Top
Begin typing your search above and press return to search.
keyboard_arrow_down
Login
exit_to_app
Why this ordinance?
access_time 24 Oct 2020 5:47 AM GMT
Flaws in Keralas health care model
access_time 23 Oct 2020 5:38 AM GMT
Indias startups lack innovation
access_time 21 Oct 2020 5:19 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightDhanalaxmi bank awaits ...

Dhanalaxmi bank awaits RBI decision after shareholders voting out Managing Director

text_fields
bookmark_border
Dhanalaxmi bank awaits RBI decision after shareholders voting out Managing Director
cancel

Kochi: Thrissur based Dhanalaxmi Bank's shareholders are looking forward to the Reserve Bank of India for its decision on the future course of action at the bank after they voted out Managing Director (MD) and CEO Sunil Gurbaxani at the annual general meeting on Wednesday.

During the bank's 93rd annual general meeting, 90.49 per cent of the total valid votes were polled against Gurbaxani's appointment, which was approved by the RBI in February.

According to sources, shareholders cited 'cultural mismatch' due to the appointment that resulted in disappointment among customers, leading to the rejection of the CEO appointment resolution.

The rejection comes just a week after Lakshmi Vilas Bank shareholders rejected the appointment of seven director, including MD & CEO S. Sundar.

The Dhanalaxmi bank's shareholders want to see whether the central bank will direct to call another AGM as per the provisions of the Banking Regulations Act.

Show Full Article
TAGS:Dhanlaxmi bank RBI Shareholders Lakshmi Vilas Bank 
Next Story