Summary:
New Delhi: The Delhi High Court has sought response from DBS Bank India Ltd (DBSIL) on a plea by Religare Finvest Ltd seeking to make the bank a party in its ongoing suit against Lakshmi Vilas Bank as it has been merged with DBSIL. Religare Finvest Ltd (RFL) has a 2018 pending suit against LVB alleging misappropriation of its fixed deposits of Rs 750 crore. The merger of LVB with DBSIL came into effect from November 27. Justice Rajiv Shakdher issued notice to DBSIL on the RFL application seeking to substitute the bank with LVB following the merger. The police had said a probe was initiated after Manpreet Singh Suri of Religare Finvest had filed a complaint against the Singh brothers and their companies RHC Holding Pvt Ltd, Ranchem Pvt Ltd, and LVB and its then directors/employees..