'No' to Currant Sea nominee on IDFC Bk board
MUMBAI: IDFC First Bank shareholders rejected a proposal to amend the bank's Articles of Association, which would have allowed Currant Sea Investments BV, a Warburg Pincus affiliate, to nominate a non-retiring, non-executive director to the bank's board. The resolution failed to secure the required 75% approval, receiving only 64.1% of votes in favour, with strong opposition from institutional investors.
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