Indian Bank has announced the extension of the tenure of its Executive Director, Shri Ashutosh Choudhury, for an additional three years. This extension will commence after his current term ends on 2 May 2026, or until further orders, whichever is earlier. The decision was made by the Central Government as per the powers conferred by section 9(3)(a) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, in conjunction with paragraph 8 (1) of the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970.
Shri Ashutosh Choudhury is not related to any other directors of Indian Bank, ensuring compliance with governance norms. Furthermore, the bank has confirmed that he is not debarred from holding the office of Director by any order from SEBI or any other authority.
This extension is part of the bank’s ongoing efforts to maintain leadership stability and continuity in its executive team. Indian Bank continues to focus on its strategic objectives and operational excellence under the guidance of its experienced leadership.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).