Dhanlaxmi Bank may appoint former SBI official J K Shivan as its MD & CEO

Sunil Gurbaxani was voted out after bitter battle with the Board

Dhanlaxmi Bank Limited is planning to appoint J K Shivan as the Managing Director & CEO of the Bank.

Shareholders of Kerala-based Dhanlaxmi Bank had voted against former managing director and CEO Sunil Gurbaxani on September 30. He, however, alleged that directors put pressure on him to quit after he raised various governance issues.

The Board of Directors of the bank recommended a panel of candidates to Reserve Bank of India for appointment as Managing Director & CEO. One of the candidates recommended by the Board was Shivan. The banking regulator has directed the Bank to submit a proposal before