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Exchange Disseminated Time 11/03/2016 15:45:25 | With reference to the earlier letter dated March 08, 2016, AXIS Bank Ltd has now informed BSE that the Board of Directors of the Bank on March 10, 2016, approved the re-appointment of Dr. Sanjiv Misra as the Non-Executive Chairman of the Bank for a period of three months, with effect from March 08, 2016, on the existing terms and conditions, subject to the approval of the Reserve Bank of India and the Shareholders of the Bank, in terms of the relevant provisions of the Banking Regulation Act, 1949, the Guidelines issued by the RBI in this regard, the Companies Act, 2013, the Rules made thereunder, the Listing Regulations and Article 89 (1) of the Articles of Association of the Bank. During the said term, Dr. Sanjiv Misra shall not be liable to retire by rotation.
Further, apart from Dr. Sanjiv Misra, no other director or Key Managerial Personnel or their relatives are financially or otherwise concerned or interested in the said re-appointment. |
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