Mumbai, Oct 5: The 56th annual general meeting of Bank of Rajasthan (BoR) concluded peacefully at Udaipur on Tuesday with the Mumbai-based Tayals group defeating all the resolutions seeking appointment of Bangur-nominated directors to the bank's board. Today's AGM was convened as the earlier meeting on September 28 was cancelled after the Tayal and the Bangur groups clashed on the issue of the appointement of a chairman for conducting the AGM.Sources said that all ordinary resolutions which were put to vote witnessed the Tayals' victory with proxies showing 80 lakh votes in favour of the Tayals and 32 lakh for the Bangurs. Backed by the Reserve Bank of India, the Tayals have successfully elbowed out the Bangur group from the board of the BoR, sources said.
Earlier, the RBI appointed Pravin Kumar Tayal as the interim chairman of the BoR from October 4 to March 31, 2000 which cleared the air of uncertainity over the AGM. This the second time that the central bank has appointed Tayal as the part-time chairman.
On December 10, 1998 the RBI sacked the Bangurs-nominated chairman and appointed PK Tayal as an interim chairman.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.