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Further, he was appointed as Director (Independent) pursuant to resolution passed by the members of the Bank in the 3rd AGM held on July 12, 2019 for a term of five consecutive years commencing June 01, 2019 up to May 31, 2024.
In terms of Section 152 of the Companies Act, 2013, he was not liable to retire by rotation.
Rationale for his appointment:
The Board noted that Mr. Sachin Bansal is an acknowledged iconic leader in the e-commerce space (Co-founder of Flipkart) with phenomenal technological acumen and foresight. His guidance and direction will be very valuable in achieving Bank’s mission of creating a state-of-the-art mass market bank.
Ms. Vandana Viswanathan
Din: 05192578
Ms. Vandana Viswanathan was liable to retire by rotation and retired at 3rd AGM held on July 12, 2019 and, being eligible, had offered herself for reappointment.
The members of the Bank appointed her as Non- Executive, Non-Independent Director at 3rd AGM held on July 12, 2019.
Further, she was appointed/re-designated as Director (Independent) pursuant to a resolution passed by the members of the Bank in the extraordinary General Meeting held on August 03, 2019 for a term of five consecutive years commencing September 22, 2019 up to September 21, 2024.
She meets the criteria of independence as prescribed under Section 149(6) of Companies Act, 2013 read with Rule 5 of Companies (Appointment and Qualifications of Directors) Rules, 2014 and Regulation 16(1)(b) of SEBI Listing Regulations.
In terms of Section 152 of the Companies Act, 2013, she is not liable to retire by rotation.
Rationale for her appointment:
The Board noted that Ms. Vandana Viswanathan is a career professional in managing Human Resources (HR). As a HR professional, her expertise and guidance will be very valuable to the Bank.
Mr. Mahadev Lakshminarayanan
Din: 05003710
Mr. Mahadev lakshminarayanan was appointed as Director (Independent) pursuant to resolution passed by the members of the Bank in the extraordinary General Meeting held on August 03, 2019 for a term of five consecutive years commencing August 01, 2019 up to July 31, 2024.
He meets the criteria of independence as prescribed under Section 149(6) of Companies Act, 2013
read with Rule 5 of Companies (Appointment and Qualifications of Directors) Rules, 2014 and Regulation 16(1)(b) of SEBI Listing Regulations.
In terms of Section 152 of the Companies Act, 2013, he is not liable to retire by rotation.
Rationale for his appointment:
the Board noted that Mr. Mahadev lakshminarayanan is a career professional. As a Chartered Accountant he had held various positions in Deloitte. His financial expertise and guidance will be very valuable to the Bank.
mr. nitin chugh
Din: 01884659
The RBI had accorded its approval vide its letter dated May 14, 2019 for the appointment of Mr. nitin Chugh as a Managing Director and CEO of the Bank for a period of three years commencing December 01, 2019.
Further to the approval of RBI, the Board had, in its meeting held on May 28, 2019, appointed him, as the Managing Director and CEO of the Bank w.e.f December 01, 2019.
The members of the Bank have approved his appointment in the 3rd AGM held on July 12, 2019.
In terms of Section 152 of the Companies Act, 2013, he is not liable to retire by rotation.
Mr. Umang Bedi*
Din: 02432920
The Board had appointed Mr. Umang Bedi, in its meeting held on March 23, 2020, as an Additional Director (Independent) of the Bank w.e.f April 01, 2020 to hold office up to the date of ensuring 4th AGM.
He meets the criteria of independence as prescribed under Section 149(6) of Companies Act, 2013 read with Rule 5 of Companies (Appointment and Qualifications of Directors) Rules, 2014 and Regulation 16(1)(b) of SEBI Listing Regulations.
The Board recommends his appointment, as an Independent Director, to the members for their approval at the ensuing 4th AGM.
In terms of Section 152 of the Companies Act, 2013, he is not liable to retire by rotation.
Rationale for his appointment:
The Board noted that Mr. Umang Bedi is an iconic leader who has co-founded Dailyhunt; India’s largest local language content & news discovery platform across 14 Indian languages. He has phenomenal technological acumen and foresight. His guidance
150 | AnnuAl RepoRt 2019-20