Jammu & Kashmir Bank Limited has successfully concluded its postal ballot process and submitted the detailed proceedings to stock exchanges under Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The postal ballot was conducted with a record date of February 13, 2026, and involved 242,452 total shareholders.

Regulatory Submission and Compliance

The bank submitted the postal ballot proceedings to National Stock Exchange of India Limited and BSE Limited on March 23, 2026, through a formal communication from Company Secretary Mohammad Shafi Mir. The submission was made pursuant to Regulation 44 requirements for appropriate dissemination of material information.

Board Decision and Process Framework

The Board of Directors decided on February 17, 2026, to obtain shareholder consent through postal ballot for three special resolutions. The process was conducted under Section 108 and 110 of the Companies Act, 2013, along with applicable MCA circulars and SEBI regulations. The bank utilized National Securities Depository Limited services for facilitating electronic voting.

Resolution Results and Voting Details

All three special resolutions were passed with overwhelming shareholder support across different categories.

Resolution 1: Re-appointment of Independent Director

The re-appointment of Ms. Shahla Ayoub (DIN: 09834993) as Independent Director for a three-year term from December 26, 2025, to December 25, 2028, received strong approval:

Resolution 2: Appointment of New Independent Director

The appointment of Mr. Prafulla Premsukh Chhajed (DIN: 03544734) as Independent Director for a three-year term from February 18, 2026, to February 17, 2029, achieved the highest approval rate:

Resolution 3: Tier I Capital Raising

The resolution for raising Tier I Capital up to Rs. 750 crores by the Bank was approved with substantial majority:

Scrutinizer Oversight and Validation

Mr. Arshad Hussain Mir, Partner at M/s Amir Jan & Associates, Chartered Accountants, served as the appointed Scrutinizer for the postal ballot process. The scrutinizer submitted the final report on March 23, 2026, confirming that all three special resolutions were passed by the requisite majority as per the Companies Act, 2013, and related regulations.

Capital Raising Authorization Details

The approved Tier I Capital raising resolution authorizes the Board to issue equity shares and other permitted securities for an aggregate amount not exceeding Rs. 750 crores through various modes including Private Placement, Qualified Institutional Placement (QIP), or other RBI-approved methods. The resolution includes comprehensive provisions for pricing, allotment procedures, and regulatory compliance requirements under SEBI ICDR Regulations and other applicable laws.

Jammu & Kashmir Bank has announced significant changes in its senior management structure with the elevation of two experienced executives to Chief General Manager positions. The bank informed stock exchanges on March 7, 2026, about the promotions under Regulation 30 of SEBI listing requirements.

Senior Management Promotions

The bank has elevated Mr. Ashutosh Sareen and Mr. Rajesh Malla Tickoo from their positions as General Managers to Chief General Managers, effective March 6, 2026. Both executives have demonstrated exceptional leadership and operational expertise throughout their tenure with the bank.

Executive Profiles and Experience

Mr. Ashutosh Sareen has been associated with the bank since 1989 and has been handling critical assignments at operational and administration levels over the last more than 36 years. He is a Commerce graduate with a degree in law, bringing diverse academic qualifications to his banking expertise.

Mr. Rajesh Malla Tickoo joined the bank in 1989 as a Probationary Officer and has since handled several critical assignments across both operational and administrative domains. Over the past 36 years, he has demonstrated extensive experience and leadership in banking functions. He holds a Bachelor's degree in Science.

Regulatory Compliance

The promotions were announced in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank provided detailed information as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The elevations recognize the significant contributions of both executives to the bank's operations and their proven track record in managing critical banking functions across multiple decades of service.