DCB Bank Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.
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DCB Bank Limited announced the results of its postal ballot conducted through remote e-voting from April 20 to May 19, 2025. Two resolutions were passed with overwhelming shareholder approval. The first, a Special Resolution to appoint Mr. Balu Srinivasan (DIN: 00397658) as Non-Executive Independent Director, received 99.98% votes in favor (13.78 crore shares) with only 30,095 dissenting votes. The second, an Ordinary Resolution to appoint Mr. Nadir Noorallah Bhalwani (DIN: 00555534) as Non-Executive Non-Independent Director, received 99.88% votes in favor (13.77 crore shares) with 1.62 lakh votes against. Promoter and promoter group voted 100% in favor of both resolutions. The scrutinizer, Mr. S. N. Viswanathan of S N Ananthasubramanian & Co., validated the results.
The near-unanimous approval reflects strong shareholder confidence in the new board appointments, strengthening the bank's governance with a fresh Independent Director and an additional Non-Independent Director. No negative governance implications — both resolutions passed cleanly.