EX-99 2 d63940dex99.htm EX-99 EX-99

Exhibit 99

August 8, 2025

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Disclosure

We wish to inform you that the 31st Annual General Meeting (AGM) of the Bank was held today i.e. on August 8, 2025 at 2:00 p.m. (IST) through two-way video-conference.

In the above connection, please find enclosed herewith the following disclosures:

 

 

1.

Summary of Proceedings of the 31st AGM;

 

2.

Combined e-voting results in the prescribed format; and

 

3.

Report on combined e-voting results dated August 8, 2025 issued by the Scrutinizer i.e. Mr. B. Narasimhan, Proprietor of M/s. BN & Associates, Company Secretaries.

We request you to bring the above to the notice of all concerned.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head – Secretarial & Group Oversight

Summary of the proceedings of the 31st Annual General Meeting (“AGM”) of the Bank

The 31st AGM of the Bank was held on Friday, August 8, 2025 at 02:00 p.m. (IST) through two-way video conference (VC) in compliance with the circulars issued by Ministry of Corporate Affairs and applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Companies Act, 2013 including the Rules made thereunder.

Mr. Atanu Chakraborty- Part-time Chairman and Independent Director of the Bank, chaired the meeting.

All the Directors were present at the AGM including Mr. M. D. Ranganath- Chairman of the Audit Committee, Mr. Keki Mistry- Chairman of the Stakeholders’ Relationship Committee and Dr. (Mr.) Harsh Kumar Bhanwala - Chairman of the Nomination and Remuneration Committee. The representatives of the Joint Statutory Auditors and Secretarial Auditors for the financial year 2024-25, as well as the legal counsel of the Bank, were also present at the meeting.

At the outset, Mr. Ajay Agarwal, the Company Secretary and Group Head- Secretarial & Group Oversight of the Bank welcomed the shareholders to the AGM. He confirmed that the requisite quorum was present.

Mr. Agarwal thereafter informed that the requisite registers and documents were available for inspection by the Members till the conclusion of the meeting.

Mr. Agarwal further informed the shareholders that the joint Statutory Auditors and Secretarial Auditors had issued unqualified Audit Reports and accordingly, pursuant to the applicable provisions of the Companies Act, 2013 and the Secretarial Standards, the Audit Reports has been taken as read. He further informed that with the permission of the shareholders, the Notice of the AGM has also been taken as read.

Thereafter, the Chairman addressed the shareholders of the Bank with a brief speech wherein he apprised them, inter alia, regarding the domestic as well as global economic outlook, recently concluded Initial Public Offer of HDB Financial Services Limited and other key updates during the current financial year, the Bank’s performance during the financial year 2024-25, governance, technological transformation, financial inclusion, CSR and ESG initiatives etc.

The following businesses as set out in the Notice of 31st AGM were proposed for consideration:

 

Item No.    

Particulars of the Resolution

  

Type of

Resolution

Ordinary Businesses:

1.

   

To receive, consider and adopt the audited financial statements (standalone) of the Bank for the financial year ended March 31, 2025 along with the Reports of the Board of Directors and Auditors thereon.

  

Ordinary

2.

   

To receive, consider and adopt the audited financial statements (consolidated) of the Bank for the financial year ended March 31, 2025 along with the Report of Auditors thereon.

  

Ordinary

3.

   

To consider declaration of dividend on Equity Shares.

  

Ordinary

4.

   

To appoint a Director in place of Mr. Kaizad Bharucha (DIN:02490648), who retires by rotation and being eligible, offers himself for re-appointment.

  

Ordinary

5.

   

To appoint a Director in place of Mrs. Renu Karnad (DIN: 00008064), who retires by rotation and, being eligible, offers herself for re-appointment.

  

Ordinary

6.

   

To appoint M/s. B S R & Co. LLP, Chartered Accountants as one of the Joint Statutory Auditors and to fix the overall remuneration of the Joint Statutory Auditors.

  

Ordinary

Special Businesses:

7.

