The shareholders of Axis Bank Limited had approved the resolution regarding appointment of Ashish Kotecha (DIN: 02384614) as a Non-Executive (Nominee of entities affiliated to Bain Capital) Director of the Bank, with effect from December 19, 2021 upto expiry of three (3) years i.e. upto December 18, 2024 or till the time BC Asia Investments VII Limited, Integral Investments South Asia IV and BC Asia Investments III Limited ("the entities affiliated to Bain Capital") are directly holding in the aggregate at least two percent (2%) of the equity share capital of the Bank on a fully diluted basis, whichever is earlier. Consequently, Ashish Kotecha (DIN: 02384614), Non-Executive (Nominee of entities affiliated to Bain Capital) Director of the Bank has ceased to be a member of the Board of Directors of the Bank, with effect from the close of business hours of December 14, 2023.