Indiabulls Housing to merge Lakshmi Vilas Bank with itself

The proposed new entity will be named Indiabulls Lakshmi Vilas Bank with Sameer Gehlaut, the current chairman of IBHFL, taking over as its vice-chairman. Gagan Banga, currently VC & MD of the housing finance company, and Parthasarathi Mukherjee, current MD of the bank, will become the joint MDs.

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