Intimation under Regulation 30 & 44 of SEBI (LODR) Regulations, 2015- Notice of Postal Ballot
FEDERALBNK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Federal Bank is seeking shareholder approval via postal ballot for three ordinary resolutions. First, the re-appointment of Mr. Harsh Dugar as Executive Director for 3 years from June 23, 2026, with total annual compensation of Rs. 4.5 crore including fixed pay of Rs. 2 crore and variable pay of Rs. 2.5 crore. Second, payment of Rs. 76.71 lakh as variable pay cash component to Mr. Shyam Srinivasan, the former MD & CEO who retired in September 2024 after 14 years of distinguished service. Third, payment of Rs. 25 lakh as variable pay cash component to Ms. Shalini Warrier, former Executive Director for FY 2024-25 performance. All three items have received RBI approval. Remote e-voting runs from May 6, 2026 to June 4, 2026.
The re-appointment of Harsh Dugar ensures continuity in the Bank's senior leadership. The variable pay approvals for former top executives represent routine post-retirement compensation settlements consistent with RBI guidelines, with no direct impact on current shareholders beyond confirming appropriate executive compensation practices.