Kotak Mahindra Bank Gets 99%+ Votes to Appoint Anup Saha, Clears FY27 Debt Raise

Mumbai, March 4, 2026: Kotak Mahindra Bank Limited has received shareholder approval for two key proposals through a Postal Ballot conducted via remote e-voting. As per the Scrutinizer’s Report dated March 4, 2026, both resolutions were passed with the requisite majority.

The Bank had sought approval for the appointment of a Whole-Time Director and for raising funds through debt securities in FY 2026–27.

Resolution 1: Appointment of Anup Kumar Saha as Whole-Time Director

Shareholders approved the appointment of Mr. Anup Kumar Saha as Director and Whole-Time Director (Executive Director) of the Bank along with payment of remuneration.

Type: Ordinary Resolution
Votes in Favour: 8,33,28,29,493 (98.8674%)
Votes Against: 9,54,54,995 (1.1336%)
Total Members Voted: 3,955

The resolution is deemed to have been passed on March 4, 2026, being the last date of remote e-voting.

Resolution 2: Approval to Issue Debt Securities in FY27

Shareholders also approved the issuance of:

Unsecured, Redeemable, Non-Convertible Debentures (NCDs) / Bonds / other Debt Securities on a private placement basis during FY 2026–27.

Type: Special Resolution
Votes in Favour: 8,42,83,28,627 (99.9980%)
Votes Against: 1,65,365 (0.0020%)
Total Members Voted: 3,951

The overwhelming majority reflects strong shareholder backing for the Bank’s capital planning strategy.

Voting and Compliance Details

Remote e-voting period: February 3, 2026 (9:00 AM IST) to March 4, 2026 (5:00 PM IST)
Cut-off date: January 30, 2026
Total shareholders on record date: 7,65,721
E-voting service provider: National Securities Depository Limited

The Postal Ballot process was conducted in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Scrutinizer, Alwyn D’Souza, Practising Company Secretary, confirmed that the voting process was carried out in a fair and transparent manner.

The results have been submitted to:

BSE Limited
National Stock Exchange of India Limited

and have also been made available on the Bank’s official website.

What This Means for Investors

The approval strengthens the Bank’s executive leadership structure and provides flexibility to raise funds through debt markets in FY27. The near-unanimous support, particularly for the debt issuance proposal, signals high institutional and public shareholder confidence.

Kotak Mahindra Bank continues to focus on governance, capital efficiency, and sustainable expansion within India’s banking sector.