Result of AGM

RESOLUTIONS PASSED BY SHAREHOLDERS AT AGM HELD ON 19TH JULY, 2013

At the Annual General Meeting held today at Ahmedabad the following resolutions were passed by the shareholders of the Bank :

1. Adoption of the Balance Sheet as at 31st March, 2013, Profit and Loss Account and Cash Flow Statement for the year ended 31st March, 2013 and the reports of Directors and Auditors thereon.

2. The payment of dividend @ Rs. 18 per equity share i.e. 180% has been approved. The dividend warrants will be dated and payable from 20th July, 2013.

3. Shri S. B. Mathur, Shri Prasad R. Menon and Shri R. N. Bhattacharyya retired by rotation and were reappointed as Directors.

4. M/s Deloitte Haskins & Sells, Chartered Accountants, Ahmedabad, ICAI Registration Number 117365W were appointed as the Statutory Auditors of the Bank for the year 2013-14.

5. Smt. Ireen Vittal and Shri Rohit Bhagat, who were appointed as additional Directors by the Board of Directors of the Bank were appointed as Directors of the Bank, liable to retire by rotation. Further, Dr. Sanjiv Misra, who was appointed as additional Director and Non-Executive Chairman by the Board of Directors of the Bank was appointed as Director and Non-Executive Chairman of the Bank, not liable to retire by rotation.

6. Revision in remuneration payable to Smt. Shikha Sharma as Managing Director and CEO of the Bank w.e.f. 1st June, 2013, subject to approval of RBI.

7. Revision in remuneration payable to Shri Somnath Sengupta and Shri V. Srinivasan as Executive Directors of the Bank w.e.f. 1st April, 2013 or such other date as may be approved RBI.

8. Special resolution pertaining to Issue, offer and allotment of equity stock options convertible into Equity Shares to any permanent employee/Whole-time Directors of the Bank and subsidiaries of the Bank.