   

To Issue Long-Term Bonds (financing of infrastructure and affordable housing), Perpetual Debt Instruments (part of additional Tier I capital) and Tier II capital bonds through private placement mode.

  

Special

8.

   

To appoint M/s. Bhandari & Associates, Company Secretaries as Secretarial Auditors and to fix their remuneration.

  

Ordinary

The Chairman thereafter invited the shareholders to put forth their views and seek clarifications, if any, relating to the annual financial statements, the Integrated Annual Report for FY 2024-25 and matters related thereto.

Some of the shareholders expressed their views / sought clarifications on aspects such as inclusion of artificial intelligence in the business activities of the Bank, cyber security, technological advancements, plan for credit growth, synergies achieved due to the merger of Housing Development Finance Corporation Limited with and into the Bank, ESG ratings of the Bank, details of domestic and overseas branches, CSR initiatives etc. After all the queries were raised, the Chairman as well as the Managing Director & Chief Executive Officer gave detailed responses to the said queries.

The Chairman stated that in addition to the remote e-voting facility provided to the Members, the e-voting facility was also available for thirty (30) minutes during the AGM, to those shareholders who had not already voted by means of remote e-voting. He further stated that Mr. B. Narasimhan, Proprietor of M/s. BN & Associates, Company Secretaries, had been appointed as Scrutinizer for scrutinizing the e-voting process in a fair and transparent manner.

The Chairman then stated that the results of the remote e-voting and e-voting during the 31st AGM together with the Scrutinizer’s report, will be disclosed to the stock exchanges and displayed on the website of the Bank within two (2) working days from the conclusion of the AGM.

The Chairman thanked the shareholders for joining the 31st AGM of the Bank and concluded the meeting at 5:30 p.m. (IST).

Based on the Scrutinizer’s Report dated August 8, 2025, all the aforementioned businesses were passed by shareholders with requisite majority.

LOGO

 

CIN: L65920MH1994PLC080618

Email: shareholder.grievances@hdfcbank.com

Website: www.hdfcbank.com

  

HDFC Bank Limited,

HDFC House, H.T. Parekh Marg,

165-66, Backbay Reclamation

Churchgate, Mumbai- 400020

Tel.: 022-66316000

HDFC BANK LIMITED - VOTING RESULTS OF THE THIRTY FIRST ANNUAL GENERAL MEETING

 

Date of declaration of result of Annual General Meeting

   

August 08, 2025

Total number of shareholders on cut off date (August 01, 2025)

   

3585636

No. of Shareholders present in the meeting either in person or through proxy

     

Promoters and Promoter Group:

   

Not Applicable

Public:

     

No. of Shareholders attended the meeting through Video Conferencing

     

Promoters and Promoter Group:

   

-

Public:

   

351

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (01) : To receive, consider and adopt the audited financial
statements (standalone) of the Bank for the financial year ended
March 31, 2025 along with the Reports of the Board of Directors and
Auditors thereon.

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of

Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5116855777    90.855    5114809516    2046261    99.960    0.040
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5116855777    90.855    5114809516    2046261    99.960    0.040

Public - Non Institutions

    E-Voting       23321328    1.143    23084563    236765    98.985    1.015
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23321328    1.143    23084563    236765    98.985    1.015

Total

         7673130193     5140177105     66.989    5137894079      2283026     99.956    0.044

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (02) : To receive, consider and adopt the audited financial
statements (consolidated) of the Bank for the financial year ended
March 31, 2025 along with the Report of Auditors thereon.

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of
Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5116855777    90.855    5114809516    2046261    99.960    0.040
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5116855777    90.855    5114809516    2046261    99.960    0.040

Public - Non Institutions

    E-Voting       23285415    1.141    23076830    208585    99.104    0.896
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23285415    1.141    23076830    208585    99.104    0.896

Total

         7673130193     5140141192     66.989    5137886346     2254846     99.956    0.044

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (03) : To consider declaration of dividend on Equity Shares

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of
Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5181727418    92.007    5181727418    0    100.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5181727418    92.007    5181727418    0    100.000    0.000

