CSB Bank to seek shareholder approval via postal ballot for director appointment and executive pay revisions
CSB Bank is conducting a postal ballot for shareholders to approve the appointment of Ms. Sheetal Rupesh Sancheti as a Director. Shareholder approval is also sought for revised fixed pay for MD & CEO Mr. Pralay Mondal (₹2.79 crore from ₹2.54 crore) and Whole-time Director Mr. B K Divakara (₹88 lakh from ₹80 lakh), effective April 1, 2025. Variable pay for Mr. Mondal for FY26 is also on the agenda.
The decisions regarding director appointments and executive remuneration are significant for the company's governance and operational leadership, potentially impacting strategic direction and employee morale. The outcomes of these votes directly affect key personnel and board composition.
The announcement is a routine corporate action involving shareholder approval for director appointments and remuneration adjustments, which are standard procedures and do not inherently indicate positive or negative performance.
CSB Bank Limited has announced a postal ballot process to seek shareholder approval for several key decisions. The company has issued a notice dated December 22, 2025, detailing the items of special business that require member approval through electronic voting.
The proposed resolutions include the appointment of Ms. Sheetal Rupesh Sancheti as a Non-Executive Non-Independent Director, effective November 5, 2025. Additionally, shareholders will vote on the revision of fixed pay for Mr. Pralay Mondal, Managing Director & CEO, from ₹2,54,00,000 to ₹2,79,40,000 per annum, effective April 1, 2025. The approval for variable pay for Mr. Mondal for the Financial Year 2025-26 is also sought, which can range from 100% to 300% of his fixed pay, subject to RBI approval and performance parameters.
Furthermore, the shareholders will vote on the revision of fixed pay for Mr. B K Divakara, Whole-time Director (designated as Executive Director), from ₹80,00,000 to ₹88,00,000 per annum, effective April 1, 2025. The postal ballot process, including remote e-voting, will commence on Tuesday, December 23, 2025, at 09:00 a.m. IST and conclude on Wednesday, January 21, 2026, at 05:00 p.m. IST. The results of the voting are expected to be declared on or before Friday, January 23, 2026.
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CSB Bank Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by CSB Bank Limited. Read the original for the full detail.