Home Capital Broker's Calls

UOBKH maintains 'hold' on DBS as latter faces legal woes in India due to LVB amalgamation

Felicia Tan
Felicia Tan2/22/2021 10:47 AM GMT+08  • 4 min read
UOBKH maintains 'hold' on DBS as latter faces legal woes in India due to LVB amalgamation
The next hearing for the case is scheduled on Feb 25.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

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.

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).

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now