Decisions taken at Board Meeting

4 Aug 2009 13:04

Axis Bank Limited - Decisions taken at Board Meeting held on 4th August, 2009

At the meeting of the Board of Directors of the Bank held today, the following decisions were taken:

Raising Tier - I capital of the Bank by issue of equity shares not exceeding 7,14,28,570 equity shares through GDRs / QIP issue and Preferential issue to promoters of the Bank.

Increasing the maximum strength of the Board of Directors of the Bank from 12 to 15 and Alteration to Articles of Association of the Bank for increasing the maximum number of Directors to 15. This increase will be subject to approval of the Central Government. 

Appointment of Shri M. M. Agrawal, Executive Director (Corporate Banking) of the Bank as Deputy Managing Director (Designate) with effect from 4th August, 2009 till 31st August, 2010 (the last day of the month in which he reaches the age of superannuation).

Seeking approval of shareholders to the above proposals through postal ballot.