Kalyanasundaram noted that the bank board has been in receipt of numerous complaints of both the anonymous and
the signed varieties but has been singularly focused on dismissing all of them as "the habit in this bank over time."
Levelling serious charges against Board including unethical conduct, Dhanlaxmi Bank Director resigns thestatesman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestatesman.com Daily Mail and Mail on Sunday newspapers.
Dhanlaxmi Bank stock has given a return of 100.12 percent over the last six months. The benchmark Nifty Bank index has given a return of 17.45 percent over the same duration.
Charging Dhanlaxmi Bank Ltd s board of directors with unethical conduct, unilateral arrogation of power, lack of comprehension of issues and factionalism, independent director Sridhar Kalyanasundaram resigned just before the Bank s annual general meeting (AGM) on 30th September.
In his resignation letter, Kalyanasundaram cited alleged factionalism by board members, unethical business conduct and irregularities by managing director Shivan JK in holding board and committee meetings. But before this, minority shareholders as well as employees organisations had on several occasions in the recent past questioned the banks functioning.