The Karnataka Bank Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the Bank has informed the Exchange regarding voting results.
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Karnataka Bank conducted a postal ballot via e-voting from February 5, 2026 to March 6, 2026 to seek shareholder approval on two special resolutions. The resolutions concerned the re-appointment of Dr. D.S. Ravindran and Mr. Balakrishna Alse as Non-Executive Independent Directors. According to the Scrutinizer's Report (CS Ullas Kumar Melinamogaru), only one of the two special resolutions was approved by members with the requisite majority. The Bank has submitted the Scrutinizer's Report and voting results to the stock exchanges as required under Regulation 44 of the SEBI Listing Regulations.
One of the two independent director re-appointments has been rejected by shareholders, which is a notable outcome that may raise governance questions and create uncertainty around the board composition. Investors should watch for further clarification from the Bank on which resolution failed and the next steps.