Dhanlaxmi Bank MD Sunil Gurbaxani voted out by shareholders

Top Stories

»	Crude oil drops over 5 pc this week, hovers above $100 amid global uncertainty
»	All fuel outlets operating normally, rapid rollout of PNG connections underway: Centre
»	Sensex, Nifty climb one pc amid ceasefire hopes; oil price drops 7 pc
»	Gold, silver plunge up to 6 pc on global weakness, rupee hits 93.84 against US dollar
»	Global oil prices fall up to 3 pc as US signals easing of Iran crude sanctions

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.