Karnataka Bank Limited has announced the record date for annual interest payment on its Tier II Bonds Series VII, as communicated to stock exchanges on March 7, 2026. The announcement follows regulatory requirements under SEBI listing obligations for corporate bond interest payments.

Bond Interest Payment Details

The bank has set March 13, 2026 as the record date for determining eligible bondholders for the annual interest payment. The interest payment itself is scheduled for March 30, 2026, marking the fourth anniversary of the bond issuance.

Regulatory Compliance

The intimation was made pursuant to Regulation 60 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank communicated the details to both National Stock Exchange of India Limited and BSE Limited through its secretarial department.

Bond Specifications

The Tier II Bonds Series VII carry a coupon rate of 10.70% per annum on the principal amount of ₹300.00 crores. These bonds were originally issued on March 30, 2022, and the upcoming interest payment of ₹32.10 crores represents the annual return to bondholders. The bonds are identified by ISIN INE614B08054 for trading and settlement purposes.

Bondholders whose names appear in the records as of the close of business on March 13, 2026 will be eligible to receive the interest payment scheduled for March 30, 2026.

Karnataka Bank Limited has announced the results of its postal ballot conducted through remote e-voting for seeking approval on the re-appointment of two Independent Directors. The e-voting process, which concluded on March 06, 2026, yielded mixed outcomes for the bank's board composition.

E-Voting Process Details

The remote e-voting facility was made available to all members holding shares as on the cut-off date of January 30, 2026. The voting period commenced on February 05, 2026, at 09:00 AM IST and concluded on March 06, 2026, at 05:00 PM IST. CS Ullas Kumar Melinamogaru, Practicing Company Secretary, was appointed as the scrutinizer for the remote e-voting process.

Voting Results Summary

The postal ballot contained two special resolutions for the re-appointment of Independent Directors, with contrasting outcomes:

Resolution 1: Dr. D.S. Ravindran Re-appointment

The special resolution for re-appointing Dr. D.S. Ravindran as Non-Executive Independent Director failed to secure the required majority. A total of 3,678 members voted in favor through e-voting, casting 8,99,59,707 votes representing 59.45% of the total valid votes cast. However, 230 members voted against the resolution with 6,13,57,965 votes, representing 40.55% of the total votes.

Resolution 2: Mr. Balakrishna Alse S Re-appointment

The re-appointment of Mr. Balakrishna Alse S as Non-Executive Independent Director was successfully approved with requisite majority. The resolution received support from 3,735 members who cast 11,60,61,053 votes in favor, representing 76.78% of total valid votes. Only 182 members voted against with 3,51,01,564 votes, accounting for 23.22% of the total votes cast.

Regulatory Compliance

The postal ballot process was conducted in accordance with Sections 108 and 110 of the Companies Act, 2013, Rules 20 and 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The process also complied with various MCA circulars issued between 2020-2025.

Technical Implementation

National Securities Depository Limited (NSDL) served as the service provider for the remote electronic voting facility, while Integrated Registry Management Services Private Limited acted as the Registrar and Share Transfer Agent. The bank has made the complete scrutinizer's report and e-voting results available on its website for stakeholder reference.