Last checked at 27 Oct 2015 14:25
27th October 2015
Dear Sir(s),
SUB.: OUTCOME OF 166TH BOARD MEETING OF AXIS BANK LIMITED HELD ON 27TH OCTOBER 2015
REF.: CLAUSE 36 OF THE LISTING AGREEMENT IN INDIA
This is to inform you that the Board of Directors of the Bank has, at its meeting held today at the Corporate Office of the Bank, inter-alia, transacted the following items of business:-
1) Re-appointment of Shri Prasad R. Menon as an Independent Director of the Bank
The Board of Directors of the Bank have approved the re-appointment of Shri Prasad R. Menon as an Independent Director of the Bank, from 23rd January 2016 up to 8th October 2018 (both days inclusive) in terms of the relevant provisions of the Banking Regulation Act, 1949, Guidelines issued by RBI, Companies Act, 2013 read with Rules made thereunder and Clause 49 II of the Listing Agreement.
2) Appointment of Shri Rakesh Makhija as an Additional Independent Director of the Bank
The Board of Directors of the Bank have appointed Shri Rakesh Makhija as an Additional Independent Director of the Bank with effect from 27th October 2015 to hold office as such upto the date of the ensuing Annual General Meeting of the Bank, in terms of Sections 149, 152 and 161 of the Companies Act, 2013 read with Rules made thereunder and Clause 49 II of the Listing Agreement.
3) Re-designation of Shri. V. Srinivasan, Whole Time Director of the Bank as the 'Deputy Managing Director' of the Bank
The Board of Directors of the Bank have approved the re-designation of Shri V. Srinivasan, Whole Time Director of the Bank as the 'Deputy Managing Director' of the Bank with effect from 15th October 2015.
4) Appointment of Shri Jairam Sridharan as the Chief Financial Officer of the Bank
The Board of Directors of the Bank have approved the appointment of Shri Jairam Sridharan as the Chief Financial Officer of the Bank, with effect from 28th October 2015.
Shri Sanjeev Kumar Gupta will continue to be the Whole-Time Director designated as Executive Director (Corporate Centre) of the Bank.
5) Approval of Shareholders by way of a Postal Ballot
The Board of Directors of the Bank will be seeking the approval of the Shareholders by means of Postal Ballot for the re-appointment of Shri Prasad R. Menon as an Independent Director of the Bank, from 23rd January 2016 up to 8th October 2018 (both days inclusive) in terms of the relevant provisions of the Banking Regulation Act, 1949, the Guidelines issued by RBI, Companies Act, 2013 read with Rules made thereunder and Clause 49 II of the Listing Agreement.
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You are requested to take note of above and arrange to bring it to the notice of all concerned.
Thanking You.
Yours sincerely,
For Axis Bank Limited
Girish V. Koliyote
Company Secretary
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