In March this year, the high court stopped the bank from holding an annual general meeting for the appointment of directors, until the legal issues are sorted
In a fresh twist to the battle between shareholders and management of Dhanlaxmi Bank, the Kerala High Court on Tuesday ruled in favour of the bank on writ petitions filed by four individuals demanding board positions.
The petitioners were P K Vijayakumar, K N Madhusoodanan, P Mohanan and Prakash D L. Their candidature for board positions had been rejected by the bank last year. The petition was filed against the Reserve Bank of India (RBI), Dhanlaxmi Bank and its board of directors. This March, the high court stopped the bank from holding an annual general meeting for the appointment of directors until the legal issues were sorted. According to sources, the court indicated that the petitions were not maintainable. A
First Published: Oct 25 2022 | 5:13 PM IST