Dhanlaxmi Bank Ltd has appointed Mr. Krishnakumar K as its Chief Financial Officer for a period of three years from the date he assumes charge, succeeding Ms. Kavitha T.A. The Board approved the appointment at its meeting held on June 15, 2026. The specific date on which Mr. Krishnakumar K will take charge is yet to be informed.

Mr. Krishnakumar K has been appointed in the grade of General Manager. He is a Fellow Member of the Institute of Chartered Accountants of India and brings extensive experience to the role. His career spans 30 years, including 22 years specifically in financial reporting and taxation.

Professional Background

Prior to this appointment, Mr. Krishnakumar K served as the Chief Financial Officer of ESAF Financial Holdings Pvt Ltd. He retired as an Executive Vice President of Federal Bank Ltd, where he spent 30 years. During his tenure at Federal Bank Ltd, he headed financial reporting and taxation for 12 years. His experience covers overall supervision and control of financial reporting, taxation, and compliance functions, along with capital raising and credit-related activities.

Appointment Details

The following table summarizes the key details of the appointment:

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The necessary disclosures as required under the SEBI Master Circular were enclosed with the regulatory filing.

Dhanlaxmi Bank reported two instances of non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations during the financial year ended March 31, 2026, resulting in monetary penalties. The bank was fined for delays in submitting disclosures regarding related party transactions and the utilization of proceeds from non-convertible securities. These details were disclosed in the Secretarial Compliance Report for FY26, filed pursuant to Regulation 24A of the SEBI LODR Regulations, 2015.

The first deviation involved a delay in filing the half-yearly disclosure of related party transactions for the period ended March 31, 2025. The disclosure was submitted 15 days beyond the stipulated deadline. Consequently, BSE imposed a fine of Rs 75,000 plus GST. The bank stated that the delay was caused by unforeseen external technical glitches in the reporting system which impeded the submission process. The penalty has been paid, and the intimation was filed with the stock exchanges.

In the second instance, the bank delayed filing a statement indicating the utilization of issue proceeds of non-convertible securities for the quarter ended June 30, 2025. This submission was made 24 days late. The National Stock Exchange of India Limited (NSE) imposed a fine of Rs 24,000 plus GST for this lapse. The bank has paid the penalty and informed the exchanges. Management attributed the delay to technical issues and noted that additional checks have been put in place to avoid recurrence.

The Practicing Company Secretary, M Vasudevan, examined the bank's compliance with various regulations, including the SEBI Act, 1992, the SCRA, 1956, and specific SEBI regulations such as LODR, Issue of Capital and Disclosure Requirements, and Prohibition of Insider Trading. The report confirmed that the bank has complied with all provisions except for the matters specified in the table of deviations.

The report also confirmed that the bank has no subsidiaries, and no directors were disqualified under Section 164 of the Companies Act, 2013. All applicable policies under SEBI Regulations were adopted and updated timely. The bank maintained a functional website with accurate web-links and preserved records as prescribed. No related party transactions requiring audit committee approval were entered into during the period, other than remuneration paid to the Managing Director & CEO and Executive Director, for which shareholder approvals were obtained.