Executive Summary:
This notice from the State Bank of India, dated June 9, 2014, announces the election of four directors to the Central Board following a General Meeting scheduled for June 25, 2014. Four candidates were validly nominated and are declared elected. The meeting will also address the approval of the proposed Employee Stock Purchase Scheme (ESPS).
Key Points / Main Content:
Election of Directors:
* Four candidates were validly nominated for the four available director positions.
* As per Regulation 40 of the State Bank of India General Regulations, 1955, these candidates are declared duly elected as Shareholder Directors.
* The elected directors will fill vacancies on the Central Board effective June 26, 2014.
* The elected directors are: Shri. Sunil Mehta, Shri. Deepak I. Amin, Shri. Sanjiv Malhotra, Shri. Mangalore Devdas Mallya.
General Meeting Agenda:
* A General Meeting of Shareholders will be held on June 25, 2014.
* The remaining agenda item is the resolution for approval of the proposed Employee Stock Purchase Scheme (ESPS).
Impact Analysis:
Shareholders:
* Impact: The shareholders have four new directors elected to the board.
* Action Required: Shareholders attending the General Meeting on June 25, 2014, should consider and vote on the resolution for the approval of the proposed ESPS.
State Bank of India:
* Impact: The Central Board will have four new directors.
* Action Required: Incorporate the new directors into the Central Board and proceed with the General Meeting to address the ESPS resolution.
Elected Directors:
* Impact: They are appointed to the Central Board of Directors.
* Action Required: Assume their responsibilities as directors on the Central Board effective June 26, 2014.
Key Entities Referenced
State Bank of India: A major public sector bank in India, constituted under the State Bank of India Act, 1955. The document pertains to a notice regarding the election of directors and a general meeting of shareholders.
State Bank of India Act, 1955: The legislative act under which the State Bank of India was constituted and operates.
Mumbai, Maharashtra: City in Maharashtra where the State Bank of India has its Corporate Centre and where the General Meeting of Shareholders is to be held.
Central Board: The central governing body of the State Bank of India, for which directors are being elected as per the notice.
ESPS: Employee Stock Purchase Scheme, a plan for which shareholder approval is being sought at the General Meeting.
Sunil Mehta: One of the candidates validly nominated for the position of Director on the Central Board of the State Bank of India.
Deepak I. Amin: One of the candidates validly nominated for the position of Director on the Central Board of the State Bank of India.
Sanjiv Malhotra: One of the candidates validly nominated for the position of Director on the Central Board of the State Bank of India.
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III
मादाम कामा रोड, [स.ं िवGापन- /4/असा./39/14]
-
मुंबई 400021.
STATE BANK OF INDIA
(Constituted under the State Bank of India Act, 1955)
NOTICE
Mumbai, the 9th June, 2014
With reference to the Notice dated 07.05.2014 issued by the Chairman of the State Bank of India
(hereinafter the Bank) which was published in the Gazette of India dated 12.05.2014 and also in Newspapers
on 15.05.2014, regarding holding the General Meeting of the Shareholders of the Bank at 11 A.M. on
Wednesday, the 25th June, 2014, in the Bank’s Auditorium, State Bank Bhavan Complex, Madame Cama
Road, Mumbai-400 021 (Maharashtra) to elect four Directors to the Central Board of the Bank under Section
19 (c) of the State Bank of India Act, 1955, and approval of Shareholders for the proposed ESPS, Notice is
hereby given that only Four nominations, submitted by the candidates, have been found valid. The names and
addresses of the candidates whose nominations found valid are as under :—
Sl. No. Name of the Candidate Address
1 Shri. Sunil Mehta 203-A Vivarea, Sane Guruji Marg, Mahalaxmi (East), Mumbai-
400011
2 Shri. Deepak I. Amin 104, Neel kanthTirth, 6th Road, Chembur, Mumbai-400071
3 Shri. Sanjiv Malhotra 6-Motabhoy Mansion, 130 Maharishi Karve Marg, Churchgate,
Mumbai- 400020
4 Shri. Mangalore Devdas Mallya C-601, Ashok Towers, DR. S. S. Rao Marg, OPP. M. G. Hospital,
Parel, Mumbai-400012
2. Since only Four valid Nominations were received against the four vacancies to be filled in, in
terms of Regulation 40 of the State Bank of India General regulations, 1955, the above four candidates validly
nominated for four vacancies, have been declared duly elected as Shareholders’ Directors to the Bank’s
Central Board against the vacancies that may arise with effect from 26th June, 2014.
3. Further, in the General Meeting of shareholders of the Bank scheduled to be held on 25.06.2014,
the remaining agenda item, i.e., resolution for approval of the proposed ESPS, shall be considered.
Corporate Centre, P. PRADEEP KUMAR, Managing Director & Group Executive
State Bank Bhavan,
Madame Cama Road, [No. ADVT.-III/4/Exty./39/14]
Mumbai - 400021.
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054