Karnataka Bank Postal Ballot: Shareholders Approve One Independent Director Reappointment
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Mangaluru, March 6, 2026: Karnataka Bank Limited has announced the results of its postal ballot conducted through remote e-voting, revealing that shareholders approved one of the two special resolutions related to the reappointment of independent directors.
The disclosure was made to BSE Limited and National Stock Exchange of India Limited in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Postal Ballot and E-Voting Details
The bank had issued a postal ballot notice dated February 3, 2026, seeking shareholder approval for the reappointment of two Non-Executive Independent Directors.
Shareholders holding shares as of the cut-off date of January 30, 2026 were eligible to participate in the voting process. The remote e-voting facility opened on February 5, 2026 at 9:00 AM (IST) and concluded on March 6, 2026 at 5:00 PM (IST).
The bank provided the e-voting facility in accordance with provisions of the Companies Act, 2013 and applicable regulatory guidelines.
Resolutions Placed Before Shareholders
The postal ballot included the following special resolutions:
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Re-appointment of Dr. D. S. Ravindran (DIN: 09057128) as Non-Executive Independent Director.
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Re-appointment of Balakrishna Alse (DIN: 08438552) as Non-Executive Independent Director.
According to the scrutinizer’s report, only one of the two resolutions received the requisite majority approval from shareholders, while the other did not secure sufficient votes.
Scrutinizer and Voting Oversight
The Board appointed Ullas Kumar Melinamogaru, Practicing Company Secretary and proprietor of Ullas Kumar Melinamogaru & Associates, as the scrutinizer for the remote e-voting process.
The scrutinizer verified and compiled the votes cast electronically by shareholders and submitted the final report confirming the voting outcome on March 6, 2026, which was the final day of the voting period.
Disclosure and Investor Access
The bank stated that the scrutinizer’s report and detailed e-voting results have been submitted to the stock exchanges and are also available on the bank’s investor relations webpage.
The disclosure was signed by Sham K., Company Secretary and Compliance Officer of Karnataka Bank.