Canara HSBC Life Insurance Company Limited has successfully concluded its postal ballot process, with shareholders approving all three resolutions through remote e-voting. The results were announced on March 23, 2026, following the completion of voting that took place from February 18, 2026, to March 19, 2026.

Postal Ballot Process and Timeline

The postal ballot was conducted in accordance with Section 108 and Section 110 of the Companies Act, 2013, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting rights were determined based on the cut-off date of February 13, 2026. KFin Technologies Limited served as the service provider for the remote e-voting facility, with the platform being blocked after 5:00 PM IST on March 19, 2026.

Resolution Results Overview

All three resolutions presented to shareholders received approval with requisite majority. The first resolution, requiring special resolution status, involved amending the Articles of Association to provide nomination rights to Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited. The remaining two ordinary resolutions pertained to approving material related party transactions for financial year 2025-26.

Resolution 1: Amendment of Articles of Association

The special resolution for amending Articles of Association achieved significant approval across all shareholder categories:

Resolution 2 & 3: Related Party Transactions

Both ordinary resolutions for approving material related party transactions with Canara Bank and HSBC respectively received identical voting patterns. In accordance with Regulation 23(4) of SEBI LODR, related parties abstained from voting on these resolutions.

Key Amendments to Articles of Association

Pursuant to Regulation 30 of SEBI LODR Regulations, 2015, the company has disclosed detailed amendments to its Articles of Association. The amendments establish clear nomination rights for both promoter entities and modify board composition requirements.

Board Composition and Nomination Rights

The amended Articles introduce specific nomination entitlements for the promoter entities:

The amendments also include provisions for dynamic adjustment of nomination rights based on relative shareholding between the two promoter entities. If INAH's shareholding exceeds that of Canara Bank, the nomination rights reverse, with INAH entitled to nominate three directors and assume chairman election rights.

Scrutinizer Report and Compliance

Shirin Bhatt, Practicing Company Secretary (Membership No. F8273), was appointed as Scrutinizer by the Board of Directors on February 9, 2026. The scrutinizer's report confirmed that all resolutions were passed with requisite majority, and the voting process was conducted in compliance with applicable regulations. The unblocking of votes was witnessed by two independent witnesses: Mr. Rithik Kesarwani and Mr. Tanmay Saxena.

Shareholder Participation Analysis

The postal ballot witnessed participation from 364 shareholders across different categories, with a total of 950,000,000 shares representing the company's share capital. The voting turnout varied significantly across resolutions, with the Articles of Association amendment receiving broader participation at 95.33% of outstanding shares, while the related party transaction resolutions saw 20.33% participation due to promoter abstention.

The company has made the detailed voting results and scrutinizer's report available on its website at www.canarahsbclife.com , ensuring transparency and accessibility for all stakeholders. The formal disclosure was submitted to both NSE and BSE under the company's listing obligations, with Company Secretary Vatsala Sameer signing the compliance documents.

Canara HSBC Life Insurance Company Limited has successfully completed the allotment of ₹250 crore worth of non-convertible debentures through private placement, as announced to the stock exchanges on 13th March 2026. The Debt Raising Committee of the Board approved the allotment during a meeting held from 12:00 noon to 12:10 pm on the same day.

Debenture Structure and Terms

The company allotted 25,000 unsecured, subordinated, listed, rated, redeemable, non-cumulative, fully paid-up, non-convertible debentures in the nature of subordinated debt. Each debenture carries a face value of ₹1,00,000, bringing the total issue size to ₹250,00,00,000.

Interest Payment Schedule

The debentures offer a coupon rate of 8.15% per annum with annual interest payments scheduled on 13th March each year. The interest payment dates span from 13th March 2027 through 13th March 2036, providing investors with regular annual income over the 10-year tenure.

Call Option and Redemption Features

The debentures include call option provisions that allow the company to redeem the securities at the end of five years from the allotment date and every year thereafter. The redemption will be at par value of ₹1,00,000 per debenture plus accrued coupon rate. This feature provides the company with flexibility in managing its debt structure based on market conditions.

Listing and Regulatory Compliance

The debentures will be listed on the National Stock Exchange of India Limited, providing liquidity options for investors. The allotment was conducted under the General Information Document and Key Information Document in compliance with SEBI regulations. As unsecured debentures, no charge or security has been created over the company's assets.

Default Protection Measures

In case of payment default extending beyond three months from the due date, the company has committed to pay interest at a rate 2% per annum above the standard interest rate. This provision continues until the default is cured to the satisfaction of the Debenture Trustee, providing additional protection for debenture holders.