DCB Bank has completed the dispatch of postal ballot notices seeking shareholder approval for the remuneration of its Non-Executive Part-Time Chairman, Mr. Pushan Mahapatra. The resolution proposes a fixed remuneration of ₹24 lakh per annum, effective from June 12, 2026, until March 09, 2029. This approval is necessary as the proposed remuneration exceeds 50% of the total annual remuneration payable to all non-executive directors for FY 2026-27.

Mr. Pushan Mahapatra was appointed as Non-Executive Part-Time Chairman following approval from the Reserve Bank of India via its letter dated June 12, 2026. He was previously appointed as a Non-Executive (Independent) Director for a three-year term starting March 10, 2026. The Bank has engaged Central Depository Services (India) Limited (CDSL) to facilitate the remote e-voting process.

Voting Schedule and Process

The remote e-voting period commenced at 9:00 a.m. IST on Wednesday, July 08, 2026, and will conclude at 5:00 p.m. IST on Thursday, August 06, 2026. Shareholders whose names appear in the Register of Members or Register of Beneficial Owners as of the cut-off date, Saturday, July 04, 2026, are eligible to vote. The results of the postal ballot will be declared on or before Monday, August 10, 2026.

Scrutinizer Appointment

The Board of Directors has appointed Ms. Manisha Maheshwari, Partner of M/s. Maheshwari & Associates, Company Secretaries, as the Scrutinizer to ensure the voting process is conducted fairly. In her absence, Mr. Saurabh Somani, also a Partner at M/s. Maheshwari & Associates, will serve as Scrutinizer.

Key Resolution Details

The explanatory statement notes that apart from the Chairman, the Managing Director & CEO, and the Whole Time Director, no other directors currently receive remuneration. The payment to Mr. Mahapatra necessitates a special resolution due to the regulatory cap on remuneration for non-executive directors.

DCB Bank shareholders approved a dividend of ₹1.45 per equity share for the financial year ended March 31, 2026, at the 31st Annual General Meeting held on July 03, 2026. The meeting, conducted via video conferencing, saw the adoption of audited financial statements and the approval of key capital-raising measures, including a Qualified Institutions Placement (QIP) and the issuance of bonds on a private placement basis.

All eight resolutions listed in the notice dated June 05, 2026, were passed with the requisite majority. The approval for the QIP, a special resolution, received 84.93% of the valid votes cast, while the resolution to raise funds through bonds secured 100% approval. The re-appointment of Mr. Nadir Bhalwani as Director and Mr. Krishnan Sridhar Seshadri as Whole-time Director for one year effective June 13, 2026, was also approved.

Voting Results

The combined voting results from remote e-voting and e-voting conducted during the AGM were scrutinized by M/s Bhandari & Associates, Company Secretaries. A total of 395 members participated in the voting process regarding the adoption of financial statements, casting 17,01,04,685 votes.

Meeting Proceedings

The AGM was chaired by Mr. Pushan Mahapatra, Non-Executive Part-Time Chairman and Independent Director. Mr. Praveen Kutty, Managing Director & CEO, and Mr. Ravi Kumar, Chief Financial Officer, presented the bank's financial performance for FY 2025-26. The Chairman confirmed that the Statutory Auditors' Report and Secretarial Audit Report contained no qualifications or adverse observations.

The statutory registers and relevant certificates were made available for inspection. The meeting commenced at 02:30 p.m. IST and concluded at 04:51 p.m. IST. The Scrutinizer’s Report confirmed that the electronic voting data was handled in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.