Notice of Postal Ballot
Awaiting price reaction for this filing.
Jammu and Kashmir Bank Limited has issued a Postal Ballot notice seeking shareholder approval for the appointment of Mr. Sankarasubramanian Krishnan (DIN: 07261965) as an Independent Director on the Board for a 3-year term from March 27, 2025 to March 26, 2028. Mr. Krishnan was initially appointed as an Additional Director on March 27, 2025, and this postal ballot is to formalize his appointment under the Companies Act and SEBI Listing Regulations. Voting will be conducted electronically through KFin Technologies' platform from May 24, 2025 (9:00 AM IST) to June 22, 2025 (5:00 PM IST), with results to be announced by June 24, 2025. Mr. Krishnan is a veteran banker with over 40 years of experience, having served as MD & CEO of Punjab & Sind Bank and Tamilnad Mercantile Bank, and Executive Director of Syndicate Bank and Canara Bank. He will receive sitting fees of Rs. 40,000 per board/committee meeting plus a fixed remuneration of Rs. 10 lakhs per annum.
This is a routine corporate governance action that should not materially impact the stock price. The appointment of a highly experienced former public sector bank MD & CEO strengthens the board's expertise, particularly in banking, risk management, and digital transformation, which is generally viewed positively by investors.