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Indian Bank AGM Information 2021

Jul 16, 2021

61679_rns_2021-07-16_cac6119f-d0e6-49b4-8b25-f19eec560a4e.pdf

AGM Information

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Dear Sir/Madam,

Subject: Outcome of 15thAnnual General Meeting of the Bank: Proceedings of the Meeting and Scrutinizer's Report regarding result of remote e-voting and e-voting during the AGM

In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a copy of proceedings of the 15thAnnual General Meeting of the Bank held on date i.e. 16thJuly 2021 at 11.00 a.m. (1ST) through Video Conferencing (VC)/ Other Audio Visual Means (OAVM) along with Scrutinizer's Report regarding result of remote e-voting and e-voting during the AGM on the agenda items of the meeting.

As per the Scrutinizer's Report, both the Agenda Items of the meeting as set out in Item No. 1 and Item No. 2 of the Notice of the AGM dated 10thJune, 2021 have been passed with overwhelming majority.

This is for your information, records and dissemination please.

Yours faithfully,

2/7/16

(Dina Nath Kumar) AGM & Company Secretary

Corporate Office: 254-260, Avvai Shanmuqam Salai, Roypettah, Chennai - 600014

PROCEEDINGS OF THE 15thANNUAL GENERAL MEETING OF THE BANK HELD ON FRIDAY, THE 16THJULY 2021 THROUGH VIDEO CONFERENCING (VC) / OTHER AUDIO VISUAL MEANS (OAVMs)

    1. The Annual General Meeting (AGM) of the Bank was held on 16thJuly, 2021 at 11.00 a.m. through Video Conferencing / Other Audio Visual Means in accordance with the Notice dated June 10, 2021 and in compliance with MCA (Ministry of Corporate Affairs) / SEBI / GOI guidelines.
    1. Ms. Padmaja Chunduru, Managing Director & CEO of the Bank chaired the meeting and welcomed all the shareholders of the Bank.
    1. After confirmation of the requisite quorum by the Company Secretary, the Chairperson called the meeting to order and requested the Directors attending the meeting to introduce themselves.
    1. The meeting was attended by Shri V V Shenoy, Executive Director, Shri Imran Amin Siddiqui, Executive Director, Shri S K Panigrahy, RBI Nominee Director and Dr. Bharath Krishna Sankar, Shareholder Director.
    1. The Chairperson informed that the Bank had received a communication from the Government of India authorizing Shri Jnanatosh Roy, Under Secretary, Department of Financial Services, Ministry of Finance to attend and represent the Government of India at the meeting. Shri Jnanatosh Roy introduced himself and participated in the meeting through VC.
    1. The Chairperson informed that in compliance with the extant guidelines, the Bank has sent copy of AGM Notice along with Annual Report to shareholders through email and requested Shri Arun Kumar Bansal, CFO of the Bank to provide details of the same.
    1. Shri Arun Kumar Bansal, CFO of the Bank provided details of publication of AGM Notice and e-voting process in newspapers. He informed that the soft copy of AGM Notice alon9 with a link for accessing the Bank's Annual Report for FY 2020-21 was sent on 23r June 2021 through e-mail to those shareholders whose email Ids were registered in the records of either the Bank's RTA or the Depositories.
    1. He further informed that the AGM Notice has been hosted on the Bank's website and also filed with the Stock Exchanges, NSE & BSE for public dissemination. Thereafter the CFO requested the Chairperson to continue with the further proceedings.
    1. Thereafter, with consent of the shareholders attending the meeting, AGM Notice and Annual Report for FY 2020-21 was taken as read.
    1. The Chairperson then proceeded to provide snapshot of Bank's performance during FY 2020-21 on key parameters like Business, Earnings & Profitability, Asset Quality & Capital, Technology & Digital Initiatives, Customer Convenience, Enhanced IT Security, Strategic Initiatives etc. She also provided insight in respect of synergies realized by the amalgamation of erstwhile Allahabad Bank into Indian B• .d-19 challenges and the way forward.

    1. The chairperson then took up the Agenda items of the meeting as provided in the AGM Notice.
    1. The Chairperson announced that the first Agenda item of the meeting is to discuss, approve and adopt the Balance Sheet and Profit and Loss Account for the year ended 31stMarch 2021 together with the Reports of Board of Directors on the working and activities of the Bank for the Financial Year 2020-21 and Auditors' Report on Balance Sheet and Accounts; and

The second Agenda item of the meeting is Declaration of Dividend on Equity Shares of the Bank.

