AXIS/CO/CS/56/2024-25
April 25, 2024
Dear Sir/Madam,
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REF.:
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DISCLOSURE UNDER REGULATION 30 OF THE SEBI (LISTING
OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("SEBI
LISTING REGULATIONS")
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SUB.:
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OUTCOME OF BOARD MEETING - RE-APPOINTMENT OF
DIRECTORS
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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
