Exit was outcome of being truthful and ethical: Dhanalaxmi Bank's Gurbaxani

In a Q&A the lender's MD and CEO dwells on the drama surrounding his ouster at the AGM and how the directors pressurised him to quit after he raised various Governance issues

On September 30, shareholders of Kerala-based Dhanlaxmi Bank voted against the lender's Managing Director and CEO Sunil Gurbaxani, who had been appointed for three years starting February 2020. Gurbaxani spoke to T E Narasimhan about the entire drama and how the Directors put pressure on him to quit after he raised various Governance issues. Excerpts:

How do you react to the recent outcome of the AGM?

I wasn't too surprised since the threat had come to me in person from two directors. They accused me of trying to clip the wings of their friend, who has been in the bank