REG - Axis Bank Ltd Axis Bank Ltd (144A) - Change in Management

Axis BankAnnouncement

17/01/2025 15:00

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RNS Number : 8164T  Axis Bank Limited  17 January 2025

AXIS/CO/CS/597/2024-25

 

January 17, 2025

 

 

Dear Sir/Madam,

 

 REF.:  DISCLOSURE UNDER REGULATIONS 30 OF THE SEBI (LISTING OBLIGATIONS AND
        DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS")

 SUB.:  RE-APPOINTMENT OF PROF. S. MAHENDRA DEV AS INDEPENDENT DIRECTOR OF AXIS BANK
        LIMITED

 

This is to inform you that in terms of the applicable laws and based on the
recommendation of the Nomination and Remuneration Committee of Directors, the
Board of Directors at its meeting held today, i.e., Friday, January 17, 2025,
approved the re-appointment of Prof. S. Mahendra Dev as an Independent
Director of the Bank, for second term of four years effective from June 14,
2025 to June 13, 2029 (both days inclusive), subject to approval of the
members of the Bank.

 

Please note that Prof. S. Mahendra Dev is not debarred from holding the office
of a director, by virtue of any SEBI order or any other such authority.

 

The details required as per SEBI circular no. SEBI/HO/CFD/PoD2/CIR/P/0155
dated November 11, 2024, are enclosed as Annexure A.

 

You are requested to take the above on record and bring this to the notice of
all concerned.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

Sandeep Poddar

Company Secretary

 

Encl: as above

CC:

London Stock Exchange

Singapore Stock Exchange

 

Annexure A

 

 Sr No.  Particulars                                          Prof. S. Mahendra Dev
 1       Reason for Change                                    Re- appointment
 2       Date of re-appointment & term of re-appointment      Four years effective from June 14, 2025 to June 13, 2029 (both days
                                                              inclusive).
 3       Brief profile                                        Prof. S. Mahendra Dev, age 67 years, is the Chairman of the Institute for
                                                              Development Studies, Andhra Pradesh, Visakhapatnam, since February 26, 2022.

                                                              Prior to this position, he was the Director and Vice Chancellor of Indira
                                                              Gandhi Institute of Development Research from 2010 to 2022, Chairman of the
                                                              Commission for Agricultural Costs and Prices, Ministry of Agriculture from
                                                              2008 to 2010. He was Vice Chairman of the Board of Trustees of International
                                                              Food Policy Research Institute (IFPRI), Washington, D.C. He was also member of
                                                              the Board of IFPRI for seven years from 2013 to 2019. He was member and Acting
                                                              Chairman of the National Statistical Commission, Government of India. He got
                                                              the prestigious Malcolm Adiseshiah Award in 2016. He was Director, Centre for
                                                              Economic and Social Studies, Hyderabad, India for 9 years from 1999 to 2008.
                                                              He was independent director of the Board of Kotak Mahindra Bank for 8 years
                                                              during March 15, 2013 to March 14, 2021 and independent director of Kotak
                                                              Mahindra Prime Ltd., during March 30, 2015 to June 2, 2021.

                                                              He is an expert on agriculture and rural economy, economics and cooperation.
                                                              He received his Ph.D. from the Delhi School of Economics and did his
                                                              postdoctoral research at Yale University. His main areas of interest are
                                                              agriculture, rural economy, rural non-farm sector, cooperation, economic
                                                              growth, global economy, macro policies, employment and unemployment,
                                                              employment policies, social protection, development economics and social
                                                              sector.

                                                              He has around 200 research publications in national and international journals
                                                              in the areas of agricultural development, poverty and public policy,
                                                              inequality, food security, nutrition, employment guarantee schemes, social
                                                              security, farm and nonfarm employment. He has written or edited 19 books. His
                                                              well cited publication is "Inclusive Growth in India: Agriculture, Poverty,
                                                              and Human Development" published by Oxford University Press. His book
                                                              "Perspectives on Equitable Development" was released by the former Prime
                                                              Minister of India.
 4       Disclosure of                                        Prof S. Mahendra Dev is not related to any other Directors or Key Managerial

                                                    Personnel of the Bank.
         relationship between

         directors

 

http://www.rns-pdf.londonstockexchange.com/rns/8164T_1-2025-1-17.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8164T_1-2025-1-17.pdf)

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