Jammu and Kashmir Bank has appointed Mr. Ashish Kundra and Mr. Pravin Raghavendra to its Board following the successful conclusion of a postal ballot conducted through remote e-voting. The resolutions secured the requisite majority, with over 98% of valid votes cast in favour of the appointments. The record date for determining shareholder eligibility was June 5, 2026.

Postal Ballot Results

The postal ballot sought shareholder approval for two key resolutions. Mr. Ashish Kundra, IAS (DIN: 06966214), was appointed as a Rotational Director via an Ordinary Resolution. Mr. Pravin Raghavendra (DIN: 09686944) was appointed as an Independent Director via a Special Resolution. The voting process was managed by M/s BigShare Services Private Limited.

Voting Summary

The total number of valid votes polled for the Ordinary Resolution was 781,351,592, representing 70.96% of the total outstanding shares. For the Special Resolution, the total valid votes polled were 781,351,567, also representing 70.96% of the outstanding shares. The scrutinizer's report confirmed that both resolutions were passed by the members.

Scrutinizer's Report

Arshad Hussain Mir, a Practising Chartered Accountant and Partner of M/s Amir Jan & Associates, was appointed as the Scrutinizer to ensure the voting process was conducted fairly. The report confirms that the e-voting facility was provided in compliance with Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, and other applicable laws. The remote e-voting concluded at 5:00 P.M. on July 11, 2026.

Jammu & Kashmir Bank has appointed Mr. Rakesh Magotra as the Chief Compliance Officer (CCO) and Group Compliance Officer (GCO) for a period of three years effective July 04, 2026. The appointment sees Mr. Magotra succeed Mr. Peer Masood Ahmad, strengthening the bank's compliance framework and governance standards. The Board of Directors approved the decision during a meeting held on July 04, 2026, pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Magotra brings over 30 years of experience in retail banking, credit, strategy, operations, governance, and business transformation. Prior to this role, he served as General Manager and Head of the Retail Banking Division, where he led Retail Assets, Agriculture, MSME, Government Sponsored Schemes, and Liability Management. An alumnus of the National Institute of Technology (NIT), Jaipur and the Indian Institute of Management (IIM), Amritsar, where he was awarded the Director's Medal, he is currently pursuing a Ph.D. in Economics at IIM Jammu.

Since joining Jammu & Kashmir Bank as a Probationary Officer in 1996, Mr. Magotra has held several key leadership positions, including Zonal Head, Delhi Zone, Advisor to the Chairman, Head of Financial Inclusion, and Head of Supervision & Control. He has led strategic initiatives in MSME financing, financial inclusion, startup financing, and institutional partnerships.

Key Appointment Details