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BENGALURU, Sept 18 - 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. The bank is currently led by Chief Executive Officer Shivan J.K.
Kalyanasundaram also alleged that he was threatened of being"sacked from the bank" for raising these concerns. Kalyanasundaram wrote that the bank had regularly dismissed whistle-blower complaints even though some contained material allegations.
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