Sridhar Kalyanasundaram, an independent director of private sector lender Dhanlaxmi Bank, has resigned from the board with effect from September 16.
In his resignation letter, Kalyanasundaram has raised issues like factionalism in the board, his differences regarding rights issue and the alleged 'lack of in depth banking knowledge' in other members.
This comes after Ravindran Pillai, head of RP Group, who holds 9.99 per cent stake in the bank (largest shareholder), came out with a special notice for removal of Kalyanasundaram.