Money & Banking

LVB additional director Supriya Prakash Sen resigns citing personal reasons

PTI New Delhi | Updated on October 02, 2019 Published on October 02, 2019

Lakshmi Vilas Bank (LVB), on Wednesday, said Supriya Prakash Sen has resigned from its board on personal grounds. The resignation comes days after the RBI initiated prompt corrective action against the private sector lender on September 28.

Supriya Prakash Sen has resigned from the directorship of the bank on October 2, the bank said in a regulatory filing, enclosing her resignation letter with it. Sen had been appointed additional director on the board in June 2019.

“Thank you for your letter dated September 30 appointing me as a Non-Executive Independent Director of the bank. I am sincerely touched by the confidence reposed in me by the board and the shareholders of the bank. I am also appreciative of the opportunity to serve the bank as additional director on the board for the past three months,” Sen said in the resignation letter.

“However, as discussed, there has been some recent shift in my personal priorities and, therefore, I regret that I cannot accept your kind offer, due to personal reasons,” Sen added.

Earlier this week on Monday, Indiabulls Housing Finance had said that the RBI’s action against it would not impact its merger with Lakshmi Vilas Bank.

Published on October 02, 2019
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