Omkeshwar Singh | Answer |Ask -Follow
Head, Rank MF - Answered on Nov 20, 2019
(2) Crash of stocks of banking companies have hurt investors, particularly those holding Yes Bank and LVB. Prior to rights issue LVB was selling @ 177 and rights issue was for 122. Now the scrip is selling @ 15. Investors have lost hugely their hard earned money. Subsequent to rights issue, LVB made fresh disclosures of NPA that lead to further fall and the scrip has further declined is selling at 10 per cent price before rights issue. SEBI and RBI have not protected the interests of investors. They should have annulled the rights issue and asked the bank to return the money raised in rights issue. What is the remedy for investors?
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