Meeting Details
- Type of Meeting: Postal Ballot (Remote e-Voting only)
- Cut-off Date: Friday, October 30, 2026
- Voting Commencement: Wednesday, November 4, 2026 at 09:00 AM IST
- Voting Conclusion: Thursday, December 3, 2026 at 05:00 PM IST
- Results Declaration: On or before Saturday, December 5, 2026 at 05:00 PM IST
- Location: Results will be declared at the Registered Office in Thrissur
Proposed Resolutions and Implications
Item 1: Appointment of Mr. Anish Thurthi (DIN: 08713000)
- Resolution Type: Ordinary Resolution
- Position: Director (Non-Executive Non-Independent category)
- Background: Appointed as Additional Director effective September 25, 2026, nominated by FIH Mauritius Investments Ltd per Investment Agreement
- Qualifications: Chartered Accountant with 20+ years experience in investment management and M&A
- Expertise: Accountancy, Economics, Finance, Risk Management and Law
Item 2: Revision in Fixed Pay for Mr. Pralay Mondal (MD & CEO)
- Resolution Type: Ordinary Resolution
- Effective Date: April 1, 2026
- Current Fixed Pay: ₹2,79,40,000 per annum
- Revised Fixed Pay: ₹3,07,00,000 per annum
- RBI Approval: Received vide letter dated August 19, 2026
- Breakdown: Basic Salary (₹1,53,50,000), HRA (₹92,10,000), Conveyance Allowance (₹34,72,773), Provident Fund/NPS (₹15,35,000), Gratuity (₹7,37,981), and other allowances and perquisites
Item 3: Variable Pay for Mr. Pralay Mondal (FY 2026-27)
- Resolution Type: Ordinary Resolution
- Components: Cash and share-linked instruments (stock options)
- Range: 100% to 300% of fixed pay (₹3,07,00,000 to ₹9,21,00,000)
- Determination: Based on balanced scorecard framework with quantitative and qualitative metrics
- Conditions: Subject to RBI approval, malus/clawback arrangements for deferred portions
- Valuation: Black-Scholes model for stock options at market price on grant date
Item 4: Revision in Fixed Pay for Mr. B K Divakara (Executive Director)
- Resolution Type: Ordinary Resolution
- Effective Date: April 1, 2026
- Current Fixed Pay: ₹88,00,000 per annum
- Revised Fixed Pay: ₹97,00,000 per annum
- RBI Approval: Received vide letter dated August 19, 2026
- Breakdown: Basic Salary (₹48,50,000), HRA (₹29,10,000), Conveyance Allowance (₹9,06,783), Provident Fund/NPS (₹4,85,000), Gratuity (₹2,33,173), and other allowances and perquisites
Item 5: Variable Pay for Mr. B K Divakara (FY 2026-27)
- Resolution Type: Ordinary Resolution
- Components: Cash and share-linked instruments (stock options)
- Range: 100% to 125% of fixed pay (₹97,00,000 to ₹1,21,25,000)
- Determination: Based on balanced scorecard framework with quantitative and qualitative metrics
- Conditions: Subject to RBI approval, malus/clawback arrangements for deferred portions
- Valuation: Black-Scholes model for stock options at market price on grant date
Voting Process and Methods
- Voting Method: Remote e-Voting only (no physical polling)
- Service Provider: National Securities Depository Limited (NSDL)
- Scrutinizer: Mr. P.D. Vincent, Practicing Company Secretary, SVJS & Associates, Kochi
- Eligibility: Members registered as of October 30, 2026 cut-off date
- Process: Members can vote through NSDL website (www.evoting.nsdl.com) or through their demat accounts with NSDL/CDSL
Compliance with Laws and Regulations
The postal ballot process complies with:
- Section 110 of the Companies Act, 2013
- Companies (Management and Administration) Rules, 2014
- SEBI Listing Regulations (Regulation 44)
- MCA Circulars (including General Circular Nos. 14/2020, 17/2020, 20/2020, and 03/2025)
- RBI (Commercial Banks - Governance) Direction, 2025
- Banking Regulation Act, 1949 provisions
Additional Information
- The postal ballot notice is being sent only electronically to members with registered email addresses
- Physical copies are not being sent as per MCA circulars
- Documents are available for inspection at the Registered Office during working hours
- Results will be displayed on bank website (https://www.csb.bank.in/investor-relations), NSDL website, and communicated to BSE and NSE
- The resolution shall be deemed passed on December 3, 2026 (last date of voting)