City Union Bank Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
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City Union Bank has submitted the Scrutinizer's Report for its Postal Ballot conducted via remote e-voting from April 4 to May 3, 2025. The single resolution was to appoint Shri Ramesh Venkataraman (DIN: 10954322) as Additional Director and Whole-time Director (designated as Executive Director) for a period of three years effective February 21, 2025, on RBI-approved terms and remuneration. Shareholders overwhelmingly approved the resolution, with 98.14% of votes (365,870,682 votes from 1,036 members) in favour and only 1.86% (6,950,293 votes from 58 members) against. About 50.31% of the bank's outstanding shares were polled, indicating good shareholder participation. The resolution was passed as an Ordinary Resolution with the requisite majority.
The appointment of the Executive Director is now formally confirmed with overwhelming shareholder backing, signaling strong investor confidence in the bank's leadership decisions. This is a routine governance completion with no material financial impact expected for shareholders.