Yes Bank shareholders have approved the re-appointment of Rana Kapoor as the bank’s chief executive officer and managing director for a period of three years.
“The shareholders supported the resolutions for re-appointment of Rana Kapoor as MD & CEO of the bank for a further period of 3 years, effective September 1, 2018, with an overwhelming majority. The re-appointment is subject to final approval by the RBI,” the bank said after the annual general meeting (AGM) on Tuesday.
The AGM also approved the appointment of Subhash Chander Kalia and Ajai Kumar as non-executive non-independent directors. Shareholders also cleared the appointment of Rentala Chandrashekhar and Pratima Sheorey as independent directors for five years. Additionally, the shareholders also approved a special resolution to raise capital aggregating up to $1 billion by way of issue of shares.
Yes Bank’s shareholders also approved, through a special resolution, the proposal to raise funds up to a total amount of Rs 30,000 crore in foreign or Indian currencies by issuing debt securities including non-convertible debentures, medium term notes and bonds. They also approved to raise the total borrowing limit of the bank to Rs 1,10,000 crore. Among other resolutions, the shareholders also approved a dividend payout at a rate of Rs 2.7 per equity share of Rs 2 each.
The AGM was attended by all the nine board of directors, including Ashok Chawla, Rana Kapoor and others.