PNB Gilts Limited has submitted copies of newspaper advertisements to the National Stock Exchange of India Limited (NSE) and BSE Limited, confirming the dispatch of its postal ballot notice for the appointment of two Non-Executive Directors. The submission was made under Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Newspaper Advertisement Submission

On March 26, 2026, the company filed copies of newspaper advertisements published in Financial Express (English) and Jansatta (Hindi) newspapers. The advertisements confirmed the dispatch of the postal ballot notice, remote e-voting information, and procedures for email address registration.

Postal Ballot Process Details

The postal ballot notice seeks shareholder approval for appointing two Non-Executive & Non-Independent Directors nominated by Punjab National Bank. The voting is conducted exclusively through remote e-voting facility, with no physical postal ballot forms being sent to members in accordance with MCA circulars.

Proposed Director Appointments

Sh. Bibhu Prasad Mahapatra (DIN: 08756848)

Sh. Bibhu Prasad Mahapatra, currently serving as Executive Director of PNB since October 9, 2023, has been nominated for appointment as Non-Executive & Non-Independent Director. He brings over 36 years of banking experience and holds qualifications including CAIIB certification and a diploma in Strategic Development Programme from IIM Bangalore.

Smt. Anju Mittal (DIN: 11410994)

Smt. Anju Mittal, currently serving as General Manager – Compliance Division of PNB, has been nominated for the second directorship. She holds qualifications including MBA, M.A., M.Com, FRM, and CAIIB, with 32 years of experience in core banking, risk management, and compliance.

Regulatory Compliance and Results Timeline

Both appointments have received necessary regulatory approvals from the Reserve Bank of India and comply with Section 152 of the Companies Act, 2013, and SEBI LODR Regulations. The Nomination & Remuneration Committee has recommended both appointments considering the candidates' extensive experience and fit-and-proper status.

The scrutinizer will submit the voting results report within two working days from the end of the remote e-voting period. Results will be announced immediately thereafter and communicated to stock exchanges where the company's securities are listed. The publications are also available on the company's website at www.pnbgilts.com .

PNB Gilts Limited has successfully obtained regulatory approval from the Reserve Bank of India for a key board appointment, marking an important milestone in the company's governance structure. The approval relates to the appointment of Smt. Anju Mittal as Additional Director in a non-executive and non-independent capacity.

Board Appointment Details

The appointment process began with the company's Board of Directors approving Smt. Anju Mittal's appointment on November 24, 2025, based on recommendations from the Nomination and Remuneration Committee. The board resolution was passed by circulation on the same date, subject to obtaining necessary regulatory approvals.

Regulatory Approval Timeline

The appointment required approvals from two key regulatory bodies. The Ministry of Corporate Affairs allocated the Director Identification Number to Smt. Anju Mittal on December 5, 2025. Subsequently, the Reserve Bank of India conveyed its approval through a letter dated March 13, 2026, which was received by the company on March 16, 2026.

Professional Background

Smt. Anju Mittal brings significant experience from her current role as General Manager in the Compliance Division at Punjab National Bank. Her appointment as Additional Director is expected to strengthen the company's board composition with her expertise in compliance and banking operations.

Regulatory Compliance

The company has fulfilled all regulatory requirements under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The appointment became effective from March 16, 2026, being the date of receipt of RBI approval, as this was later than the MCA approval date.