Public - Non Institutions

    E-Voting       23456735    1.149    23240655    216080    99.079    0.921
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23456735    1.149    23240655    216080    99.079    0.921

Total

         7673130193     5205184153     67.837    5204968073     216080     99.996    0.004

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (04) : To appoint a director in place of Mr. Kaizad Bharucha
(DIN: 02490648), who retires by rotation and being eligible, offers
himself for re-appointment

Whether promoter/ promoter group are interested in
the agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of
Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5179643998    91.970    5134287062    45356936    99.124    0.876
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5179643998    91.970    5134287062    45356936    99.124    0.876

Public - Non Institutions

    E-Voting       23442849    1.148    22962117    480732    97.949    2.051
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23442849    1.148    22962117    480732    97.949    2.051

Total

         7673130193     5203086847     67.809    5157249179     45837668     99.119    0.881

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (05) : To appoint a director in place of Mrs. Renu Karnad
(DIN: 00008064), who retires by rotation and, being eligible, offers
himself for re-appointment

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of
Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5179643998    91.970    5121884258    57759740    98.885    1.115
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5179643998    91.970    5121884258    57759740    98.885    1.115

Public - Non Institutions

    E-Voting       23324658    1.143    22678584    646074    97.230    2.770
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23324658    1.143    22678584    646074    97.230    2.770

Total

         7673130193     5202968656     67.808    5144562842    58405814    98.877    1.123

LOGO  

 

Resolution required: (Ordinary/Special)

   

Ordinary (06) : To appoint M/s. B S R & Co. LLP, Chartered
Accountants as one of the Joint Statutory Auditors and to fix the
overall remuneration of the Joint Statutory Auditors

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of
Votes -

in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5180879244    91.992    5143293492    37585752    99.275    0.725
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5180879244    91.992    5143293492    37585752    99.275    0.725

Public - Non Institutions

    E-Voting       23285261    1.141    22972741    312520    98.658    1.342
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23285261    1.141    22972741    312520    98.658    1.342

Total

         7673130193     5204164505     67.823    5166266233    37898272    99.272    0.728

LOGO  

 

Resolution required: (Ordinary/Special)

   

Special (07) : To issue Long-Term Bonds (financing of infrastructure
and affordable housing), Perpetual Debt Instruments (part of
additional Tier I capital) and Tier II capital bonds through private
placement

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		   

No. of

Votes
Polled

    % of Votes
Polled on
outstanding
Shares		   

No. of

Votes -
in Favour

    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)       0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5181213544    91.998    5179238213    1975331    99.962    0.038
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5181213544    91.998    5179238213    1975331    99.962    0.038

Public - Non Institutions

    E-Voting       23287773    1.141    23012630    275143    98.819    1.181
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23287773    1.141    23012630    275143     98.819    1.181

Total

         7673130193     5204501317     67.828    5202250843     2250474     99.957    0.043

LOGO  

 

Resolution required: (Ordinary/Special)

   

Special (08) : To appoint M/s. Bhandari & Associates, Company
Secretaries as Secretarial Auditors and to fix their
remuneration

Whether promoter/ promoter group are interested in the
agenda/resolution?

   

No

Category    Mode of Voting    No. of
shares held		    No. of
Votes
Polled		    % of Votes
Polled on
outstanding
Shares		    No. of
Votes -
in Favour		    No. of
Votes -
Against		    % of Votes
in favour
on votes
Polled		    % of Votes
against on
votes
Polled
          1    2    (3)={(2)/(1)}*100     4    5    (6)={(4)/(2)}*100     (7)={(5)/(2)}*100 

Promoter and Promoter Group

    E-Voting       0    0.000    0    0    0.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)        0    0.000    0    0    0.000    0.000
   Total    0    0    0.000    0    0    0.000    0.000

Public - Institutions

    E-Voting       5180556517    91.986    5180556517    0    100.000    0.000
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    5631896151    5180556517    91.986    5180556517    0    100.000    0.000

Public - Non Institutions

    E-Voting       23287823    1.141    22851474    436349    98.126    1.874
   Poll       0    0.000    0    0    0.000    0.000
   Postal Ballot (If Applicable)         0    0.000    0    0    0.000    0.000
   Total    2041234042     23287823    1.141    22851474     436349    98.126    1.874

