India's Dhanlaxmi Bank shareholders seek to curb CEO spending powers

The shareholders seek to suspend powers exercised by CEO Shivan JK in respect of all capital and revenue expenditure, except statutory payments such as salaries and wages. According to the proposed shareholder resolution, all suspended spending powers will be jointly exercised by any two non-executive directors of the board.

from Banking/Finance-Industry-Economic Times https://ift.tt/zxI4ehD