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90th Annual General Meeting of Federal Bank was Conducted

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News Desk, News Nation 360 : Ninetieth Annual General Meeting of shareholders of Federal Bank was conducted over video conferencing. The meeting was presided over by Bank’s Chairperson Grace Elizabeth Koshie and joined by other Directors, Shareholders, Senior Executives, representatives of Statutory Auditors and Secretarial Auditors of the Bank. While addressing shareholders, Grace Elizabeth Koshie remarked that the Bank led by its twin focus on Digital enablement and people empowerment, supported by operational strength, navigated unprecedented challenges during the year to deliver exceptional numbers. Approval of shareholders was sought for adopting audited financial statements of FY 2020-21 and other resolutions like a declaration of dividend of 35% to the shareholders, approval of the issuance of equity shares on a preferential basis and raising of Tier I Capital of the Bank through Issuance of Securities.  Approval was also

sought for revision of tenure of M/s. Varma and Varma, one of the Joint Statutory Central Auditors, the appointment and fixation of remuneration of branch auditors in consultation with the Statutory Central Auditors, the appointment of Varsha Purandare as an Independent Director of the Bank, re-appointment of Shyam Srinivasan as MD & CEO, Ashutosh Khajuria as Executive Director and A P Hota as an Independent Director and payment of Performance Linked Incentive to Shalini Warrier, Executive Director. 

Pic : Courtesy

Report : Anustup Kundu