Dhanlaxmi Bank MD Sunil Gurbaxani voted out by shareholders

Top Stories

»	Sensex, Nifty extend rally for 3rd day on hopes of US-Iran de-escalation
»	CAIT urges govt to implement credit relief, input cost stabilisation measures amid Iran war
»	RBI MPC meet begins, status quo on policy rate likely amid West Asia tensions
»	Govt launches programme to train scientists in Governance under Mission Karmayogi
»	India's fisheries sector draws Rs 39,272 crore investment since 2015, seafood exports double

SME Times News Bureau | 30 Sep, 2020
The shareholders of Kerala-based small private sector Dhanlaxmi Bank on Wednesday voted out Managing Director and CEO Sunil Gurbaxani at the annual general meeting (AGM).

The ordinary resolution moved for Gurbaxani's appointment was defeated, with 90.49 per cent of the votes polled against the proposal, as per the regulatory filing.

Only 9.51 per cent of the votes were polled in favour of his appointment.

Out of the 10 resolutions moved at the AGM, the shareholders had passed nine and defeated one.

This is the second private bank where the shareholders have voted against the appointment of the Managing Director and CEO in recent days.

Earlier, the shareholders of Lakshmi Vilas Bank (LVB) had voted out seven directors, including the Managing Director and CEO, in the AGM.