Dhanlaxmi Bank

All-India Bank Officers' Confederation Questions Financial Status of Dhanlaxmi Bank

All-India Bank Officers' Confederation Questions Financial Status of Dhanlaxmi B

"The allegations are baseless and we do not know from where they have pulled out these numbers. None of these numbers match with our internal numbers", said Bipin Kabra, the Chief Financial Officer of Kerala-based Dhanlaxmi Bank, in a statement soon after a noteworthy market deviation where the bank shares recovered 5% during afternoon trade.

Dhanlaxmi Bank Faces Manipulation Charges

Dhanlaxmi Bank Faces Manipulation Charges

Dhanlaxmi Bank Ltd. is thinking to drag the All-India Bank Officers Confederation (AIBOC) to courts after its shares fell down due to fabricated report submitted by the AIBOC to Reserve Bank of India.

AIBOC prepared a faulty report and without verifying it with the bank’s management they submitted it to RBI, who in turn asked to submit Rs100 crore as a fine for crossing net worth limit and for showing unaccounted expenses.

Dhanlaxmi Calls Off R2.9 Billion Deal

Dhanlaxmi Calls Off R2.9 Billion Deal

A plan to raise 2.9 billion rupees has been called off by Dhanlaxmi Bank. It was meant to sell 19.6% of its stake to a group of investors after one of them has backed out. The US based Customers Bancorp Inc. was planning to purchase a 4.9% stake in the bank through share issues. Later, they had to withdraw from the deal because of “certain regulatory reasons”.