Kotak Bank has successfully completed its postal ballot process, with shareholders approving two critical resolutions through remote e-voting that concluded on March 4, 2026. The bank conducted the voting process in compliance with regulatory requirements, seeking member approval on key corporate governance and capital raising initiatives.

Postal Ballot Results Overview

The scrutinizer's report, submitted by Mr. Alwyn D'Souza (FCS 5559), confirmed that both resolutions contained in the postal ballot notice dated February 2, 2026, were approved with requisite majority. The voting process was conducted through National Securities Depository Limited (NSDL) e-voting platform, with the cut-off date set as January 30, 2026, for determining eligible voting members.

Resolution 1: Executive Appointment

Shareholders overwhelmingly approved the appointment of Mr. Anup Kumar Saha as Director and Whole-Time Director, designated as 'Whole-Time Director (Executive Director)' of the bank, along with payment of remuneration. This ordinary resolution received strong support across all shareholder categories.

Resolution 2: Debt Securities Issuance

The special resolution authorizing issuance of unsecured, redeemable, non-convertible debentures, bonds, and other debt securities on private placement basis during FY 2026-27 received near-unanimous approval from shareholders.

Voting Process and Compliance

The postal ballot process commenced on February 3, 2026, at 9:00 AM IST and concluded on March 4, 2026, at 5:00 PM IST. The bank dispatched postal ballot notices electronically to members whose email addresses were registered with the bank, its Registrar & Share Transfer Agents, or depositories. Advertisement notifications were published in Financial Express (English) and Navshakti (Marathi) newspapers on February 3, 2026.

The voting process was conducted in accordance with Section 110 of the Companies Act, 2013, Rule 20 and Rule 22 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The scrutinizer confirmed that all regulatory requirements were met during the postal ballot process.

Shareholder Participation Analysis

Out of 765,721 total shareholders on record date, significant participation was observed across different categories. The detailed breakdown shows strong engagement from institutional and retail investors.

Both resolutions are deemed to have been passed on March 4, 2026, the last day of remote e-voting, with the scrutinizer's report and e-voting results made available on the bank's website and NSDL's e-voting portal for stakeholder access. The bank's compliance with all regulatory frameworks demonstrates its commitment to transparent corporate governance practices.

Kotak Bank has announced major leadership changes in its technology division, with Chief Technology Officer Bhavnish Lathia resigning from his position effective February 9, 2026. The bank disclosed these developments through a regulatory filing pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Lathia submitted his resignation due to personal reasons, specifically citing his need to return to the United States. In his resignation email, Lathia expressed confidence in the technology platform's current state, noting that "our technology platform is in the best shape it has ever been" and that "the technology leadership team is stable, mature, and ready for broader responsibilities."

Leadership Transition Details

The bank's Board of Directors convened on February 9, 2026, at 6:38 p.m. IST to address the leadership transition. Two key appointments were approved, both taking effect from February 10, 2026:

New CTO Profile and Experience

Nilesh Chaudhari brings extensive technology leadership experience spanning 29 years across global and Indian financial institutions. His career includes senior positions at prominent organizations such as JPMorgan, Barclays, Citigroup, and IDFC First Bank before joining Kotak Mahindra Bank.

Chaudhari's previous roles demonstrate his broad expertise in financial technology:

• CIO – Global Payments at Barclays
• Head of Retail Banking Technology at JPMorgan
• Head of Asia Banking Technology at JPMorgan
• CTO for Corporate and Wholesale Banking at IDFC First Bank

His technical expertise encompasses payments, core banking, treasury, cash management, digital solutions, data management, and lending across more than 20 countries. An engineering graduate from the University of Poona, Chaudhari is recognized for building high-performance engineering organizations and leading complex modernization programs.

Innovation and AI Leadership

Aravamudham (Vijay) Narayanan assumes the newly created role of Head – Innovation and AI, bringing 24 years of technology leadership experience. His background includes positions at leading global organizations including Goldman Sachs, Amazon, Medscape WebMD, and Merrill Lynch.

Narayanan holds both Bachelor of Science and Master of Science degrees in Information Systems from Drexel University. His expertise covers:

• High-performance software engineering
• Application resilience and cloud services
• CICD and API platforms
• Infrastructure-as-code implementation
• Developer productivity enhancement

At Kotak Mahindra Bank, Narayanan has been instrumental in driving technology initiatives focused on physical distribution channels and software platform development, including the deployment of the Transaction Authorization System (TAS) across the bank's branch network.

Strategic Technology Focus

The appointments reflect Kotak Mahindra Bank's continued emphasis on technology transformation and innovation. Chaudhari currently plays a key role in advancing strategic technology initiatives across multiple business segments including Wholesale Bank, Commercial Bank, Treasury, Gift City operations, and Assurance and Enabling Functions.

The creation of a dedicated Head of Innovation and AI position underscores the bank's commitment to artificial intelligence adoption and technological innovation as core business drivers. Narayanan's appointment specifically highlights the bank's focus on AI strategy implementation and advanced technology deployment.

These leadership changes ensure continuity in the bank's technology operations while positioning the organization for future growth and innovation in the rapidly evolving financial services landscape.