Oriental Bank of Commerce (Delisted) MD, chairman, board of directors and AGM

BSE: 500315

Last traded ₹43.45 on 20 Mar 2020

Delisted on 27 May 2020.

Oriental Bank of Commerce AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Oriental Bank of Commerce share news and announcements

Annual general meeting, 29 Jun 2019

Present: 1 promoter and 200 others.The company's voting result (opens in a new tab)

  1. To approve and adopt the Balance Sheet and Profit & Loss Account of the Bank for the year ended 31st March 2019, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors' Report on the Balance Sheet and AccountsMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 94.72% · promoters 100.00% · institutions 88.78% · other public 0.50%

  2. To create, issue, offer or allot by way of Qualified Institutional Placement, or by way of public issue, or any other method approved by GOI/RBI/SEBI as per the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, the Banking Regulation Act, 1949, the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980, OBC (Shares and Meetings) Regulations 1998, the SEBI ICDR Regulations, 2018 and all other guidelines issued by the RBI, SEBI and any other authority as applicable, such number of equity shares for an amount not exceeding Rs.3000 crore (including share premium), in such manner that the Central Government shall at all times hold not less than 52% of the paid-up equity capital of the Bank whether at a discount or premium to the market price (as detailed in the Notice of the AGM)MoreLess
    Special
    98.19% for1.81% against

    Against: promoters 0.00% · institutions 24.03% · other public 0.97%

    Turnout: all 94.74% · promoters 100.00% · institutions 88.92% · other public 0.49%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 22 Mar 2019, 1 resolution

Present: 0 promoters and 0 others.The company's voting result (opens in a new tab)

  1. To create, offer, issue and allot requisite number of Equity Shares of face value of Rs. 10/- (Rupees Ten only) each to the Government of India (`GOI`) aggregating to Rs. 1186 Crore (Rupees One Thousand One Hundred Eighty Six Crore only) on preferential basis inclusive of premium for cash at an Issue Price to be determined in accordance with Regulation 164 of the SEBI (ICDR) Regulations 2018.MoreLess
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.40%

    Turnout: all 92.06% · promoters 100.00% · institutions 87.22% · other public 0.08%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 7 Feb 2019, 1 resolution

Present: 1 promoter and 91 others.The company's voting result (opens in a new tab)

  1. To create, offer, issue and allot 57,23,20,499 Equity Shares of the Bank of face value of Rs. 10/- (Rupees Ten only) each for cash at an Issue price (including premium) of Rs. 96.10 (Rupees Ninety Six and paise ten only) per equity share, as determined in accordance with Regulation 164(1) of SEBI ICDR Regulations aggregating upto Rs. 5500 crore (Five Thousand Five Hundred Crore Only) on preferential basis to Government of India (President of India) pursuant to the provisions of SEBI ICDR Regulations, the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980 read with the Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1980 and other applicable laws/guidelines and subject to approval of Central Government, Reserve Bank of India, SEBI or any other authority as may be required in this regard.MoreLess
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.04% · other public 12.19%

    Turnout: all 91.95% · promoters 100.00% · institutions 86.81% · other public 0.07%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Extraordinary general meeting, 21 Dec 2018, 1 resolution

Present: 1 promoter and 75 others.The company's voting result (opens in a new tab)

  1. To create, grant, offer, issue and allot up to 5,00,00,000 (Five crore) new equity shares of face value of ?10/- (Rupees Ten only) each, ranking pari passu with the existing equity shares of the Bank for all purpose and in all respects, including payment of dividend, under Employee Stock Purchase Scheme (hereinafter referred to as �OBC-ESPS�) in one or more tranches, at such price or prices, and on such terms and conditions as may be decided by the Board/Committee in its absolute discretion (as detailed in the Notice of the EGM)MoreLess
    Special
    97.18% for2.82% against

    Against: promoters 0.00% · institutions 17.69% · other public 11.73%

    Turnout: all 91.84% · promoters 100.00% · institutions 88.22% · other public 0.03%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 29 Jun 2019, 4 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

  • To approve and adopt the Balance Sheet and Profit & Loss Account of the Bank for the year ended 31st March 2019, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors' Report on the Balance Sheet and AccountsMoreLess
    2 for0 against

    1 abstained

  • To create, issue, offer or allot by way of Qualified Institutional Placement, or by way of public issue, or any other method approved by GOI/RBI/SEBI as per the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, the Banking Regulation Act, 1949, the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980, OBC (Shares and Meetings) Regulations 1998, the SEBI ICDR Regulations, 2018 and all other guidelines issued by the RBI, SEBI and any other authority as applicable, such number of equity shares for an amount not exceeding Rs.3000 crore (including share premium), in such manner that the Central Government shall at all times hold not less than 52% of the paid-up equity capital of the Bank whether at a discount or premium to the market price (as detailed in the Notice of the AGM)MoreLess
    Against HDFC Mutual Fund
    • HDFC Mutual FundBank is well capitalized and there is no urgent need of capital. Thus, no need to dilute the stake below book value.
    2 for1 against

    1 abstained

1 proposal not matched to one resolution
  • Adoption of Financial Statements of the Company
    1 for0 against

