AGM Statement

6 Jun 2008 09:59

SUB : RESOLUTIONS PASSED BY SHAREHOLDERS AT AGM HELD ON 6TH JUNE, 2008 - AXIS BANK 

At the Annual General Meeting held today at Ahmedabad the following resolutions were passed by the shareholders of the Bank :

The payment of dividend at 60% (i.e. Rs. 6/- per equity share) has been approved. The dividend warrants will be dated and payable from June 7, 2008.

Shri N. C. Singhal, Shri J. R. Varma and Shri R. B. L. Vaish retired by rotation and were reappointed as Directors.

M/s S. R. Batliboi & Co. were reappointed as the Statutory Auditors of the Bank for the year 2008-09.

Shri K. N. Prithviraj who was appointed as an Additional Director by the Board w.e.f. 9th January, 2008 was appointed as a Director by the shareholders. 

Subject to approval of Reserve Bank of India, the remuneration payable to Shri P. J. Nayak as Chairman & CEO of the Bank, w.e.f. 1st April, 2008 was approved.

A resolution pursuant to section 81 and all other applicable provisions of the Companies Act, 1956 authorising the Board of Directors of the Bank to issue, offer and allot additional 79,70,000 equity stock options convertible into Equity Shares to the present and future employees and Whole-Time Directors of the Bank under the Employee Stock Option Scheme (ESOS).