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Board Meetings Procedure

 

1  Scheduling and selection of agenda items for board meetings:
 Dates of the board meetings are decided in advance. The board meetings are convened     by giving appropriate notice after obtaining the approval of the Chairman and the Executive Vice-Chairman and Managing Director. The Board meets at least once a quarter to review the results and other items on the agenda and also on the occasion of the annual shareholders’ meeting. When necessary, additional meetings are held.
 
2  The agenda of the board meetings is drafted by the Company Secretary along with the explanatory notes and these are distributed in advance to the Directors. Every Board member is free to suggest the inclusion of items on the agenda. All divisions/departments in the Bank are encouraged to plan their functions well in advance, particularly with regard to matters requiring discussion/approval/decision in the Board/Committee meetings.
 
3  All such matters are communicated to the Company Secretary in advance so that the same could be included in the agenda for the board meetings.
 
4  The agenda papers are prepared by the concerned officials of the respective department and are approved by the Executive Director/s and/or Executive Vice-Chairman and Managing Director. Agenda papers are circulated to the Board by the Company Secretary. Additional items on the agenda are permitted with the permission of the Chairman.
 
5  To address specific urgent need, meetings are also convened at short notice. The Board also passes resolution by Circulation on need basis.
 
6  Minutes of the proceedings of the Board meeting are prepared within 48 hours of the meeting as per the requirement laid down by the Reserve Bank of India. Draft minutes are circulated to the Chairman for his comments. The minutes of all the Committees of the Board of Directors of the Bank and the minutes of the meetings of the Board of Directors of the subsidiary companies of the Bank are placed before the Board.
 
7  The quarterly, half-yearly and the annual results for the consolidated entity and for the Bank stand alone are first placed before the Audit Committee of the Bank and thereafter the same are placed before the Board of Directors.
 
8  A Compliance Certificate, signed by the Executive Vice-Chairman and Managing Director in respect of various laws, rules and regulations applicable to the Bank is placed before the Board, every quarter.
 
9  The Bank has put in place a post meeting follow-up, review and reporting process for the action taken on decisions of the Board. The Company Secretary submits follow-up Action Taken Report to the Board at each meeting on the compliance of the decisions/instructions of the Board.
 

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Kotak Mahindra Bank Ltd. - FY14 results on April 30, 2014