Mauritian regulator takes over bank set up by BanyanTree PE founder

Mauritius-based BanyanTree Bank Ltd, which was set up by India-based private equity firm BanyanTree Finance’s founder Sanjiv Singhal, has been taken over by the island nation’s regulator due to capital impairment issues. The Bank of Mauritius has also appointed Mushtaq Oosman as conservator of BanyanTree Bank with effect from April 1 ......