Result of AGM

RESOLUTIONS PASSED BY SHAREHOLDERS AT AGM HELD ON 17th JUNE, 2011 - AXIS BANK

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, 2011, Profit and Loss Account for the year ended 31st March, 2011 and the reports of Directors and Auditors thereon.

2. The payment of dividend @ Rs. 14 per equity share i.e. 140% has been approved. The dividend warrants will be dated and payable from June 18, 2011.

3. Shri R. B. L. Vaish and Shri K. N. Prithviraj 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 2011-12.

5. Shri S. K. Chakrabarti, Shri S. K. Roongta, Shri Prasad R. Menon, Shri R.N. Bhattacharyya 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.

6. The appointment of Shri S. K. Chakrabarti as the Deputy Managing Director of the Bank with effect from 27th September, 2010 and the remuneration payable to him as a Deputy Managing Director were approved.

7. Shri J. R. Varma retired by rotation and was not reappointed as a Director as he had expressed his desire not to be re-appointed as a Director. Accordingly, he has ceased to be a Director of the Bank at the conclusion of this AGM.

8. Subject to approval of RBI, revision in terms and conditions of appointment of Smt. Shikha Sharma, Managing Director and CEO of the Bank w.e.f. 01/06/2011 was approved.

9. Subject to approval of RBI, revision in remuneration of Dr. Adarsh Kishore, Chariman of the Bank w.e.f. 01/04/2011 was approved.

10. Resolution pertaining to increase in the borrowing limit of the Bank to Rs. 1,00,000 Crores pursuant to section 293(1)(d) of the Companies Act, 1956 was approved.