Shares soared nearly 5 percent. The surge comes after the stock price tanked nearly 7 percent on the news of an independent director resigning from the post. Sridhar Kalyanasundaram, one of the independent directors of Kerala-based Dhanlaxmi Bank, resigned on September 16, citing multiple issues in the bank's operations and an internal battle within the Board, according to a communication from the bank to exchanges on September 17.
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