Our Bank has informed the Exchange about Copy of Newspaper Publication for Notice of Postal Ballot to the members
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City Union Bank has published a postal ballot notice in Business Line (English) and Dinamalar (Tamil) on March 5, 2026, seeking shareholder approval through remote e-voting on four key items. These include the appointment of Shri. K Subramanian as an Independent Director (Special Resolution) and the appointment of Shri. R. Vijay Anandh as Managing Director & CEO effective May 1, 2026 (Ordinary Resolution). The bank is also seeking approval for revisions to fixed remuneration of current MD & CEO Dr. N. Kamakodi (effective May 1, 2025) and Executive Director Shri. R. Vijay Anandh (effective June 24, 2025), both as approved by the RBI. Remote e-voting opens on March 5, 2026 and closes on April 3, 2026, with results expected on or before April 7, 2026. The cut-off date to determine eligible voters was February 20, 2026.
These are routine governance and remuneration approvals, but the leadership transition (Vijay Anandh moving to MD & CEO role) and pay revisions for top executives are material to shareholders. Approval of these resolutions would formalize the bank's leadership succession plan, which may be viewed as positive for continuity, though executive pay hikes could draw scrutiny from minority investors.