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.