M.r. Shah Quits As Chairman of Mbsl Insurance Amidst Concerns
Merchant Bank of Sri Lanka (MBSL) Chairman M.R. Shah has yesterday tendered his resignation as the Chairman and Director of the subsidiary MBSL Insurance Ltd., giving a new twist to the on-going internal dispute.
Following is the full text of Shah’s resignation letter:
I note with concern that some of the Directors of MBSL Insurance Co. Ltd. have unlawfully, with insufficient notice, convened a meeting of the Board of Directors, despite the intimation of some Directors of their inability to attend, to be held at the Sri Lanka Foundation on 28 November, 2013, at 9 a.m., at which it is also proposed to review the decision placing the Managing...
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