Equitas Small Finance Bank Limited has submitted the Exchange a copy of Srutinizers report of Postal Ballot
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Equitas Small Finance Bank has announced the results of a postal ballot (e-voting) held from May 17 to June 15, 2025, in which two ordinary resolutions were passed with overwhelming shareholder approval. Resolution 1 approved the appointment of Mr. Balaji Nuthalapadi (DIN: 08198456) as Whole Time Director (Executive Director), receiving 99.91% votes in favor (627.6 million shares). Resolution 2 approved the fixing of his remuneration, passing with 99.95% votes in favor (627.9 million shares). A total of 1,510 shareholders participated in the e-voting. The scrutinizer's report was issued by A. Mohan Kumar of Mohan Kumar & Associates on June 17, 2025. Notably, Franklin Templeton's voting rights were restricted to less than 5% by RBI due to ongoing appellate proceedings related to the abrupt closure of six debt schemes.
Shareholders have approved a new Executive Director's appointment and remuneration with near-unanimous support, signaling strong investor confidence in the bank's governance. The outcome formalizes Mr. Nuthalapadi's role at the bank, likely providing leadership stability going forward.