Mumbai, Nov 26: The Bombay High Court on Thursday refused to stay Lakshmi Vilas Bank's (LVB) merger with DBS Bank India Ltd which will be effective from November 27.

A division bench of Justices Nitin Jamdar and Milind Jadhav was hearing petitions filed by a group of promoters of the ailing Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd, one of its shareholders, challenging the merger.

"We are refusing the interim relief sought by the petitioners to stay the amalgamation. The petitions shall be placed for hearing on December 14 when the respondents (Reserve Bank of India, LVB and DBS Bank India) shall file their affidavits in reply," the court said.

On Wednesday, the Union Cabinet gave approval to the Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Ltd to protect the interests of LVB's depositors and employees.

As per the Scheme of Amalgamation, the entire paid-up share capital of LVB will be written off, resulting in shareholders losing their investment.

The petitioners challenged this part of the scheme and sought an interim stay to the amalgamation.

The court, however, said the petitions pertain to a monetary claim, and it needs to be heard and decided finally.

"Indiabulls is a shareholder of the Lakshmi Vilas Bank and stands to lose Rs 188 crore due to this amalgamation," the company's counsel Dinyar Madon said.

Senior counsel Ravi Kadam, appearing for the RBI, opposed the pleas and said the amalgamation decision was taken in larger public interest and in the interest of the depositors and employees of the Lakshmi Vilas Bank.

"There are 20 lakh accounts in LVB. An emergent situation arose which prompted the RBI to step in and take action. The entire liability of LVB is now the liability of a more solid bank (DBS)," Kadam said.

DBS India Ltd's lawyer, senior counsel Janak Dwarkadas argued that LVB's condition was deteriorating since March 2019 and the RBI had to take prompt corrective action.

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Lucknow: An FIR has been lodged here against the makers of web series 'Tandav' and Amazon's India head of original content for allegedly depicting Hindu gods in a manner hurtful to religious sentiments of the people.

The FIR against Aparna Purohit, the head of Amazon's India head of original content, director of the series Ali Abbas, producer Himanshu Krishna Mehra, writer Gaurav Solanki, and an unknown person was lodged late on Sunday night by senior Sub Inspector Amar Nath Yadav at the Hazratganj Kotwali police station here.

The film starring Saif Ali Khan, Dimple Kapadia, Sunil Grover, Tigmanshu Dhulia, Dino Morea, Kumud Mishra, Mohd Zeeshan Ayyub, Gauhar Khan and Kritika Kamra, premiered on the streaming platform on Friday.

According to the FIR, following public outrage expressed on social media platforms, the web series was viewed and it was found in the 17th minute of the first episode of the series that Hindu gods and goddesses have been presented in an "undignified manner' and shown using language which is hurtful to religious sentiments.

Dialogues in the web series can incite caste anger, the FIR alleged.

It also alleged that the person occupying the high post of Prime Minister of India has been portrayed in a very belittling manner besides there are scenes in which castes have been presented as low and high and women in an insulting manner.

The FIR further alleged that intent of the web series is to incite religious sentiments of a particular community and create enmity among classes.This act of the producer-director has hurt and incited religious and caste sentiments of the people, the FIR added.

Taking cognizance of complaints that Hindu gods and goddesses have been ridiculed in the web series, the Ministry of Information and Broadcasting had on Sunday sought an explanation from streaming platform Amazon Prime Video on the issue, sources had said.

The development came after BJP MP Manoj Kotak on Sunday said he has written to Information and Broadcasting Minister Prakash Javadekar seeking a ban on Amazon Prime Video's series 'Tandav' for ridiculing Hindu deities.

"The ministry has taken cognizance of the matter (complaints) and asked Amazon Prime Video to explain," a source in the ministry had said.

Kotak, the MP from Mumbai North-East, said different organisations and individuals have complained that Hindu gods and goddesses have been ridiculed in the 'Tandav' web series.

When contacted about the complaints, Amazon Prime Video PR had said the platform "won't be responding" on the matter.

The government recently brought OTT platforms such as Netflix, Amazon Prime Video and Disney+ Hotstar, besides other online news and current affairs content, under the ambit of the Ministry of Information and Broadcasting, giving it powers to regulate policies and rules for the digital space.