Dhanlaxmi Bank Limited (DHANBANK.BO)

India's Dhanlaxmi Bank shares recover from plunge led by director exit

BENGALURU (Reuters) -Shares of private lender Dhanlaxmi Bank recovered on Monday after plunging 9% following the exit of Sridhar Kalyanasundaram, an independent director who cited differences with the board on matters including the bank's rights issue and capital position. Kalyanasundaram was appointed as independent director of the Thrissur, Kerala-headquartered bank in December 2022. In a letter dated Sept.16, sent to the exchanges on Sunday, Kalyanasundaram said he raised questions over a planned rights issue of the bank, which remain unresolved.