REG - Axis Bank Ltd Axis Bank Ltd (144A) - Cessation of Director

Axis BankAnnouncement

20/12/2021 07:01

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RNS Number : 1125W  Axis Bank Limited  20 December 2021

AXIS/CO/CS/493/2021-22

 

December 18, 2021

Dear Sir(s),

 

SUB.:  CESSATION OF TENURE OF STEPHEN PAGLIUCA, NON-EXECUTIVE (NOMINEE)
DIRECTOR OF AXIS BANK LIMITED ("BANK").

 

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

 

This is to inform you that Stephen Pagliuca has ceased to be the Non-Executive
Director (Nominee of entities affiliated to Bain Capital) of the Bank, with
effect from the close of business hours on Saturday, December 18, 2021, upon
expiry of his tenure pursuant to the Investment Agreement between the Bank and
BC Asia Investments VII Limited, Integral Investments South Asia IV and BC
Asia Investments III Limited ("Investment Agreement"). Consequently, the
tenure of Ashish Kotecha as an Alternate Director to the Original Director,
Stephen Pagliuca has also expired with effect from the said date.

 

Further, kindly note that the Bank vide its letter no. AXIS/CO/CS/483/2021-22
dated December 14, 2021 has already informed the exchanges regarding the
appointment of Ashish Kotecha as an Additional Non-Executive (Nominee of
entities affiliated to Bain Capital) Director of the Bank with effect from
Sunday, December 19, 2021, pursuant to the Amendment Agreement to Investment
Agreement between the Bank and BC Asia Investments VII Limited, Integral
Investments South Asia IV and BC Asia Investments III Limited.

 

On behalf of the Bank, we would like to acknowledge the contributions rendered
by Stephen Pagliuca during his tenure as a Non-Executive Director and place on
record our deep appreciation for his insights and suggestions at the meetings
of the Board/Committees of the Bank.

 

You are requested to take note of above and arrange to bring it to the notice
of all concerned.

 

Thanking You.

Yours Sincerely,

For Axis Bank Limited

 

 

 

Puneet Sharma

President & Chief Financial Officer

 

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