The Karnataka Bank Limited has informed the Exchange regarding Notice of Postal Ballot for Re-appointment of Non-Executive Independent Directors
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Karnataka Bank has issued a postal ballot notice seeking shareholder approval to re-appoint two of its independent directors for a second three-year term. The two directors are Mr. Justice A. V. Chandrashekar (71, former Karnataka High Court judge) and Mr. Pradeep Kumar Panja (69, retired MD of SBI's Corporate Banking wing). Both directors' current five-year terms end on August 18, 2025, and the proposed re-appointments would run from August 19, 2025 to August 18, 2028. The bank noted both have been rated 'very good' in performance evaluations, meet RBI's fit-and-proper norms, and fall within the 75-year age and 8-year tenure caps. E-voting runs from June 30 to July 29, 2025, with results expected by July 31, 2025.
This is a routine governance exercise to retain experienced independent directors ahead of their term expiry. No material impact is expected on shareholders or the stock price, though approval is needed to ensure board continuity.