CSB Bank director Sumit Maheshwari steps down after eight-year tenure
- Sumit Maheshwari ceases as Non-Executive Non-Independent Director on September 2, 2026
- Departure marks completion of maximum eight-year tenure under Banking Regulation Act
- Board expressed gratitude for his contributions during his term
- Disclosure filed under Regulation 30 of SEBI Listing Regulations
*this image is generated using AI for illustrative purposes only.
CSB Bank announced that Sumit Maheshwari ceases to be a Non-Executive Non-Independent Director effective September 2, 2026. The departure follows the completion of his maximum permissible tenure.
The Board of Directors expressed appreciation for Maheshwari’s contributions during his time with the bank. The cessation is compliant with the Banking Regulation Act, 1949, which limits director tenure to eight years.
Regulatory Disclosure
The bank filed the intimation pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure aligns with SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
| Detail | Information |
|---|---|
| Reason for change | Completion of tenure as Director in terms of the Banking Regulation Act, 1949 |
| Date of cessation | Close of office hours on September 2, 2026 |
| Director DIN | 06920646 |
Sijo Varghese, Company Secretary, confirmed the filing. The disclosure is available on the bank’s website.
Historical Stock Returns for CSB Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.15% | -2.27% | +0.53% | -16.55% | -11.23% | +9.84% |
Has CSB Bank initiated the search for a replacement for Sumit Maheshwari, and what are the key qualifications being prioritized for the new Non-Executive Director?
How might this leadership transition impact CSB Bank's strategic roadmap for digital transformation and retail banking expansion in the coming fiscal year?
Are there any pending board-level decisions or major policy approvals that could be affected by the change in directorship effective September 2026?
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