CURRENT AFFAIRS

Detailed explanation-1: -As per the deal, the shareholders of Lakshmi Vilas Bank will be entitled to get 14 shares of Indiabulls Housing Finance for every 100 shares they hold.

Detailed explanation-2: -Billionaire investor Rakesh Jhunjhunwala has bought 35,00,000 equity shares in Indiabulls Housing Finance company during Thursday’s session through open market transaction from RARE Enterprises at Rs 219 per share on the NSE, the bulk deals data showed. RARE Enterprises is also backed by the ace investor.

Detailed explanation-3: -The bank didn’t reveal the reason cited for the central bank’s decision. The rejection comes after RBI last month put LVB under the Prompt Corrective Action (PCA) framework due to a high level of bad loans, lack of sufficient capital to manage risks and negative returns on assets for two consecutive years.

Detailed explanation-4: -Indiabulls Housing Finance Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 14/02/2023 ,inter alia, to consider and approve the unaudited financial results of the Company for the quarter and nine months ended December 31, 2022.

Detailed explanation-5: -In February 2022, the Enforcement Directorate (ED) raided Indiabulls Finance Centre acting on a complaint of money siphoning against Indiabulls Housing and promoter Sameer Gehlot, among others. Continuing investigations and raids keep the stock volatile as it dampens investor sentiments.