Corporate Radar: Panchsheel Organics to go ex-dividend, Dhanlaxmi Bank board meeting & more
A meeting of the board of directors of the Dhanlaxmi Bank is scheduled today to consider/ approve the raising of funds by way of issuance of Non-Convertible Debentures (NCD5) in the form of Basel III compliant Tier 2 Bonds aggregating to Rs 300 crores.
Tech That: Banks, agents best sellers for Bajaj Allianz Life
According to the new business statement for October published by the Insurance Regulatory and Development Authority of India (IRDAI), Bajaj Allianz is the fifth-largest private life insurer in terms of total market share, behind SBI Life, Max Life, HDFC Life and ICICI Prudential Life.
Dhanlaxmi Bank shareholders cancel extra-ordinary general meeting
On October 20, a section of shareholders of Dhanlaxmi Bank, led by known businessman B Ravindran Pillai, had called an EGM of the bank on November 12, seeking to suspend chief executive officer's power on capital expenditure among other issues.
MC Explains: Why the Kerala HC ruling on the Dhanlaxmi Bank Board battle is important
The verdict on the maintainability of writ petitions can set a precedent in similar cases. The HC has ruled that a private bank’s decision to appoint its Board of Directors is a private affair.
In its order, the Kerala court termed the dismissal of Mohanan, the officer, a gross violation of the principles of natural justice. However, it did not direct Dhanlaxmi Bank to pay him pension and leave encashment benefits. Mohanan says he may move the High Court challenging that decision. The bank, too, may counter.
Banking Central | Understanding the Dhanlaxmi Bank EGM drama
The bank’s financials need to be improved and, more importantly, the board needs to be strengthened by inducting more independent shareholders who are truly independent.
Shareholders raise concerns over Dhanlaxmi Bank's financial health, rising expenses
According to rules, a group of shareholders that holds not less than one-tenth of the paid-up share capital on the date of the receipt of the requisition, carries the right of voting and can seek an EGM.