South Indian Bank approves chairman remuneration and new director
South Indian Bank announced the results of its postal ballot conducted via remote e-voting, confirming the approval of remuneration for Non-Executive Part-time Chairman Jose Joseph Kattoor and the appointment of Thomson Thomas as an Independent Director. The resolutions, passed on June 14, 2026, received 99.96% and 99.77% votes in favour respectively. The scrutinizer's report verified the process, and the results were submitted to the stock exchanges on June 15, 2026.
*this image is generated using AI for illustrative purposes only.
South Indian Bank shareholders have approved the remuneration for Non-Executive Part-time Chairman Jose Joseph Kattoor and appointed Thomson Thomas as an Independent Director through a postal ballot process. The resolutions were passed via remote e-voting on June 14, 2026, securing the requisite majority from the members.
The postal ballot notice, dated May 6, 2026, was dispatched to members whose names appeared on the register of members as of May 8, 2026. The remote e-voting process was conducted by the service provider Central Depository Services (India) Limited (CDSL), with MUFG Intime India Private Limited acting as the Registrar and Share Transfer Agent. The voting period remained open from May 16, 2026, at 9:00 A.M. to June 14, 2026, at 5:00 P.M.
Voting Results
The scrutinizer's report confirmed that both resolutions were passed. The first resolution, an Ordinary Resolution, sought approval for the remuneration payable to Jose Joseph Kattoor and the terms of his appointment. The second resolution, a Special Resolution, concerned the appointment of Thomson Thomas as an Independent Director.
The following table details the voting outcomes for the resolutions:
| Resolution | Type | Votes In Favour | Votes Against | % In Favour | % Against |
|---|---|---|---|---|---|
| Approve Chairman Remuneration | Ordinary | 888,018,429 | 359,023 | 99.96% | 0.04% |
| Appoint Independent Director | Special | 886,314,020 | 2,064,784 | 99.77% | 0.23% |
Disclosures and Compliance
The results were declared on June 15, 2026, and submitted to the National Stock Exchange of India Ltd. and BSE Ltd. pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scrutinizer, CS Vincent P.D. of SVJS & Associates, verified the process and reported that the electronic data and relevant records are under safe custody before being handed over to the Company Secretary for preservation.
A total of 1,210,829 shareholders were eligible to vote on the record date. The promoters and promoter group held no shares and did not participate in the voting. The detailed voting results and the scrutinizer's report have been hosted on the bank's website.
Historical Stock Returns for South Indian Bank
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.65% | +5.92% | +24.77% | +23.66% | +62.64% | +385.96% |
How will the appointment of Thomson Thomas as Independent Director influence South Indian Bank's strategic direction and governance standards?
What impact will the approved remuneration package for the Non-Executive Chairman have on shareholder sentiment and future executive compensation policies?
With no promoter participation in the voting, how might this affect the bank's decision-making and shareholder engagement strategies?
19
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
