Parthasara­thi Mukherjee quits LVB

Banking Frontiers - - People Track -

Parthasara­thi Mukherjee, MD & CEO of Lak­shmi Vi­las Bank, has re­signed. He said he is do­ing so on ac­count of per­sonal rea­sons. The res­ig­na­tion comes at a time when the bank is fi­nal­iz­ing modal­i­ties for its merger with In­di­a­b­ulls Hous­ing Fi­nance and the Re­serve Bank of In­dia is con­sid­er­ing the pro­posal. The board of the bank ac­cepted the res­ig­na­tion. The bank told stock ex­changes in a fil­ing that Mukherjee will be re­lieved from his ser­vices at the clos­ing hours on 31 Au­gust 2019 as per his re­quest. The merger pro­posal has been ap­proved by the board as early as April 2019 and the board had sought ap­proval of the reg­u­la­tors for the same. As per the merger pro­posal the bank’s share­hold­ers will get 14 shares of In­di­a­b­ulls Hous­ing Fi­nance for ev­ery 100 shares held in the bank.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.