The Karnataka Bank Limited has informed the Exchange regarding Cessation of Mr.Justice Arakalgud Venkataramaiah Chandrashekar as Non- Executive Independent Director of the Bank from the closure business hours of today i.e., August 18, 2025.
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Karnataka Bank has informed the stock exchanges that Mr. Justice Arakalgud Venkataramaiah Chandrashekar (DIN: 08829088) has ceased to be a Non-Executive Independent Director of the Bank with effect from the close of business hours on August 18, 2025. The cessation is due to the completion of his tenure and not due to resignation or any governance concern. The disclosure was made under SEBI LODR Regulation 30. The bank is required to fill the vacancy in due course as per board composition norms.
This is a routine event with no material impact on the bank's operations or shareholders. Investors should monitor whether a replacement Independent Director is appointed within the timelines prescribed under SEBI/Companies Act rules to ensure board composition compliance.