REG - Axis Bank Ltd Axis Bank Ltd (144A) - Re-appointment of Directors

Axis BankAnnouncement

25/04/2024 07:45

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RNS Number : 0061M  Axis Bank Limited  25 April 2024

AXIS/CO/CS/56/2024-25

 

April 25, 2024

 

Dear Sir/Madam,

 

 REF.:  DISCLOSURE UNDER REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE
        REQUIREMENTS) REGULATIONS, 2015 ("SEBI LISTING REGULATIONS")
 SUB.:  OUTCOME OF BOARD MEETING - RE-APPOINTMENT OF DIRECTORS

Pursuant to Regulation 30 of the SEBI Listing Regulations, we would like to
inform you that the Board of Directors (the "Board") of Axis Bank Limited (the
"Bank") at its meeting held today, i.e., April 25, 2024, has approved the
following:

 

Re-appointment of Amitabh Chaudhry as Managing Director & Chief Executive
Officer ("MD & CEO")

 

Based on the recommendations of the Nomination and Remuneration Committee, the
Board approved the re-appointment of Amitabh Chaudhry as MD & CEO of the
Bank, for a further period of three years with effect from January 1, 2025 up
to December 31, 2027 (both days inclusive), subject to approval of the Reserve
Bank of India (RBI) and approval of the members, in terms of applicable laws.

 

Amitabh Chaudhry is not related to any of the directors or key managerial
personnel of the Bank.

 

Further, in line with the Stock Exchange Circular dated June 20, 2018, it is
hereby confirmed that he is not debarred from holding the office of director
by virtue of any SEBI order or any other such authority.

 

Brief profile of Amitabh Chaudhry is enclosed as Annexure A.

 

Re-appointment of Independent Directors:

 

Based on the recommendations of the Nomination and Remuneration Committee, the
Board approved:

 

(a) the re-appointment of Meena Ganesh as an independent director of the Bank
for second term of four years with effect from August 1, 2024 up to July 31,
2028 (both days inclusive), subject to approval of the members of the Bank.

(b) the re-appointment of Gopalaraman Padmanabhan as an independent director
of the Bank for second term of four years with effect from October 28, 2024 up
to October 27, 2028 (both days inclusive), subject to approval of the members
of the Bank.

 

In terms of Section 149(13) of the Companies Act, 2013, Meena Ganesh and
Gopalaraman Padmanabhan shall not be liable to retire by rotation during their
tenure as independent directors of the Bank.

 

Meena Ganesh and Gopalaraman Padmanabhan are not related to any of the
directors or key managerial personnel of the Bank.

 

Further, in line with the Stock Exchange Circular dated June 20, 2018, it is
hereby confirmed that they are not debarred from holding the office of
director by virtue of any SEBI order or any other such authority.

 

Brief profiles of Meena Ganesh and Gopalaraman Padmanabhan is enclosed as
Annexure A.

 

The Board meeting commenced at 09:30 am (IST) and the above proposals were
approved at 10:45 am (IST).

 

This is for your information and records.

 

Thanking You.

 

Yours faithfully,

 

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

http://www.rns-pdf.londonstockexchange.com/rns/0061M_1-2024-4-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0061M_1-2024-4-25.pdf)

 

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