YES Bank shareholders have approved with an overwhelming majority all the nine resolutions at the bank’s 20th Annual General Meeting (AGM) held virtually on Friday, August 23.
The shareholders approved the following:
Ordinary Business
1. Adopted:
a. the audited standalone financial statements of the bank for the financial year ended March 31, 2024, and the reports of the Board of Directors and the Auditors thereon; and
b. the audited consolidated financial statements of the bank for the financial year ended March 31, 2024 and the report of the Auditors thereon.
2. Appointed a director in place of Shweta Jalan, who retired by rotation and, being eligible, offered herself for re-appointment
3. Appointed CNK & Associates LLP, Chartered Accountants, as one of the Joint Statutory Auditors
Special Business:
4. Approved material related party transactions with State Bank of India and material modification(s) thereto (Ordinary Resolution)
5. Approved the revised remuneration of Prashant Kumar (DIN: 07562475), Managing Director & Chief Executive Officer (Ordinary Resolution)
6. Approved the revised remuneration of Rajan Pental (DIN : 08432870) as an Executive Director of the Bank (Ordinary Resolution)
7. Approved revision in ceiling of fixed remuneration to Non-Executive Directors (NEDs) of the Bank (Ordinary Resolution)
8. Authorised capital raising through an issuance of debt instruments (Special Resolution)
9. Approved the ‘YBL Restricted Stock Units Plan 2024’ (Special Resolution)
