Meeting Details

The 10th Annual General Meeting was held on Tuesday, August 04, 2026 at 02:30 P.M. (IST) through Video Conferencing/Other Audio Visual Means without physical presence of members, in compliance with MCA Circular No. 3/2025 dated September 22, 2025 and various SEBI circulars.

Proposed Resolutions and Implications

Five resolutions were proposed for shareholder approval:

Ordinary Business:

1. Item No. 1: To receive, consider and adopt the Audited Financial Statements for FY ended March 31, 2026 with reports of Board of Directors and Auditors

2. Item No. 2: To appoint Dr. Ram Jass Yadav (DIN: 08911900) who retires by rotation and offered himself for re-appointment

Special Business:

3. Item No. 3: To appoint Mr. Anjani Srivastava (DIN: 07594445) as Non-Executive Non-Independent Director

4. Item No. 4: To re-appoint Mr. Parveen Kumar Gupta (DIN: 02895343) as Independent Director

5. Item No. 5: To appoint Mr. Sarjukumar Pravin Simaria (DIN: 02436025) as Whole-time Director and payment of remuneration to him

Voting Process and Methods

The voting process utilized two methods:

  • Remote e-voting: Conducted through NSDL from August 01, 2026 (9:00 AM IST) to August 03, 2026 (5:00 PM IST)
  • E-voting at AGM: Conducted during the meeting on August 04, 2026 for members attending but who didn't participate in remote e-voting

National Securities Depository Limited (NSDL) served as the Service Provider for both voting methods. The cut-off date for determining shareholders entitled to vote was July 28, 2026.

Key Voting Outcomes

Overall Participation:

  • Total members who cast votes: 260
  • Through remote e-voting: 252 members
  • Through e-voting at AGM: 8 members
  • Total shares voted: 86,42,82,869
  • Remote e-voting shares: 85,37,44,631
  • E-voting at AGM shares: 1,05,38,238

Resolution-wise Results:

Item 1 - Financial Statements Adoption (Ordinary Resolution)

  • Votes in favor: 56,76,11,981 (99.988%)
  • Votes against: 70,729 (0.012%)
  • Abstained/Less voted: 29,66,00,159
  • RESULT: PASSED

Item 2 - Re-appointment of Dr. Ram Jass Yadav (Ordinary Resolution)

  • Votes in favor: 56,75,24,364 (99.972%)
  • Votes against: 1,58,346 (0.028%)
  • Abstained/Less voted: 29,66,00,159
  • RESULT: PASSED

Item 3 - Appointment of Mr. Anjani Srivastava (Ordinary Resolution)

  • Votes in favor: 56,75,20,470 (99.971%)
  • Votes against: 1,62,120 (0.029%)
  • Abstained/Less voted: 29,66,00,279
  • RESULT: PASSED

Item 4 - Re-appointment of Mr. Parveen Kumar Gupta (Special Resolution)

  • Votes in favor: 56,75,56,587 (99.978%)
  • Votes against: 1,26,083 (0.022%)
  • Abstained/Less voted: 29,66,00,199
  • RESULT: PASSED

Item 5 - Appointment of Mr. Sarjukumar Pravin Simaria (Special Resolution)

  • Votes in favor: 56,74,85,852 (99.965%)
  • Votes against: 2,00,951 (0.035%)
  • Abstained/Less voted: 29,65,96,066
  • RESULT: PASSED

Shareholder Category Breakdown

Promoter and Promoter Group:

  • Shares held: 75,92,72,222
  • Votes polled: 46,26,76,158 (60.9368% of shares held)
  • Voting rights restricted to 26% of total voting rights per Banking Regulation Act, 1949 and RBI Guidelines
  • 29,65,96,064 votes not considered due to banking regulations
  • 100% voted in favor on all resolutions

Public Institutions:

  • Shares held: 41,48,88,806
  • Votes polled: 10,38,36,131 (25.0275% of shares held)
  • 100% voted in favor on all resolutions

Public Non-Institutions:

  • Shares held: 60,53,62,656
  • Votes polled: 11,70,421 (0.1933% of shares held)
  • Varied voting patterns across resolutions with minor opposition

Scrutinizer's Role and Findings

Mr. Avinash Bagul, Partner of M/s. BNP and Associates, Company Secretaries (Firm Regn. No.: P2014MH037400), was appointed as Scrutinizer by the Board of Directors at their meeting held on June 20, 2026. His responsibilities included:

  • Scrutinizing remote e-voting and e-voting processes in fair and transparent manner
  • Unblocking votes cast through remote e-voting on August 04, 2026 in presence of witnesses Mr. Kapil Rawat and Mr. Shreyash Bhogal
  • Preparing consolidated scrutinizer's report of votes cast for and against resolutions
  • Maintaining soft copies of registers received from NSDL and relevant voting records

Compliance with Laws and Regulations

The AGM and voting process complied with:

  • Section 108 of Companies Act, 2013
  • Rule 20 of Companies (Management and Administration) Rules, 2014
  • Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA Circular No. 3/2025 dated September 22, 2025
  • Various SEBI circulars regarding virtual meetings
  • Banking Regulation Act, 1949 provisions restricting promoter voting rights to 26%
  • RBI Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023

Additional Information

  • Cut-off date for Notice entitlement: July 03, 2026 (2,85,519 members)
  • Notice sent by email to 2,80,230 members (98.15% of total members)
  • Newspaper advertisements published in Financial Express (English) and Jansatta/Aaj (Hindi) on July 08, 2026 and July 11, 2026
  • Disclosure available on Bank's website: www.utkarsh.bank.in
  • No shareholders attended the meeting in person or through proxy
  • No shareholders attended through Video Conferencing