Bank of Maharashtra has completed its annual interest payment obligation on BASEL III Compliant Tier I Bonds, disbursing ₹25.38 crore to bondholders on March 24, 2026. The payment was made in accordance with Regulation 57(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Bond Payment Details

The interest payment pertains to bonds with ISIN INE457A08100, which have a total issue size of ₹290.00 crore. The bank maintained its annual payment frequency as scheduled, with no changes to the payment structure.

Payment Timeline and Compliance

The bank demonstrated punctual debt servicing by making the payment exactly on the due date of March 24, 2026. The interest payment record date was established as March 9, 2026, providing bondholders with adequate notice. This payment follows the bank's previous annual interest disbursement made on March 24, 2025.

Regulatory Framework

The BASEL III Compliant Tier I Bonds represent part of the bank's capital adequacy framework, designed to strengthen its financial position in line with international banking standards. The timely interest payment reflects the bank's commitment to maintaining investor confidence and regulatory compliance.

Bank of Maharashtra has informed both BSE Limited and National Stock Exchange of India Limited about the successful completion of this interest payment. The communication was also shared with Catalyst Trusteeship Limited, serving as the Debenture Trustee for these bonds, ensuring all stakeholders remain informed of the bank's debt servicing activities.

Bank of Maharashtra has officially confirmed the appointment of Mr. Prasenjeet Shrikrishna Fadnavis as Shareholder Director, effective March 24, 2026, following his successful election during the Extraordinary General Meeting held on March 23, 2026. The bank notified stock exchanges about the appointment under Regulation 30 of SEBI (LODR) Regulations, 2015.

EGM Results and Director Elections

The Extraordinary General Meeting, conducted through video conferencing with 55 members including one authorized Government of India representative, addressed critical board appointments. Shareholders approved two key agenda items related to board composition under regulatory requirements.

In the shareholder director election, Mr. Fadnavis emerged victorious among four qualified candidates, securing the majority of votes cast.

Director Profile and Qualifications

Mr. Prasenjeet Shrikrishna Fadnavis, aged 52 years, brings extensive experience across multiple sectors to his new role. His educational qualifications include a Bachelor's degree in Computer Science, L.L.B., and a Diploma in Cyber Law.

The new director is a technocrat with over three decades of experience spanning telecom, banking, cyber laws, education, and rural development. He has been associated with leading educational institutions including Savitribai Phule Pune University and Yashwantrao Chavan Maharashtra Open University, while also being involved in social services.

Executive Director Appointment

Simultaneously, shareholders overwhelmingly approved the appointment of Shri Prabhat Kiran as Executive Director. The Department of Financial Services, Ministry of Finance, had initially appointed him on November 24, 2025, under Section 9(3)(a) of the Banking Companies Act for a three-year term.

Regulatory Compliance and Meeting Framework

The EGM was chaired by Mr. Nidhu Saxena, MD & CEO, following established regulations. Remote e-voting was conducted from March 18-22, 2026, with Central Depository Services (India) Limited providing the e-voting platform.

The meeting adhered to all regulatory requirements under SEBI (LODR) Regulations, 2015, and Companies (Management and Administration) Rules, 2014. The comprehensive scrutinizer's report confirmed all votes as valid, with compliance to Banking Companies Act provisions ensuring no shareholder held more than 10% voting rights.