Indian Bank has informed that in exercise of the powers conferred by clause (a) of Sub-Section (3) of Section 9 of The Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970 / 1980, read with sub-clause (1) of Clause 3 and sub-clause (1) of Clause 8 of The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970 / 1980, the Central Government has, vide Notification dated March 27, 2015, extended the tenure of T. M. Bhasin, Chairman and Managing Director, Indian Bank beyond his approved term of 5 years which is coming to an end on March 31, 2015, as MD & CEO, Indian Bank upto May 31, 2016 i.e. the date of his attaining the age of superannuation, or until further order, whichever is earlier.
The above information is a part of company’s filings submitted to BSE.
