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.