Nature of the Event
Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding change in directorate of Karnataka Bank Ltd.
Key Details of Appointment
The Board of Directors of Karnataka Bank Ltd, at their meeting held on July 18, 2026, appointed Dr. M Aruna Shyam (DIN: 11789970) as an Additional Director in the category of Non-Executive, Independent Director of the Bank.
The appointment is effective from July 18, 2026, for a period of four years.
Regulatory Compliance Confirmation
The disclosure confirms that Dr. M Aruna Shyam has not been debarred from holding the office of a Director by virtue of any order passed by SEBI or any other authority, as required by BSE Circular No.: LIST/COMP/14/2018-19 dated June 20, 2018 and NSE Circular No.: NSE/CML/2018/24 dated June 20, 2018.
Approval Requirements
The appointment is subject to the approval of the shareholders of the Bank as per the SEBI (LODR) Regulations, 2015 and applicable provisions of the Companies Act, 2013.
Director Profile Details
Dr. M Aruna Shyam is a qualified post graduate in Business Law and holds a doctorate in Law (Constitution & Criminal Law). He has been in active legal practice since 2004, appearing before Civil Courts, various Tribunals, Debt Recovery Tribunals, the National Company Law Tribunal, the High Court of Karnataka and the Supreme Court of India.
He has extensive experience across diverse branches of Law including Civil, Criminal, Constitutional, Co-operative, Corporate, Banking, Labour, Insurance and Service Laws.
He served as the Additional Advocate General for the State of Karnataka from 2020 to 2023, representing the State in important constitutional, statutory and public law matters. He was designated as a Senior Advocate by the High Court of Karnataka on December 14, 2021.
Relationship Disclosure
Dr. M Aruna Shyam is not related to any of the Directors in the Bank.
Meeting Details
The Board Meeting commenced at 10:30 AM and concluded at 7:00 PM on July 18, 2026.