Utkarsh Small Finance Bank Limited has submitted the Exchange a copy Srutinizers report of Court Convened General Meeting held on March 28, 2026. Further, the company has informed the Exchange regarding voting results.
UTKARSHBNK · price
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Utkarsh Small Finance Bank Limited has disclosed the results of an NCLT-convened shareholders meeting held on March 28, 2026, for approval of a Scheme of Amalgamation. The scheme involves the merger of Utkarsh Coreinvest Limited (the promoter company) into Utkarsh Small Finance Bank. Shareholders overwhelmingly approved the resolution with 99.995% voting in favour out of 656,439,380 valid votes cast. Promoter votes were restricted to 26% of equity capital per Section 12(2) of the Banking Regulation Act, 1949. The meeting was conducted via video conferencing with 47 shareholders attending, and the resolution was passed with the requisite majority under Sections 230-232 of the Companies Act, 2013.
The merger of the promoter entity into the bank is a significant corporate restructuring that could streamline shareholding and strengthen the bank's ownership structure, benefiting shareholders in the long term.