    1. The Chairperson informed that the Board of Directors of the Bank have recommended a dividend of Rs.2.00 per equity share i.e. 20% of paid equity capital of the Bank for the financial year 2020-21. 09thJuly 2021 was fixed as the Record Date for determining the eligibility of the shareholders to receive dividend, if declared, in the Annual General Meeting. Accordingly, all persons who were shareholders of the Bank as on 09thJuly 2021 will be entitled to receive dividend @ Rs.2.00 per equity share.
    1. The Chairperson then provided the details about remote e-voting and Scrutinizer appointed by the Bank for overseeing e-voting process.
    1. The Chairperson then announced the commencement of voting on both the agenda items and informed that the shareholders who have not casted their vote through remote e-voting can cast their vote through e-voting during the meeting using the e-voting platform.
    1. The Chairperson invited the shareholders who had pre-registered themselves as "Speaker" for discussing the agenda items of the meeting.
    1. After conclusion of the discussion, the chairperson responded to the queries raised by the speaker shareholders.
    1. The Chairperson thanked all the shareholders for their participation and informed that e-voting facility shall remain open for the next 15 minutes and thereafter the meeting will stand closed.
    1. The Chairperson informed that based on the Scrutinizer's Report, consolidated result of remote e-voting and e-voting held during the AGM will be communicated to the Stock Exchanges, NSE & BSE and will also be made available on the Bank's website.

(Dina Nath Kumar)

Asst. General Manager & C

S. N. ANANTHASUBRAMANIAN & CO lic=i Company Secretaries

SCRUTINIZER'S REPORT

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1. Appointment as Scrutinizer

We were appointed as the Scrutinizer for the remote e-voting as well as the e-voting by Shareholders at the 15thAnnual General Meeting ("AGM") of Indian Bank (hereinafter referred to as the Bank) held on Friday, 16thJuly, 2021 at 11:00 a.m. (IST) held through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM"). Our responsibility as a Scrutinizer was to ensure that the voting process was conducted in a fair and transparent manner and submit a Scrutinizer's report on voting on the resolutions, based on the reports generated from the electronic voting system.

2. Dispatch of Notice convening the AGM

2.1 Pursuant to General Circulars No. 14/2020, 17/2020, 20/2020 and 02/2021 dated 8thApril, 2020, 13thApril, 2020, 5thMay, 2020 and 13thJanuary, 2021 respectively issued by the Ministry of Corporate Affairs, advertisement was published in Business Standard (English and Hindi newspaper) and Dinamani, (Tamil — vernacular language newspaper), having electronic editions on 15th June, 2021 and 24th June, 2021 respectively, specifying the date and time of the AGM, availability of the notice on Bank's website and website of the Stock Exchanges, manner of registration of email ids by the Shareholders (both physical and demat) who are yet to register their email ids

Digitally signed by MA LATI MALATI ANIL KUMAR ANIL KIJM AR:79-25°02+0°573:06

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15th AGM of Indian Bank held on 16thJuly, 2021

Page 2 of 7

11 S. N. XNANTH XSUBR %MAN- IAN CO Company Secretaries

with the Bank, manner of voting through remote e-voting or through e-voting system at the AGM, etc.

  • 2.2 The Bank hosted the notice of AGM on its website, website of CDSL (e-voting Agency) and also submitted the same to BSE Limited and National Stock Exchange of India Limited on 23rd June, 2021.
  • 2.3 The Bank informed that on the basis of the Register of Shareholders and the list of Beneficial Owners made available by Cameo Corporate Services Ltd., the Registrar and Share Transfer Agents ("RTA") of the Bank and the depositories viz., National Securities Depository Limited ("NSDL") and Central Depository Services (India) Limited ("CDSL") respectively, the Bank completed dispatch of Notice of AGM on 23rd June, 2021 by e-mail to 2,32,534 Shareholders whose email ids were registered with the Bank / Depositories.

3 Cut-off date

3.1 Voting rights were reckoned as on Friday, 09thJuly, 2021, being the cut-off date for the purpose of deciding the entitlements of Shareholders for remote e-voting and e-voting at the AGM, in respect of agenda items No.1 and 2 of the Notice of AGM dated 10thJune, 2021.

