UTI AMC seeks shareholder nod for Narayan Ayyankav as independent director
- UTI AMC initiates postal ballot for appointing Narayan Subramaniam Ayyankav as independent director
- Remote e-voting runs from September 8 to October 7, 2026, for shareholders on record as of September 4
- Mr. Ayyankav brings over 30 years of experience from Kotak Mahindra Group in banking and securities
- Results will be declared on or before October 9, 2026, overseen by appointed scrutinizer
*this image is generated using AI for illustrative purposes only.
UTI Asset Management Company Limited has initiated a postal ballot to seek shareholder approval for the appointment of Mr. Narayan Subramaniam Ayyankav as a Non-Executive Independent Director. The Board appointed him as an Additional Director on July 31, 2026, pending member ratification under SEBI Listing Regulations.
The remote e-voting period commences on September 8, 2026, at 9:00 am and concludes on October 7, 2026, at 5:00 pm. Shareholders holding units as of the September 4, 2026 cut-off date are eligible to vote. KFin Technologies Limited serves as the registrar and share transfer agent facilitating the electronic voting process.
Appointment Details
Mr. Ayyankav will serve a term of three consecutive years, from July 31, 2026, to July 30, 2029. He is not liable to retire by rotation. The Nomination and Remuneration Committee recommended his appointment based on his extensive experience in financial services, banking, and capital markets.
| Particulars | Details |
|---|---|
| Name | Narayan Subramaniam Ayyankav |
| DIN | 00007404 |
| Role | Non-Executive Independent Director |
| Term Start | July 31, 2026 |
| Term End | July 30, 2029 |
| Voting Cut-off | September 4, 2026 |
Professional Background
Mr. Ayyankav brings over three decades of experience from the Kotak Mahindra Group. His career includes roles such as Managing Director and CEO of Kotak Securities, Group President – Commercial Banking at Kotak Mahindra Bank, and Group President – Treasury. He also served as an Advisor to Kotak Mahindra Bank until May 2024.
He holds a Chartered Accountant qualification and an Advanced Management Program certificate from Harvard Business School. Currently, he holds no directorship in other listed entities but is associated with Infina Finance Private Limited.
Voting Process and Timeline
The company dispatched the postal ballot notice electronically to registered members on September 7, 2026. Individual demat account holders can vote through NSDL or CDSL platforms using single login credentials. Physical shareholders must register their email addresses via Form ISR-1 to participate in the remote e-voting process facilitated by KFintech.
| Key Dates | Timeline |
|---|---|
| Cut-off Date | September 4, 2026 |
| E-voting Commencement | September 8, 2026, 9:00 am |
| E-voting Conclusion | October 7, 2026, 5:00 pm |
| Result Declaration | On or before October 9, 2026 |
Mr. Vishal N. Manseta, a Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the remote e-voting process. The resolution, if approved by the requisite majority, shall be deemed passed on October 7, 2026.
Historical Stock Returns for UTI AMC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.14% | -3.16% | -0.73% | -5.99% | -32.43% | -17.41% |
How might Mr. Ayyankav's extensive background in treasury and commercial banking influence UTI AMC's strategic approach to fixed-income products and capital market operations?
What specific governance reforms or risk management frameworks is the board expected to prioritize under his tenure as an Independent Director?
Could his prior leadership roles at Kotak Mahindra Group create any potential conflicts of interest or competitive dynamics with UTI AMC's current business partners?
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