UTI Bank Limited
01 June 2007
Sub: UTI Bank Limited - Resolutions passed by shareholders at AGM held on 1st
At the Annual General Meeting held today at Ahmedabad the following resolutions
were passed by the shareholders of the Bank :
1. Shri Surendra Singh, Dr. R. H. Patil and Smt. Rama Bijapurkar retired by
rotation and were reappointed as Directors.
2. Payment of dividend at @45% (i.e. Rs. 4.50 per equity share). The Dividend
arrants will be dated and payable from June 2, 2007.
3. M/s S. R. Batliboi & Co. were reappointed as the Statutory Auditors of
the Bank for the year 2007-08.
4. To revise the remuneration payable to Shri P. J. Nayak as Chairman and
Managing Director w.e.f. 1st April, 2007.
5. To change the name of the Bank from 'UTI Bank Limited' to 'Axis Bank
Limited' and to make necessary changes in the Memorandum and Articles of
Association and other documents to that effect.
6. To alter the Articles of Association in respect of appointment of
whole-time Chairman of the Bank. This amendment to the Articles of
Association will be effective from 1st August, 2007.
7. In accordance with Section 10-B of the Banking Regulation Act, 1949 and
subject to approval by Reserve Bank of India, to appoint Shri. P. J. Nayak as
the whole-time Chairman of the Bank for the period 1st August, 2007 to 31st
8. Subject to approval of Reserve Bank of India, to approve remuneration
payable to Shri P. J. Nayak as the whole-time Chairman of the Bank w.e.f 1st
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