UCO Bank: Rajesh Kumar Ailawadi Deemed Elected as Shareholder Director
UCO Bank announces Rajesh Kumar Ailawadi is deemed elected as Shareholder Director following a single valid nomination. The EGM on March 16, 2026, will not proceed with this election agenda item. Ailawadi assumes office March 8, 2026, serving until January 9, 2028.
The election of a single director is a standard corporate governance procedure and is unlikely to have a significant impact on the bank's operations or financial performance.
The announcement is a routine update regarding the election of a director, with no significant positive or negative financial implications.
UCO Bank has announced that Mr. Rajesh Kumar Ailawadi has been deemed elected as a Shareholder Director. This follows the receipt of a single valid nomination for the position of Director amongst shareholders other than the Central Government.
The Extraordinary General Meeting (EGM) was scheduled to be held on March 16, 2026, at 11:00 am via Video Conference (VC)/Other Audio-Visual Means (OAVM) for this election.
Mr. Ailawadi, aged 60, holds a Bachelor of Science and Bachelor of Law degree and possesses relevant experience in Law, Personnel Management, Industrial Relations, and Business Management. The Nomination and Remuneration Committee of the Board (NRCB) met on March 7, 2026, and accorded a “Fit and Proper” status to him.
As there was only one valid nomination and the candidate was deemed “Fit and Proper,” Mr. Ailawadi is considered elected as a Shareholder Director. He will assume office effective March 8, 2026, and his term will extend until January 9, 2028.
Consequently, Agenda Item No. 1 concerning the election of a Shareholder Director will not be transacted at the EGM, and the associated voting has been cancelled. However, the EGM will still proceed as scheduled on March 16, 2026, at 11:00 am to transact another agenda item, with remote e-voting taking place as per the EGM Notice dated February 19, 2026.
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