Meeting Details
This is a postal ballot process without a physical meeting. The cut-off date for determining members entitled to vote is Friday, June 5, 2026. The remote e-voting period commences on Thursday, June 11, 2026, at 9:00 a.m. IST and ends on Friday, July 10, 2026, at 5:00 p.m. IST. The results will be declared on or before Tuesday, July 14, 2026.
Proposed Resolutions and Implications
Item No. 1: Appointment of Mr. Nilesh Shivji Vikamsey (DIN: 00031213)
The resolution seeks to appoint Mr. Vikamsey as Non-Executive Independent Director for a four-year term from April 24, 2026, to April 23, 2030. He is a Chartered Accountant (B.Com, FCA) with over 40 years of experience in audit and consulting, currently serving as senior partner at KKC & Associates LLP. He holds directorships in Nippon Life India Trustee Ltd., Thejo Engineering Limited, and Tablespace Technologies Limited.
Item No. 2: Appointment of Mr. Ravindra Babu Garikipati (DIN: 00984163)
The resolution seeks to appoint Mr. Garikipati as Non-Executive Independent Director for the same four-year term (April 24, 2026-April 23, 2030). He holds M.S. in Software Systems and M.M.S. degrees with over 35 years of technology experience, including former CTO of Flipkart and President/CTO of 247.ai. He currently serves on boards of Axis Asset Management Company, NIIT Limited, and NIIT Managed Training Services.
Both directors will receive fixed remuneration of ₹28 lakhs per annum plus sitting fees for board and committee meetings, subject to Board approval. They are not liable to retire by rotation under Section 149(13) of the Companies Act, 2013.
Voting Process and Methods
The Bank is using remote e-voting only, conducted through NSDL's e-voting platform. Physical ballot forms are not being sent. The notice is being sent only via email to members whose email addresses are registered with the depositories or the Bank's registrar & transfer agent, MUFG Intime India Private Limited.
Members can vote through:
- NSDL e-voting website: https://www.evoting.nsdl.com/
- CDSL Easi/Easiest facility for CDSL account holders
- Depository participants' login facilities
- NSDL Mobile App "NSDL Speede"
Key Voting Outcomes
The voting results will be declared on or before July 14, 2026, along with the Scrutinizer's report. The results will be displayed at the Bank's registered and corporate offices, communicated to stock exchanges, and uploaded on the Bank's website (www.indusind.bank.in) and NSDL's website (www.evoting.nsdl.com).
Scrutinizer Appointment and Role
The Board has appointed Mr. Alwyn D'Souza (Membership No. FCS 5559, COP No. 5137) of Alwyn Jay & Co., Company Secretaries, as Scrutinizer. Mr. Jay D'Souza (Membership No. FCS 3058, COP No. 6915) will serve as alternate Scrutinizer if needed. The Scrutinizer will conduct the postal ballot process in a fair and transparent manner and submit a report to the Chairman.
Compliance with Laws and Regulations
The postal ballot is conducted in compliance with:
- Sections 108 and 110 of the Companies Act, 2013
- Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014
- MCA General Circulars No. 14/2020, 17/2020, and 03/2025
- Regulation 44 of SEBI Listing Regulations
- Banking Regulation Act, 1949 and RBI (Commercial Banks - Governance) Directions, 2025
- Secretarial Standard on General Meetings (SS-2)
Additional Information
Members can inspect relevant documents by sending email requests to investor@indusind.com from the date of circulation until the last day of receipt of assent/dissent. Institutional shareholders must submit scanned copies of Board Resolutions/Authority letters to the Scrutinizer at alwyn.co@gmail.com/dsouza.jay@gmail.com with copy to evoting@nsdl.com.