) June 24, 2019
 Rationalisation and Revision of Agency Commission Payable to Banks on Government Transactions
 Rollout of the foreign exchange trading platform for retail participants – FX-Retail
 Formation of new district in the States of Telangana and Madhya Pradesh – Assignment of Lead Bank Responsibility
 Discontinuation of the requirement of Paper to Follow (P2F) for State Government Cheques
 Clarification regarding non-allowability of set-off of losses against the deemed income under section 115BBE of the Income-tax Act, 1961 prior to assessment-year 2017-18-reg.?
 Evolving Role of Central Banks (Shri Shaktikanta Das, Governor, Reserve Bank of India - June 17, 2019 - Delivered at the Lal Bahadur Shastri National Academy of Administration
 Auction for Sale (re-issue) of Government Stock (GS) June 17, 2019

Announcement of Merger of Lakshmi Vilas Bank and Indiabulls Housing Finance Limited
April, 10th 2019

Reserve Bank of India (RBI) has learnt through media reports that Lakshmi Vilas Bank (LVB) and Indiabulls Housing Finance Limited (IBHFL) have made a merger announcement on April 5, 2019 with approval of their respective Boards. It has been reported in a section of the media that the presence of two nominee directors of the RBI on the Board of LVB implies RBI’s indirect approval of the proposal.

It is clarified that the merger announcement does not have any approval of RBI at this stage. It is also clarified that presence of Additional Directors nominated by the RBI on the Board of LVB does not imply any approval of the RBI of the merger proposal. Moreover, the Additional Directors have clearly mentioned at the meeting that they have no view on the proposal.

The proposals, as and when received from these entities, will be examined in RBI as per extant regulatory guidelines/directions.

Yogesh Dayal
Chief General Manager

Press Release: 2018-2019/2390

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Outsourcing Company Offshore Software Outsourcing Software Outsourcing Company India Offshore Outsourcing Company India Software BPO Software Business Process Outsourcing Software Outsourcing India Offsho

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions