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4 Independent Directors of SBI to be Elected by the Stockholders
May 09, 2017
The public stockholders of SBI are going to appoint four independent directors for the country’s largest lender who will be taking their position on June 15. This change was necessary as the three-year-term of three current directors viz. MD Mallya, Sanjiv Malhotra, and Deepak Amin are to expire, and a fourth director Sunil Mehta has also resigned.
The four new directors will be appointed for a term of three years, i.e. until 2020. The appointment of these will be done at the nextmeeting of the stockholders i.e. June 15. Any stockholder who has more than 5,000 shares of the company can contest the election.
