MUMBAI - ICICI Bank Limited has announced the approval of several key resolutions by its shareholders through a postal ballot, as per the scrutinizer's report dated May 15, 2024. The voting, which concluded on Tuesday, May 14, 2024, included the appointment of Mr. Pradeep Kumar Sinha as an Independent Director, effective from February 17, 2024, and Mr. Ajay Kumar Gupta as a Director and Whole-time Director (designated as Executive Director) starting March 15, 2024.
Shareholders also voted in favor of revising compensation for non-executive directors, including Mr. Sinha as the Non-Executive Part-time Chairman effective from July 1, 2024, or from the date of approval from the Reserve Bank of India, whichever is later. Additionally, the revision in fixed remuneration of Mr. Girish Chandra Chaturvedi, the Non-Executive (Part-time) Chairman, was approved.
The resolutions were passed with a significant majority, with the appointment of Mr. Sinha as an Independent Director receiving 99.7066% votes in favor. The compensation payable to Mr. Sinha as Non-Executive Part-time Chairman and the revision in compensation for the Non-Executive Directors received 99.9566% and 99.9151% votes in favor, respectively. The revision in fixed remuneration of Mr. Chaturvedi was supported by 99.9941% of the votes, and the appointment and remuneration of Mr. Gupta received 99.0189% approval.
The electronic voting process was scrutinized by Ms. Vinita Nair, Senior Partner of Vinod Kothari & Company, Practicing Company Secretaries. The results, as validated by the scrutinizer, confirm that all resolutions were passed with the requisite majority.
The bank has made the voting results available in the prescribed format under Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which will be submitted in XBRL mode. These results can also be accessed on the bank's website.
This information is based on a press release statement from ICICI Bank Limited, providing an update on the company's recent shareholder voting outcomes.
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