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DBS Group faces lawsuit after Lakshmi Vilas Bank takeover DBS Group faces lawsuit after Lakshmi Vilas Bank takeover DBS’s Lakshmi Vilas acquisition was the first time the RBI turned to a foreign lender to bail out a local bank due to the shadow banking crisis. Chanyaporn Chanjaroen 20 February, 2021 2:28 pm IST Text Size: A+ Mumbai: DBS Group Holdings Ltd., Southeast Asia’s largest lender, said it’s facing lawsuits in India related to its recent takeover of a struggling local bank. Holders of Lakshmi Vilas Bank Ltd.’s equity shares and Tier-II bonds that were written off before the effective date of amalgamation took legal actions against DBS’s local unit in various high courts in India, the Singapore-based lender said in a reply to questions from Bloomberg News. The acquisition was completed on Nov. 27, DBS said earlier this month.

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