Total

         7673130193     5203844340     67.819    5203407991     436349    99.992    0.008

Yours faithfully,

For HDFC Bank Limited

 

       

   

LOGO

Ajay Agarwal

Company Secretary

Group Head - Secretarial & Group Oversight

Consolidated Scrutinizer’s Report on remote e-voting & voting conducted at the 31st Annual General Meeting of HDFC Bank Limited held on Friday, August 8, 2025

To,

The Chairman

HDFC Bank Limited

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400013.

Sub: Consolidated Scrutinizer’s Report on remote e-voting and e-voting conducted pursuant to Section 108 of the Companies Act, 2013 (“Act”) read with Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended, and in accordance with the various General Circulars issued by the Ministry of Corporate Affairs (‘MCA’) and the Securities and Exchange Board of India (‘SEBI’) in this regard.

I, B Narasimhan, Proprietor of BN & Associates, Company Secretaries, had been appointed as a Scrutinizer by the Board of Directors of HDFC Bank Limited (hereinafter referred to as the “Bank”) at its meeting held on June 20, 2025 to scrutinize the remote e-voting process and e-voting process conducted at the 31st (Thirty–First) Annual General Meeting (‘AGM’) of the Bank held on Friday, August 8, 2025 at 02:00 P.M. (IST) by means of Video-Conferencing (VC), in a fair and transparent manner, pursuant to Section 108 of the Act read with Rule 20 of the Companies (Management and Administration) Rules, 2014 and in accordance with the Regulation 44 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (“SEBI Listing Regulations”), as amended, by MCA and SEBI respectively (hereinafter referered to as “Applicable Circulars”), providing relaxation for the manner in which the AGM shall be held and conducted including the manner of sending the Notices and Annual Reports to the shareholders and the manner of voting at the meeting.

I say, I am familiar and well versed with the concept of electronic voting system as prescribed under the said Rules and the relaxations as provided in the Applicable Circulars.

Report on Scrutiny:

 

 

•

  

The Bank had appointed the National Securities Depository Ltd. (‘NSDL’) as the Service provider, for the purpose of extending the facility of Remote E-Voting to the Members of the Bank and for voting electronically at the meeting.

 

 

•

  

Datamatics Business Solutions Ltd. (formerly Datamatics Financial Services Ltd.) is the Registrar and Share Transfer Agents (‘RTA’) of the Bank.

 

 

•

  

NSDL had provided a system for recording the votes of the Members electronically through remote e-voting as well as at the AGM on all the businesses (both Ordinary and Special businesses) sought to be transacted at the 31st AGM of the Bank, which was held on Friday, August 8, 2025. Further, the electronic voting facility was set up on their website, https://www.evoting.nsdl.com. The AGM Notice was hosted on the Bank’s website and that of NSDL, and the Stock Exchanges viz., BSE Limited and National Stock Exchange of India Limited to facilitate the Members of the Bank to cast their vote electronically through e-voting.

 

 

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The Management of the Bank is responsible for ensuring compliance with the requirements of the Act, the Rules made thereunder and the SEBI Listing Regulations. My responsibility as the Scrutinizer of the voting process (through E-voting), was restricted to scrutinize the e-voting process, in a fair and transparent manner and to prepare a Scrutinizer’s Report of the votes cast in favour and against the resolutions stated in the Notice, based on the reports generated from the e-voting system provided by NSDL.

 

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The cut-off date to determine the shareholders entitled to receive the Notice of the AGM was July 11, 2025 and as on that date, there were 35,90,231 Members of the Bank. As mentioned in the Applicable Circulars, NSDL had sent the Notices of the AGM along with Integrated Annual Report and E-voting details by e-mail to 34,55,022 Members consitituting 96.23% of the total Members, whose email-id was registered with the Depositories/ RTA.

