The term of Misra, a nominee of SUUTI, as the Non-Executive Chairman of the Bank expired on March 7, 2016, upon completion of tenure of 3 continuous years, the filing said. T
"SUUTI has re-appointed Sanjiv Misra as the Non-Executive Chairman of the Bank on a part time basis, for a period of three months, with effect from March 8, 2016 up to June 7, 2016," it said.
The Bank said that it will seek its board's approval to re-appoint Sanjiv Misra as the Non-Executive Chairman of the bank on a part time basis.
The Union Government holds 11.7 per cent stake in Axis Bank through the Specified Undertaking of the Unit Trust of India (SUUTI).
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