Mutual fund votes, meeting of 22 Mar 2019, 4 fund houses

  • To create, offer, issue and allot requisite number of Equity Shares of face value of Rs. 10/- (Rupees Ten only) each to the Government of India (`GOI`) aggregating to Rs. 1186 Crore (Rupees One Thousand One Hundred Eighty Six Crore only) on preferential basis inclusive of premium for cash at an Issue Price to be determined in accordance with Regulation 164 of the SEBI (ICDR) Regulations 2018.MoreLess
    3 for0 against

    1 abstained

6 earlier meetings

Mutual fund votes, meeting of 7 Feb 2019, 2 fund houses

  • To create, offer, issue and allot 57,23,20,499 Equity Shares of the Bank of face value of Rs. 10/- (Rupees Ten only) each for cash at an Issue price (including premium) of Rs. 96.10 (Rupees Ninety Six and paise ten only) per equity share, as determined in accordance with Regulation 164(1) of SEBI ICDR Regulations aggregating upto Rs. 5500 crore (Five Thousand Five Hundred Crore Only) on preferential basis to Government of India (President of India) pursuant to the provisions of SEBI ICDR Regulations, the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1980 read with the Nationalized Banks (Management & Miscellaneous Provisions) Scheme, 1980 and other applicable laws/guidelines and subject to approval of Central Government, Reserve Bank of India, SEBI or any other authority as may be required in this regard.MoreLess
    1 for0 against

    1 abstained

Mutual fund votes, meeting of 21 Dec 2018, 4 fund houses

  • To create, grant, offer, issue and allot up to 5,00,00,000 (Five crore) new equity shares of face value of ?10/- (Rupees Ten only) each, ranking pari passu with the existing equity shares of the Bank for all purpose and in all respects, including payment of dividend, under Employee Stock Purchase Scheme (hereinafter referred to as �OBC-ESPS�) in one or more tranches, at such price or prices, and on such terms and conditions as may be decided by the Board/Committee in its absolute discretion (as detailed in the Notice of the EGM)MoreLess
    2 for0 against

    2 abstained

Mutual fund votes, meeting of 29 Jun 2018, 3 fund houses

  • Adoption of Financial Statements of the Company
    1 for0 against
  • Approval for further issue of capital of the Bank up to Rs. 3000 crs
    1 for0 against
  • Raising of capital during F.Y. 2018-19, amounting to Rs.3000 crore through issue of shares in the form of Follow on Public Offer (FPO)/ Rights Issue/ QIP.
    1 for0 against
  • To discuss, approve and adopt, the Balance Sheet of the Bank as at 31st March, 2018 and the Profit & Loss Account of the Bank for the year ended on that date, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors’ Report on the Balance Sheet and Accounts.MoreLess
    1 for0 against
  • To discuss, approve and adopt the Balance Sheet, Profit & Loss Account of the Bank as at and for the year ended 31st March, 2018, the Report of the Board of Directors on the working and activities of the Bank for the period covered by the Accounts and the Auditors' Report on the Balance Sheet and AccountsMoreLess
    0 for0 against

    1 abstained

  • To raise equity capital through QIP/ FPO/ Rights issue etc. aggregating to not more than Rs.3000 crore
    0 for0 against

    1 abstained

Mutual fund votes, meeting of 23 Jun 2018, 1 fund house

  • To obtain consent of the shareholders of the Bank to the Board of Directors of the Bank to create, offer, issue and allot equity shares/preference shares by way of Follow on Public offer, Rights Issue, Qualified Institutional Placement.MoreLess
    1 for0 against

Mutual fund votes, meeting of 15 Mar 2018, 2 fund houses

  • Approval for issue of Equity Shares on preferential basis to Government of India up to Rs. 3571 crores
    1 for0 against
  • To create, offer, issue and allot 28,65,97,110 Equity Shares of the Bank of face value of Rs.10/- (Rupees Ten only) each for cash at an Issue price (including premium) of Rs.124.60 (Rupees One Hundred Twenty Four & Paise Sixty only) per Equity Share as determined in accordance with Regulation 76(1)SEBI ICDR Regulations, aggregating upto Rs.3571.00 crore (Rupees Three Thousand Five Hundred and Seventy One Crore only) on preferential basis to Government of India (President of India).MoreLess
    1 for0 against

Mutual fund votes, meeting of 19 Sep 2017, 4 fund houses

  • Election of 3 directors from amongst the shareholders of the Bank - Shri Ashok Kumar Sharma, Shri Madan Mohan Lal Verma and Shri Desh Deepak Khetrapal
    1 for0 against
  • To Appoint Three Directors from amongst the Shareholders of the bank
    1 for0 against
  • To elect three Directors from amongst shareholders other than the Central Government pursuant to Section 9(3)(i) of the Act read with Scheme, Regulations made thereunder, RBI Notification and GOI GuidelinesMoreLess
    1 for0 against
  • To elect three Directors from amongst the shareholders of the Bank(other than the Central Government) in terms of Section 9(3) (i) of the Banking Companies (Acquisition and Transfer Undertakings) Act, 1980MoreLess
    0 for0 against

    1 abstained

Each fund house counted once, from its own disclosure; the reasons are its own words.