 

 

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The Notices sent through e-mail contained the detailed procedure to be followed by the Members who were desirous of casting their votes electronically as provided in the Rule 20 of the Companies (Management and Administration) Rules, 2014 as amended and as provided in the Applicable Circulars.

 

 

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The Bank had completed the dispatch of the notices by e-mail to the Members on Monday, July 14, 2025.

 

 

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The Bank, in terms of Regulation 36 (1) of the SEBI Listing Regulations, had also sent a letter to the Members, whose e-mail address was not registered with their respective Depository Participan or RTA, stating the web-link and the navigation path to access the Annual Report.

 

 

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The Cut-off date for the purposes of identifying the Members who were entitled to vote on the resolutions placed for approval of the Members was Friday, August 1, 2025. As on that date there were 35,85,636 shareholders who were eligible to participate in the voting.

 

 

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The voting period for remote e-voting commenced on Monday, August 4, 2025 (10:00 A.M IST) and ended on Thursday, August 7, 2025 (5:00 P.M. IST)

 

 

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As prescribed in clause IV of the Circular dated May 5, 2020 issued by MCA, which is forming part of the Applicable Circulars, the Bank had released an advertisement prior to sending Notices to the Shareholders which was published in English Newspaper i.e., ‘Business Standard’ having country-wide circulation dated June 25, 2025 and in Marathi Newspaper i.e. ‘Navshakti’ dated June 25, 2025. The Notice published in these newspapers contained the required information as provided under clause IV (a) to (f) of the said circular.

 

 

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As prescribed in clause (v) of sub-rule 4 of the Rule 20 of the Companies (Management and Administration) Rules, 2014, the Bank also released an advertisement, which was published more than 21 days before the date of the AGM in English Newspaper i.e. ‘Business Standard’ having country-wide circulation dated July 15, 2025 and in Marathi Newspaper i.e. ‘Navshakti’ dated July 15, 2025. The notice published in these newspapers contained the required information as specified in sub-rule 4(v) (a) to (h) of the said Rule 20.

 

 

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At the end of the voting period on August 7, 2025 at 5:00 P.M.IST, the voting portal of NSDL was disabled and the details of the shareholders who have participated through remote evoting was downloaded from the website of NSDL.

 

 

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At the 31st AGM of the Bank held through VC, the facility to vote electronically was provided to those members who attended the meeting through VC but could not participate in the remote e-voting to record their votes after considering all the items of business.

 

 

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On August 8, 2025, after tabulating the votes cast electronically through the system provided by NSDL, the votes cast through Remote E-Voting facility was duly unblocked by me as a Scrutinizer in the presence of Mr. K. Venkataraman and Mr. Kartik Madrecha who acted as the witnesses, as prescribed in Sub Rule 4(xii) of the said Rule 20. After unblocking the votes cast, the total votes cast both through remote e-voting and by voting through electronic means at the AGM, were consolidated and the final Scrutinizer’s Report was prepared.

 

 

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Thereafter, I as a Scrutinizer duly compiled details of the Remote E-Voting carried out by the Members and the electronic voting done at the AGM, the details of which are as follows:

The results of the Remote E-voting together with that of the voting conducted at the 31st AGM by way of Electronic means are as under:

 

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Details    Remote E-voting   

Voting through

electronic means

at AGM

    Total voting

Number of members who cast their votes

    9,493    47    9,540

Total number of Shares held by them

    521,90,89,612    3,02,526    521,93,92,138

Valid votes

   

As per details provided under each one of the Resolution(s) mentioned hereunder

Invalid Votes

   

Various as mentioned under each of the Resolution

Note:

1. Percentage of votes cast in favour or against the resolutions is calculated based on the Valid Votes cast through Remote E-Voting and through electronic voting at the AGM.

ORDINARY BUSINESS

I) Item No. 1 of the Notice (As an Ordinary Resolution):

To receive, consider and adopt the audited financial statements (standalone) of the Bank for the year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      513,78,94,079        99.956         22,83,026         0.044         792,15,033  

Item No. 1 of Notice stands passed with the requisite majority.

