IDFC First Bank Shareholders Approve Appointment of Mr. Narendra Ostawal as Director
IDFC FIRST Bank Limited announced the successful conclusion of its postal ballot process, with shareholders approving the appointment of Mr. Narendra Ostawal as a Non-Executive Non-Independent Directo...
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IDFC First Bank Limited (IDFCFIRSTB) is in the news due to the appointment of a new director, especially one nominated by a significant investor, with overwhelming shareholder approval indicates positive corporate governance and stakeholder confidence.
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IDFC First Bank Shareholders Approve Appointment of Mr. Narendra Ostawal as Director
December 20, 2025, 01:50 PM
IDFC FIRST Bank Limited announced the successful conclusion of its postal ballot process, with shareholders approving the appointment of Mr. Narendra Ostawal as a Non-Executive Non-Independent Director. Mr. Ostawal will serve as the Nominee of Current Sea Investments B.V., an investor in the bank.
The resolution for his appointment was passed as an Ordinary Resolution. The e-voting period commenced on Friday, November 21, 2025, and concluded on Saturday, December 20, 2025. The results, based on the Scrutinizer's Report by Ms. Manisha Maheshwari of Bhandari & Associates, indicate strong support from shareholders, with 99.35% of the valid votes cast in favour of the resolution.
The bank had previously circulated a Postal Ballot Notice on November 20, 2025, seeking member approval for this appointment. The e-voting results confirm that the necessary majority was achieved, and the resolution was declared passed on December 20, 2025. The bank has made the Scrutinizer's Report and the e-voting results available on its website and the NSDL e-voting portal.
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