Last checked at 8 Mar 2016 12:22
Dear Sir(s),
SUB: RE-APPOINTMENT OF DR. SANJIV MISRA AS THE NON-EXECUTIVE CHAIRMAN OF AXIS BANK LIMITED.
This is to inform you that the term of Dr. Sanjiv Misra, Nominee of SUUTI as the Non-Executive Chairman of the Bank has expired, with effect from the close of business hours on 7th March, 2016, upon completion of tenure of 3 continuous years, as approved by the Reserve Bank of India (RBI) under Section 10 B (1A) (i) of the Banking Regulation Act, 1949.
In this connection please note that SUUTI vide its letter dated 8th March, 2016 has re-appointed Dr. Sanjiv Misra as the Non-Executive Chairman of the Bank on a part time basis, for a period of three months, with effect from 8th March, 2016 upto 7th June, 2016 (both days inclusive).
Accordingly, the Bank will be obtaining the approval of the Board of Directors of the Bank to re-appoint Dr. Sanjiv Misra as the Non-Executive Chairman of the Bank on a part time basis, for a period of three months, with effect from 8th March, 2016 upto 7th June, 2016 (both days inclusive), subject to the approval of the RBI and the Shareholders of the Bank under the relevant provisions of the Banking Regulation Act, 1949,the Guidelines issued by the Reserve Bank of India, in this regard, the Companies Act, 2013, the Rules made thereunder and the SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015 and the Articles of Association of the Bank.
You are requested to take the above on record and bring this to the notice of all concerned.
Thanking you,
Yours Sincerely,
For Axis Bank Limited
Girish V. Koliyote
Company Secretary