Did the Indian govt ordered DBS India to save LVB and DBS India cannot say no? DBS India is a Singapore bank, owned by the Singapore govt. Is DBS India being ordered by the India govt to do national service, to save LVB and carry all its debt, pay for all its debt, be responsible for all its crimes, frauds, mismanagement and with unlimited liability? Unlimited liability? This cannot be right?
There are many fundamental questions that Singaporeans would want to know as the mounting lawsuits against DBS India is anything but puzzling. No one, no company, not even an idiot, would take over another company without knowing the debt it has to pay, and without setting conditions for the takeover to limit its liabilities. If the liabilities are not limited, looks like this is the case, the claims could even bankrupt DBS India and may also affect DBS and the Singapore govt. This is basic in any takeover of a failing company. Even Ah Seng with little education would know this if he is going to take over a kopitiam or a whore house.
And the crimes and frauds committed by the LVB management cannot be the responsibility of the taking over company, in this case DBS India. This must be a key condition to set or else the takeover must not proceed. Is this the case?
Why are all these provisions and conditions not set in the first place? If they were, why is DB India even have to defend itself in courts over all the spurious claims? At the moment it seems that DBS India is going to court to defend all the crimes and frauds of LVB management. How could this be the case? What if they committed rape or murder? Also the responsibility of DBS India?
Why are the Indian govt and Singapore govt keeping mum about this sordid saga, not saying a word to defend DBS India and to absolve it from all these liabilities and responsibilities that it did not commit in the first place? If the Indian govt is not going to protect DBS India from all the claims, then DBS India must be able to walk out of the deal and take back whatever hundreds of millions it had put into the deal.
What is going on?
Looks like no dares to ask this in Parliament. So either it is another case of all is fine or so bad that asking it would be stirring the hornet's nest and get bitten.
I point out the facts, you make your own conclusions, by putting two and two together.
ReplyDeleteThe facts are:
1. DBS India has an Indian CEO, originated from India.
2. DBS Singapore Group has an Indian CEO, originated from India.
3. DBS International has an Indian CEO, originated from India.
4. MAS has an India CEO, originated from India.
5. Foreign Minister is also Indian.
6. Senior Minister in charge of Economics Coordination is also India.
7. Chief Justice is also Indian.
8. Law Minister is also Indian.
9. President of Law Society is also Indian
10. President is also Indian, adhoc changed to Malay.
Looks like Singapore belongs to the Indians. Therefore, what do you think? Can India dictate to Singapore's DBS India or not?
Big boss Temasek Holding will have a new CEO soon, also Indian. I see this whole debacle as govt too pro Indian business and DBS's being geedy, akin to people falling for phone and internet scams bacause of $ only to lose more $. If Indian courts rule DBS India is culpable of all the claims, then we should pack up all investments and go home.
DeleteTo me, this looks like the biggest fraud of the century.
ReplyDeleteMany high powered people are involved.
Probably many closed doors negotiations had been going on before the merger.
How can DBS get itself into this kind shit and the governments of both Singapore and India are keeping very quiet.
WTF is going on?
Disappointed that Opposition Leader Pritam Singh never bring up the DBSI-LVB fiasco in Parliament . . .
ReplyDeleteHow many Indians are there in India scheming of suing DBS India now that the flood gate is open for every Indian to make a claim against DBS India?
ReplyDeleteNov 19, ST columnist Ven Sreenivasan was waxing lyricals over the deal, fortune written all over it. He said the proposed amalgamation would effectively and significantly increase DBS' footprint in the southern region of the world's second-most populous nation, as LVB has a network of over 550 branches and more than 900 ATMs across India. DBS India will acquire LVB and its assets for a mere 25 billion rupees.
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ReplyDeleteRe: Anonymous 10.25am
When the whole gang is 'kaki l'an' in Hokkien Lingo or own ethnic people what is there to stop the conspiracy to defraud the richest bank in South East Asia.
Opposition parties must hold a public rally to raise the awareness of the citizens to this horrible banking issue which may impoverish the country eventually and cause huge economic and financial disaster to the state.
Anti-conspiracy to plunder.
When came out of Rochor MRT station yesterday, can see increased presence of foreign Indians in several groups of 3-5 or more sitting on the ground and grass below the LASALLE College of the Arts building, like having picnic, with many not wearing masks at all.
ReplyDeleteSome were smoking, littering the ground with cigarette buds, with no enforcement agencies in sight. They don't look like in the construction sector, and many are women.
An octogenarian lady resident at Selegie living there for 60 years said she's now seeing so many foreign Indians around the area, and honestly think that Singapore would eventually be taken over by the Indians one day.
Singaporeans should not be unduly worried about what is happening. Whatever the govt is planning and doing, everything has been thought out carefully, for the good of Singapore.
ReplyDeleteI think, just my thinking, Singapore leaders are seeing India as the next super power and it is good to be on very good terms with India, helping India to succeed and when it happened, Singapore would be in a good position to benefit from a super power India.
This is long term planning, 50 years or 100 years. Singapore govt's thinking is always forward looking, thinking ahead, be ahead of time. Some even start to put on Indian dresses.
Trust them to do the right thing for Singapore. How can they be doing the wrong thing or doing things that are harmful to Singapore's interests? Cannot be right? All they are doing must be right and good.
Uncle RB, u r rite man. No govt in this world wud do something against their own interests. But need to think why bring in so many foreign Indians here? To build our infrastructure ? To expand our economy? To fill up job gaps that locals aren't interested in? To 'rob' away our local banks??To ride on India next super economy wave? Or to steal away lunches of locals? etc.
DeleteThere is another job at the hawkers probably will prosper either now or future, ...learn art of flipping pratas, & learn how to shake head for a 'yes' answer when dealing with Indian customers.
DeleteThe head honcho has switched off for the last ten years, after cancer 2nd time. Working by remote control. Allow the black ants to eat up all the sugar and honey.
ReplyDeleteSome more don't want to let go. Like father, like son.
You are also right man. There are always two sides to a coin. One side is good, the other side is bad. The fools would only look at the good side, to hear the good stuff.
ReplyDeleteBut never mind. Suckers are born everyday.
The hallmark of a traitor to a country is to sell the country for his own personal gains.
ReplyDeleteSince DBS India is taking over LVB, would they later even be allowed to drain the swamp infested by all the fraud elements? It looks like now their hands are tied by the Indian Government, Justice System and the Indian Central Bank.
ReplyDeleteHoly shit, this looks like a black hole. Everything is looking so dark for DBD India. Darker than Little India in Red Dot on weekends.
LO is also of Indian origin?
ReplyDeleteThe silence at the top of the glass tower is deafening so far, on the DBS India issue.
ReplyDeleteVery funny. Everyone in Parliament also siam, no question raised on this. So far.
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