RBL Bank Limited informs the exchange about Proceedings of EGM held on May 4, 2026
RBLBANK · price
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RBL Bank Limited held an Extraordinary General Meeting on May 4, 2026 via video conferencing with 102 members present. The meeting passed three resolutions: (1) a Special Resolution amending the Articles of Association and granting special director nomination rights to an identified shareholder, (2) another Special Resolution amending the Articles of Association, and (3) an Ordinary Resolution approving fixed remuneration for Mr. Chandan Sinha as Non-Executive Part-time Chairman. Members expressed appreciation to the Board and Management for securing one of the largest foreign investments in the Bank, which they noted will materially accelerate the Bank's future growth and strengthen its balance sheet. Voting was conducted via remote e-voting (April 29 – May 3, 2026) and e-voting at the EGM, scrutinised by M/s S.N. Ananthasubramanian & Co. Results will be disclosed to the stock exchanges within two working days. The meeting concluded at 12:40 p.m.
The grant of special director nomination rights to an identified shareholder represents a significant governance change. The approved large foreign investment is expected to accelerate growth and strengthen the Bank's balance sheet, which is positive for shareholders.