Dhanlaxmi Bank shareholders reject appointment of auditors

Dhanlaxmi Bank shareholders reject appointment of auditors

October 1, 2021 Off By Sindy Thompson

Shareholders of the Thrissur-based Dhanlaxmi Bank rejected the appointment of statutory central and branch auditors at the annual general meeting held on Wednesday, the bank said in a regulatory filing.

Simultaneously, the Kerala High Court did not allow the bank to conclude the AGM, but adjourned it for a month from September 29.

Gopinathan gets nod

The shareholders also rejected the resolution to authorise the board to appoint and fix the remuneration of branch auditors. Shareholders approved the audited financial results of the bank and the appointment of Gopinathan CK as a director.

According to the regulatory filing, 65.44 per cent of the shareholders present at the AGM voted against the proposal to appoint PB Vijayaraghavan & Co, Chartered Accountants, Chennai, as statutory auditors as also the appointment of branch auditors.

The Kerala High Court directive comes in the wake of a writ petition filed by KN Madhusoodanan, a shareholder, P Mohanan and Prakash DL, seeking a direction from the court to place their candidatures also for the directorship at the AGM.

The stock of Dhanlaxmi Bank closed 0.94 per cent higher at ₹16.10 on the BSE.