4 Remote e-voting process

4.1 Agency

The Bank appointed Central Depository Services (India) Limited ("CDSL") as the agency for providing the platform for remote e-voting and e-voting at the AGM.

4.2 Remote e-voting period

Remote e-voting platform was open from 10:00 a.m. on Tuesday, 13thJuly, 2021 till 05:00 p.m. on Thursday, 15thJuly, 2021 and Shareholders were

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15"' AGM of Indian Bank held on 16thJuly, 2021

required to cast their votes electronically conveying their assent or dissent in respect of the resolutions on the remote e-voting platform provided by CDSL.

5 Voting at the AGM

  • 5.1 As prescribed under Rule 20(4)(xiii) of the Companies (Management and Administration) Rules, 2014, for the purpose of ensuring that Shareholders who have cast their votes through remote e-voting do not vote again at the General Meeting, the Scrutinizer shall have access after closure of period of remote e-voting and before the start of General Meeting, to only such details relating to Shareholders who have cast their votes through remote e-voting, such as their names, DP ID & Client ID / folios, number of shares held.
  • 5.2 Accordingly, CDSL, the remote e-voting agency provided us with the names, DP ID & Client ID / folios and shareholding of the Shareholders who had cast their votes through remote e-voting.

6 Counting Process

  • 6.1 On completion of e-voting at the AGM, we unblocked the results of the remote e-voting and e-voting by Shareholders at the AGM, on the CDSL e-voting platform and downloaded the results for scrutiny.
  • 6.2 No Shareholder of the Bank other than the Central Government holds more than 10% of total voting rights of all Shareholders of the Bank, accordingly, provisions of Section 3(2E) of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 with respect to restriction of voting rights, are not applicable.

7. Results

7.1 Consolidated results with respect to Item Nos.1 & 2 on the agenda as set out in the Notice of the AGM dated 10thJune, 2021 are enclosed herewith.

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15thAGM of Indian Bank held on 16thJuly, 2021

11 I S. N. AN XNTHASUBR %MANIA\ & CO Company Secretaries

7.2 Based on the aforesaid results, we report that 02 (Two) Ordinary Resolutions as set out in Item No. 1 and Item No. 2 of the Notice of the AGM dated 10th June, 2021 have been passed with the requisite majority.

For S. N. ANANTHASUBRAMANIAN & Co. Company Secretaries ICSI Unique Code: P1991MH040400

MALATI ANIL KUMAR Digitally signed by Date 2021.07.16 1430:45 *0530'

Malati Kumar Partner ACS: 15508 1 COP No. : 10980

ICSI UDIN: A015508C000643951

16thJuly, 2021 I Thane

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15"' AGM of Indian Bank held on 16"7 July, 2021

r-1 S. N. 4N ANTH ASUBR AN! XN Al CO Company Secretaries

CONSOLIDATED RESULTS

Item No. 1: To discuss, approve and adopt the Audited Balance Sheet of the Bank as at March 31, 2021, the Profit and Loss account for the year ended on that date, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors' Report on the Balance Sheet and Accounts.

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Based on the aforesaid result, we report that the Ordinary Resolution as set out in Item No. 1 of the Notice of the AGM dated 10th June, 2021 has been passed with requisite majority.

Malati Kumar Partner ACS: 15508 I COP No. : 10980 ICSI UDIN: A015508C000643951

16thJuly, 2021 I Thane

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15th AGM of Indian Bank held on 16th July, 2021

Page 6 of 7

S. N. ANANTH XSUBRAM AN11N Si CO y.=.1 Company Secretaries

CONSOLIDATED RESULTS

Item No. 2: To declare dividend on Equity Shares.

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Based on the aforesaid result, we report that the Ordinary Resolution as set out in Item No. 2 of the Notice of the AGM dated 10'h June, 2021 has been passed with requisite majority.

MALATI ANIL KUMAR

Malati Kumar Partner ACS: 15508 I COP No. : 10980

ICSI UDIN: A015508C000643951

16th July, 2021 I Thane

Report of Scrutinizer on remote e-voting and voting by Shareholders at the 15thAGM of Indian Bank held on 16th July, 2021

Page 7 of 7

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