Dhanlaxmi Bank gets legal breather in fresh twist to tussle for board seat

Kerala HC on Tuesday ruled in favour of the bank on the issue of writ petitions filed by four persons demanding board positions

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