IDBI bank sale is a black mark in govt divestment history.
Reeks of a scam.
A former finance secretary, a Modi-govt appointee speaks with candour to @mkvenu1 in MKV’s 360https://youtu.be/jLtyOBw7rZ0?si=Xxvg6thxjQFaFdIq via @YouTube
आईडीबीआई उनके कर्मचारियों के सिर्फ एक संस्था नहीं है हमारी मां है - और कोई कैसे अपनी मां के लिए गलत होते देख सकता है।
#SaveIDBIBank
https://t.co/gacuYNElBK
Something doesn’t add up.
Fairfax is reportedly looking to use IDBI Bank’s own surplus capital to help fund its acquisition of the bank itself.
The plan: IDBI deploys excess capital to buy Fairfax’s stakes in Go Digit and IIFL Capital (~$3 billion), while the overall deal is valued at $5.6 billion.
A bank’s money being used to buy the acquirer’s assets? Experts are already raising red flags on governance, valuation, and minority shareholder rights.
The optics are poor. The questions are unanswered.