- Approved all 8 resolutions with overwhelming majority
- Approved the appointment of director Ms. Debjani Ghosh under the provisions of the Companies Act, 2013;
- Approved Dividend at a rate of INR 12 per equity share of INR 10 each (120%)
- Shareholders also approved the Special Resolution to borrow/raise funds by issuance of debt securities up to a total amount of INR 20,000 crore
Mumbai: June 06, 2017
The General body of the shareholders of YES BANK, India's 4th largest Private sector bank, has approved all the 8 resolutions with an overwhelming majority, in the 13th Annual General Meeting (AGM) held on June 06, 2017. The outcome reflects a summation of votes cast electronically at the AGM venue on June 06, 2017 and through remote E-voting held from June 02 to June 05, 2017.
The shareholders approved the following:
- The appointment of Ms. Debjani Ghosh as Independent Director for a period of 5 years.
- The re-appointment of Mr. Ajai Kumar as Non-Executive Non-Independent Director.
- The shareholders also approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by issue of Debt Securities including but not limited to Non-Convertible Debentures, Medium Term Notes and Bonds up to a total amount of INR 20,000 Crore. The shareholders also approved through special resolutions to raise the total borrowing limit of the Bank to INR 70,000 Crore.
- The Shareholders approved a Dividend at a rate of INR 12 per equity share of INR 10 each (120%) as recommended by the Board of Directors of the Bank, with an overwhelming majority.
- The shareholders also adopted the annual audited financial statement for the year ended March 31, 2017 (both standalone and consolidated), with the Report of the Auditors thereon.
- Ratified the appointment of M/s. B S R & Co. LLP, Chartered Accountants, as Statutory Auditors of the Bank.
- Took on record the appointment of Mr. Ashok Chawla as Non-Executive (Independent) Chairman and approved his remuneration, in terms of the approval granted by Reserve Bank of India.
Speaking on the occasion, Mr. Ashok Chawla, Non-Executive Chairperson, YES BANK said, "We are extremely satisfied with the trust and faith shown by the institutional and retail shareholders in the Board of Directors, management’s business and financial performance, growth plans and decisions to maintain the highest professional standards. YES BANK is fully geared to capitalize on the renewed economic momentum and achieve its vision of emerging as India’s Finest BIG BANK by 2020.”
The 13th AGM of YES BANK held on Tuesday, June 06, 2017 was attended by 7 of the 8 Board of Directors participating, (except Mr. Saurabh Srivastava due to family reasons) including:
- Mr. Ashok Chawla, Non-Executive (Independent) Part-time Chairman of the Board and Chairman – Stakeholders Relationship Committee
- Mr. Vasant V. Gujarathi, Independent Director and Chairman - Audit Committee
- Mr. Brahm Dutt, Independent Director and Chairman- Nomination & Remuneration Committee
- Mr. Ajai Kumar, Non-Executive Non Independent Director, and Chairman – Risk Monitoring Committee & Board Credit Committee
- Lt. General (Dr.) Mukesh Sabharwal (Retd.), Independent Director & Chairman of Service Excellence, Branding & Marketing Committee
- Ms. Debjani Ghosh, Independent Director
- Mr. Rana Kapoor, Managing Director & CEO, YES BANK.
L to R : Mr. Ajai Kumar, Lt. General (Dr.) Mukesh Sabharwal (Retd.), Mr. Rana Kapoor, Mr. Ashok Chawla, Mr. Brahm Dutt, Mr. Vasant Gujarathi and Ms. Debjani Ghosh at the 13th AGM of YES BANK
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 28 states and 9 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/
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