II) Item No. 2 of the Notice (As an Ordinary Resolution):

To receive, consider and adopt the audited financial statements (consolidated) of the Bank for the year ended March 31, 2025 and the Reports of the Auditors thereon.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      513,78,86,346        99.956         22,54,846         0.044         792,50,946  

Item No. 2 of Notice stands passed with the requisite majority.

 

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III) Item No. 3 of the Notice (As an Ordinary Resolution):

To consider declaration of dividend on Equity Shares.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      520,49,68,073        99.996         2,16,080         0.004         142,07,985  

Item No. 3 of Notice stands passed with the requisite majority.

IV) Item No. 4 of the Notice (As an Ordinary Resolution):

To appoint a director in place of Mr. Kaizad Bharucha (DIN: 02490648), who retires by rotation and, being eligible, offers himself for re-appointment.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

    

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent      Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      515,72,49,179         99.119        458,37,668         0.881         163,05,291  

Item No. 4 of Notice stands passed with the requisite majority.

V) Item No. 5 of the Notice (As an Ordinary Resolution):

To appoint a director in place of Mrs. Renu Karnad (DIN: 00008064), who retires by rotation and, being eligible, offers herself for re-appointment.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      514,45,62,842         98.877         584,05,814         1.123         164,23,482  

Item No. 5 of Notice stands passed with the requisite majority.

 

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VI) Item No. 6 of the Notice (As an Ordinary Resolution):

To Appoint M/s. BSR & Co. LLP, Chartered Accountants as one of the Joint Statutory Auditors and to fix the overall remuneration of the Joint Statutory Auditors.

 

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      516,62,66,233        99.272         3,78,98,272         0.728         152,27,633  

Item No. 6 of Notice stands passed with the requisite majority.

SPECIAL BUSINESS

VII) Item No. 7 of the Notice (As a Special Resolution):

To issue Long-Term Bonds (financing of infrastructure and affordable housing) Perpetual Debt Instruments (part of additional Tier I capital) and Tier II capital bonds through private placement.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      520,22,50,843        99.957         22,50,474         0.043         148,90,821  

Item No. 7 of Notice stands passed with the requisite majority.

VIII) Item No. 8 of the Notice (As an Ordinary Resolution):

To appoint M/s. Bhandari & Associates, Company Secretaries as Secretarial Auditors and to fix their remuneration.

 

 

Manner of voting

     

 Votes

in favour of the resolution

  

 

     

 Votes

against the resolution

  

 

     

 Abstained/
less voted
/ invalid		  
 
 
   Number of
Shares		      Percent       Number of
Shares		      Percent       Number of
Shares		  

Total votes through Remote e-Voting and E-Voting at the AGM

      520,34,07,991        99.992         4,36,349         0.008         155,47,798  

Item No. 8 of Notice stands passed with the requisite majority.

 

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All the Resolutions mentioned in the Notice of 31st AGM of the Bank dated June 20, 2025, as per the details above, stands passed under Remote E-voting and voting conducted at the AGM electronically with the requisite majority and hence deemed to be passed as on the date of the AGM.

I hereby confirm that I am maintaining the soft copy of the Registers received from the Service Provider in respect of the votes cast through Remote E-Voting and voting conducted at AGM by way of electronic means by the Members of the Bank. All other relevant records relating to remote e-voting and Electronic voting is under my safe custody and will be handed over to the Company Secretary for safe keeping, after the Chairman signs the Minutes.

Thanking you,

Yours Faithfully

For BN & Associates

 

B Narasimhan

   

Place: Mumbai

   

Date 8th August 2025

   

(Proprietor)

         

Regn: 2011MH166700

         

Membership no FCS 1303 COP no 10440

         

PR Cert No. 925/2020

         

UDIN No. F001303G000925358

         

The following were the witnesses to the unblocking the votes cast through remote e-voting.

 

 

     

 

   

1. Mr. K Venkataraman

     

2. Mr. Kartik Madrecha

   

I have received the report: 

 

Signature        

   

Ajay Agarwal

   

Place: Mumbai

Company Secretary

   

Group Head – Secretarial & Group Oversight

   

Date: August 8, 2025

 

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