We invite your attention to the referred intimation filed as above. In furtherance to the same, this is to inform that the Bank has written down the bonds (Series VIII - Rs.78.10 crores, Series IX - Rs.140.10 crores and Series X - Rs.100 crores) aggregating to Rs.318.20 crores. The Tier 2 Bonds issued under Series VII (Option B) amounting to Rs.50.50 crore will continue as a liability in the books of DBS Bank India Ltd. You are requested to take the same on record.
In furtherance to the intimation filed as referred above, the Reserve Bank of India has issued a press release today that the amalgamation will come into force on the Appointed date i.e. November 27, 2020 and all the branches of the Lakshmi Vilas Bank Ltd. will function as branches of DBS Bank India Ltd. with effect from this date. 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. Consequently, the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date. DBS Bank India Ltd. is making necessary arrangements to ensure that service, as usual, is provided to the customers of the Lakshmi Vilas Bank Ltd. The Press Release issued by Reserve Bank of India dated 25.11.2020 is also attached herewith. This is for your kind information and records.
The scheme of amalgamation of Lakshmi Vilas Bank Limited with DBS Bank India Limited sanctioned by the Government of India, subject to the terms and conditions provided therein, vide gazette notification dated 25th November 2020 issued by Department of Financial Services, Ministry of Finance is enclosed herewith. The appointed date under the said scheme is 27th November 2020. This is for your kind information and records.
With reference to the above, please find attached herewith the following: Notification issued by Department of Financial Services, Ministry of Finance Press release issued by Reserve Bank of India In line with the above Shri TN Manoharan, former Non Executive Chairman of Canara Bank, has been appointed as the Administrator by the Reserve Bank of India under Section 36ACA(2) of the Banking Regulation Act, 1949 with effect from today.
This is with reference to our letter Ref /Sec/205 & 266/88/2020- 2021 doled September 26, 2020, wherein it was informed that the trading window shall remain closed from 27.09.2020 till 48 hours after the declaration of unaudited financial results for the period ended September 2020 by the Bank. In compliance with the Code of Conduct to Regulate, Monitor and Report Trading by Insiders in Securities of The Lakshmi Vilas Bank Limited read with Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the Chief Compliance Officer of the Bank, being the Compliance Officer under the said Regulations has informed that the trading window will be reopened from 10.11.2020, consequent to the declaration of unaudited financial results for the period ended September 2020 of the Bank on 07.112020. This is for your kind information.
In compliance with the applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('SEBI Listing Regulations'), this is to inform that Shri Praveen Kumar Molri has been co-opted as Additional Director of the Bank in the category of Non-Executive and Independent Director in the Board Meeting held on November 07, 2020.
In compliance with applicable regulations of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, the press release pertaining to our bank's Un-Audited Financial Results for the period September 30, 2020 is enclosed for your information and records.