Topic: Lakshmi Vilas Bank
During Dhanlaxmi bank’s 93rd annual general meeting, 90.49 per cent of the total valid votes were polled against Sunil Gurbaxani's appointment as MD and CEO of the bank.
In the last week, cash-strapped Lakshmi Vilas Bank has seen shareholders vote out its top management, raising concerns over the proposed merger deal with Clix Capital.
Lakshmi Vilas Bank was recently placed under Prompt Corrective Action due to high level of bad loans & negative return on assets for two consecutive years.
Indiabulls is also in legal hot water after the Delhi High Court agreed to hear a petition to investigate the company over allegations that it gave out “dubious loans”.
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