RBI approval is going to be a big challenge for this Indiabulls-LVB amalgamation given that Indiabulls promoters have so many other interests. RBI is very sensitive about large corporates/conglomerates having a bank license.
As per indiabulls housing they meet most of the criteria for amalgamation. However how will they meet the fit and proper criteria which requires impeccable promoter integritu? Or is this criteria not needed
What are your thoughts on profit booking on this as suggested in the article?
@Yogesh_s what is your opinion on the fit and proper criterion needed for banking license. Is there a way to get around it due to âamalgamationâ instead of a direct license. Itâs clear as day to anyone that indiabulls is simply purchasing a banking license.
Disc: Invested and watching
I wouldnât have invested 20% of my networth in this company if I did not think the promoters are fit and proper.
RBI has its own criteria, outcome of which I cannot guess . Moreover this deal is not a survival game for the company but more like addressing risks they faced in 2018 so even if it does not materialize its not the end of the world for the company.
Conf call today
Myself being a layman, I wish to share how I see this. Please feel free to correct me.
Although India bullâs is doing good already, getting a banking license would indeed be an icing on the cake.
However, I personally believe if RBI approves the merger.
IBHF can command a higher price premium that banks in India command over HFCâs.
Ever since Mr. Sameer Gehlautâs name appeared in Panama Paper, there is a sense of misogyny towards India Bulls . And let me clear I donât intend to say he did anything wrong. In-fact he has cleared many times every Penny he has invested, he has followed desired regulation.
If RBI approves the merger I see a stamp of approval on this controversy as well. Promotors Integrity would be paramount for RBI to approve anything.
Disclaimer- Invested. Eagerly waiting for RBIâs nod to add more.
The developersâ body specifically accused Indiabulls of abusing its position and creating a situation where it was financially strangulating projects.
whats there in that, Indiabulls clearly saying you are free to go to other financiers if they think its not reasonable, no body willing to give loans to builders at the moment as there is lot of risk.
https://www.bseindia.com/stock-share-price/disclosures/insider-trading-2015/535789/
Selling by insiders latelyâŚshould we consider that something is wrong?
Article has been taken down + not available in google search cache as well.
Do you have pdf/or any saved version?
From Bloomberg Quint:
Indiabulls Fraud: Indiabulls Housing Finance Accused Of Misappropriating Rs 98,000 Crore Of Public M.pdf (59.5 KB)
#IndiabullsHousing mentions about #blackmail and has a name #vishalshekhar alleging wrong doing. Interestingly #cobrapost expose on #dhfl also based on complaint by #vikashshekhar. Think this needs some investigationâŚ