J&K Bank shareholders reject a proposal to reappoint four directors

Give approval to raise Rs 550 crore through tier-I bonds and Rs 1,050 crore through Basel III-compliant bonds

The shareholders of Jammu and Kashmir (J&K) Bank have rejected a proposal to reappoint four directors, with over 85 per cent members voting against the plan.

Sunil Chandiramani, Sanjiv Agarwal and Mohammad Ashraf Mir were up for reappointment for two years, from June 17, 2019 to June 16, 2021. Also, Rahul Bansal was due to be reappointed, the bank said in a filing with the BSE after its annual general meeting, which was held on September 26 at the lender’s corporate headquarters in Srinagar.

The bank did not elaborate on the reason for the rejection.

Sonam Wangchuk, co-founder of the