General Announcement::Disclosure under Indian Listing Regulations

Issuer & Securities

Issuer/ Manager
YES BANK LIMITED, ACTING THROUGH ITS INTERNATIONAL FINANCIAL SERVICES CENTRE BANKING UNIT
Securities
YESBANK US$600M3.75%N230206 - XS1756056229 - 8HFB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
11-Jun-2019 19:39:14
Status
New
Announcement Sub Title
Disclosure under Indian Listing Regulations
Announcement Reference
SG190611OTHRACR0
Submitted By (Co./ Ind. Name)
Shivanand R. Shettigar
Designation
Group Company Secretary
Effective Date and Time of the event
11/06/2019 18:30:00
Description (Please provide a detailed description of the event in the box below)
We would like to inform that Lt. Gen. (Dr.) Mukesh Sabharwal (Retd.), Non-Executive Independent Director of the Bank has tendered his resignation on June 10, 2019. He was appointed as an Independent Director under Companies Act, 2013 and has spent over 7 years with the Bank since April 25, 2012. The Bank proposed his re-appointment as an Independent Director until April 24, 2020 (i.e. upto completion of eight years in the Bank as permitted under section 10A(2-A)(i) of the Banking Regulation Act, 1949).

Lt. Gen. (Dr.) Mukesh Sabharwal (Retd.) has mentioned that he wants to devote quality time on his academic pursuits and hence has tendered his resignation.

Since, e-voting has already started, the Bank is not in a position to withdraw the resolution proposed in AGM Notice for his re-appointment, in terms of Rule 20 of the Companies (Management and Administration) Rules, 2014. Hence, irrespective of the outcome of the Resolution proposed in the AGM Notice, Mr. Mukesh Sabharwal shall cease to be a director on the Board of the Bank.

Kindly take note of the above.

Attachments

Change in Director MS.pdf
Total size =373K