IndusInd Bank gets promoter IIHL backing as shareholders weigh in on nominee director proposal

NEW DELHI: IndusInd Bank on Friday said its proposal to induct two nominee directors on the private sector lender’s board could not get shareholders’ approval at the bank’s annual general meeting.

The majority shareholders, 54.04 per cent, voted against the amendment in the articles of association of the bank, as per the regulatory filing by IndusInd Bank.

However, the shareholders approved the appointment of new Managing Director and CEO Rajiv Anand as part of its efforts to come out of the financial mess caused by past frauds.

Source: PTI News

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