Karnataka Bank gets two additional directors

Private lender Karnataka Bank Ltd has appointed Justice A V Chandrashekar and Pradeep Kumar Panja as additional directors at its board meeting held recently.

Justice A V Chandrashekar is a former judge of the High Court of Karnataka and also a former judicial member of Karnataka State Administrative Tribunal (KSAT).

He began his career as a practising advocate in the year 1984, and during the early part of his judicial career, he worked as Additional District and Sessions Judge and Principal District and Sessions Judge in several districts of Karnataka.

Pradeep Kumar Panja is a career banker and retired as Managing Director (Corporate Banking) of State Bank of India (SBI) in October 2015.

Currently, he is a member on the board of directors of companies engaged in the business of real estate, asset reconstruction, software business, cement etc.

Commenting on their appointment, Mahabaleshwara M S, Managing Director and CEO said, “With their induction, now 72% of the board consists of independent directors, as against the minimum requirement of 33.33% which reflects the importance given by the bank towards ensuring the highest level of corporate governance.”