Dhanlaxmi Bank gets shareholders’ nod to hike authorised share capital to Rs 400 cr

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October 1, 2020 5:33 PM

The shareholders of the bank approved a resolution to this effect at the 93rd Annual General Meeting (AGM) held on Wednesday, it said in a regulatory filing.

The increase in the limit is consequent to alteration to the Memorandum & Articles of Association of the bank, subject to the approval of the Reserve Bank of India, it said.The increase in the limit is consequent to alteration to the Memorandum & Articles of Association of the bank, subject to the approval of the Reserve Bank of India, it said.

Dhanlaxmi Bank on Thursday said its shareholders have approved raising the authorised share capital of the bank to Rs 400 crore from Rs 300 crore earlier.

The shareholders of the bank approved a resolution to this effect at the 93rd Annual General Meeting (AGM) held on Wednesday, it said in a regulatory filing.

The increase in the limit is consequent to alteration to the Memorandum & Articles of Association of the bank, subject to the approval of the Reserve Bank of India, it said.

Besides, the shareholders also approved reappointment of P B Vijayaraghavan & Co, Chartered Accountants, Chennai as the statutory central auditors of the bank. The auditors’ reappointment had been approved by RBI in August, it said.

In the AGM, shareholders ousted the bank’s Managing Director and CEO Sunil Gurbaxani, a little over seven months after he assumed the charge , as per a BSE filing on Wednesday.

On Tuesday, RBI appointed D K Kashyap, General Manager at the central bank’s Bengaluru Regional Office, as an Additional Director on Dhanlaxmi Bank’s board till September 27, 2022.

Dhanlaxmi Bank stock closed at Rs 12.39 on BSE, up 0.49 per cent from previous close.

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