RBI says LVB-Indiabulls Housing Fin merger proposal to be examined according to norms; no approval as yet.
A day after the board of Lakshmi Vilas Bank (LVB) approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal, the Reserve Bank of India clarified that the presence of its two nominee directors on the bank’s board does not imply approval of the proposal.
The central bank, in a late evening statement on Saturday, said: “It is clarified that the merger announcement does not have any approval of RBI at this stage. It is also clarified that presence of additional directors nominated by the RBI on the board of LVB does not imply any approval of the RBI of the merger proposal.”
Moreover, the additional directors have clearly mentioned at the meeting that they have no view on the proposal, it added. The proposals, … Read More
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Ted Dixon is the co-founder and CEO of INK Research. INK stands for Insider News and Knowledge and is North America’s first online financial news and research service. It provides investor insight into what public company executives and significant shareholders are doing with their ownership interests. In this interview, Ted shares regarding what investors need to know about insider buying and selling and how to determine if insider buying should be considered a buy signal for a certain stock. Ted also discusses what current insider buying is indicating about sentiment towards the junior resource sector.
INK Research provides a free source of insider trading alerts and reports across both the U.S. and Canadian stock markets. Free INK services are found on CanadianInsider.com and InsiderTracking.com. Ted Dixon has also lectured in corporate finance at the British Columbia Institute of Technology. Before starting INK, he worked at the Connor, Clark & Lunn … Read More
#757Live Shares of Facebook Inc, which were given a boost last week when the social networking company reported first quarter results that largely met analysts’ expectations, may be over valued, financial newspaper Barron’s.