Bank of Maharashtra has confirmed four valid nominations for the election of one Shareholder Director, excluding the Central Government, at the upcoming Extraordinary General Meeting (EGM) on March 23, 2026. Candidates include Reena Tripathi, Alok Jain, Ruma Dey, and Prasenjeet Fadnavis. Following RBI’s ‘Fit and Proper’ approval, the election process, including remote voting from March 18 to March 22, 2026, will proceed to elect the director receiving the majority of votes.
EGM Scheduled for Shareholder Director Election
Further to earlier communication, Bank of Maharashtra announces an update regarding the election of one Director from amongst the shareholders (excluding the Central Government) during the Extraordinary General Meeting (EGM) scheduled for March 23, 2026, at 11:00 am via Video Conference (VC)/Other Audio Visual Means (OAVM).
The Bank confirmed receipt of four nominations for the single vacancy by the deadline of 5:00 pm on March 6, 2026. Subsequently, the Board of Directors, in their meeting held on March 9, 2026, accorded “Fit and Proper” status to all listed candidates, as per RBI directions.
Nominees for the Shareholder Director Position
The four eligible candidates contesting the election are detailed below, showcasing diverse professional backgrounds:
- Reena Tripathi (Age 61): Possesses extensive qualifications including an Executive MBA from IIM Bangalore and a Bachelor of Law. Her relevant experience spans Taxation, Law & Finance.
- Alok Jain (Age 55): A Chartered Accountant with a Bachelor of Commerce. Experience covers Audit, Financial Advisory, Valuation, Banking & NBFCs, and Consultancy Services.
- Ruma Dey (Age 60): Holds a Bachelors of Science (Hons.) and is a Certified Anti-Money Laundering Specialist, with experience in Banking & Finance.
- Prasenjeet Fadnavis (Age 52): Qualified with a Bachelor in Computer Science, L.L.B, and a Diploma in Cyber Law. Relevant expertise lies in Information Technology, Cyber Law & Legal matters.
Election and Voting Details
Pursuant to regulations, since there are four candidates for one vacancy, the election will be conducted at the scheduled EGM on March 23, 2026.
The voting mechanism includes Remote Voting, which will commence from 9:00 am on Wednesday, March 18, 2026, and close at 5:00 pm on Sunday, March 22, 2026, in addition to the voting facility available during the EGM.
The candidate securing the majority of votes polled during this period will be declared the elected Shareholder Director of the Bank.
Source: BSE
