Can I buy LVB shares now?

Can I buy LVB shares now?

The bank will be renamed as DBS India now. However, The trading in Lakshmi Vilas Bank shares has been suspended from today. This was after the Reserve Bank of India (RBI) circular which clearly says that the stock of LVB will be discontinued from trading once the merger is approved.

What will happen to LVB shares?

Shares in Lakshmi Vilas Bank have been suspended, which means investors are no longer going to get any value for their shares. Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020.

What is Laxmi Vilas bank share?

Shares of Lakshmi Vilas Bank were recently delisted and there is a courtroom battle going on. Given the above scenario, is this considered as capital loss and can this be set off against capital gains while filing IT returns for financial year 2020-2021?

What is the future of Lakshmi Vilas Bank?

Effectively, LVB will get delisted from the stock exchanges and the name will cease to exist. The operations, employees and branch network will all be amalgamated with DBS Bank India, the subsidiary of DBS Bank of Singapore.

Who is buying LVB shares?

Capri Global Holdings holds 61.40 lakh shares or 1.82 per cent stake in the company, according to latest shareholding data. Besseggen Infotech appears to be a smart trader even in an adverse moment.

Is LVB merging with DBS?

As of 27 November 2020, Lakshmi Vilas Bank (LVB) was amalgamated with DBS Bank India Limited (DBIL), and as per the Scheme of Amalgamation, the results include LVB’s performance since that date.

Is Lakshmi Vilas Bank safe as on today?

The RBI has assured that the depositor’s money is safe and that there is no reason to panic with the announcement of a month-long moratorium on withdrawals. Shortly after announcing one-month moratorium for LVB, the central bank unveiled a move to merge LVB with DBS Bank India Ltd (DBIL).

What is the fate of LVB shareholders?

According to the draft scheme of amalgamation, the entire paid-up share capital of the LVB will be wiped out. As per the draft scheme of amalgamation of the Lakshmi Vilas Bank (LVB) with DBS Bank India, the entire amount of the paid-up share capital will be written off.

Is LVB bank safe?

What is LVB share holder?


Shareholding Pattern – Lakshmi Vilas Bank Ltd.
Holder’s Name No of Shares % Share Holding
NoOfShares 336713751 100%
Promoters 22909972 6.8%
ForeignInstitutions 29109823 8.65%

What is folio charges in LVB?

Vyapaar Account

Sr.No Features LVB VYAPAAR
19 Financial transactions Rs 15/- plus taxes
Non-financial transactions Rs 5/- plus taxes
20 Statement of Account Free, monthly
21 Folio Charges For MAB of up to Rs 5,000/- flat fee of Rs. 100/- plus taxes per month