Shareholders of IndusInd Bank opposing promoters' plans to appoint new directors

IndusInd Bank Shareholders Reject Resolution on Nominee Directors

In an unexpected turn of events, shareholders of IndusInd Bank have rejected a resolution that would have allowed the promoter company, IndusInd International Holdings (IIHL), to appoint two nominee directors on the bank's board. This rejection occurred during the annual general meeting (AGM) held on August 29, 2025.

Despite the rejection, it's worth noting that the AGM for FY25 was a successful event overall. All other resolutions, including the appointment of Rajiv Anand as the bank's CEO for the fiscal year, were approved with majority votes.

The specific resolution in question received 46% of the votes, while 54% were cast against it. The resolution's rejection was due to certain observations raised by proxy advisors.

Moses Harding, President & CEO of IndusInd International Holdings, the promoter of IndusInd Bank, has stated that the bank's endeavour will be to dispel the notion raised by the proxy advisors on the matter. Mr. Harding also declared that the resolution was deemed in accordance with applicable laws and governance practices.

Rajiv Anand, who was appointed as the bank's CEO for FY25, will now lead the bank through this challenging situation. His leadership and strategic vision are expected to guide IndusInd Bank towards a resolution that is in the best interest of all shareholders.

As the bank moves forward, it is crucial to maintain a transparent and open dialogue with shareholders to address their concerns and ensure the bank's continued growth and success. IndusInd Bank remains committed to upholding the highest standards of corporate governance and will continue to work diligently to regain the trust and support of its shareholders.

Shareholders of IndusInd Bank opposing promoters' plans to appoint new directors