A. K. Capital Services Limited announced that Mr. Subhash Chandra Bhargava (DIN: 00020021), shall retire from the position of Chairman and shall cease to be an Independent Director of the Company due to the completion of his second term of office as an Independent Director of the Company w.e.f. March 31, 2024 as per the provisions of Section 149 (11) of the Companies Act, 2013. Further, Mr. Rajiv Bakshi (DIN: 00264007), Non-Executive Independent Director of the Company shall chair all the subsequent meetings of the Board conducted on or after April 1, 2024 up to August 4, 2026. Mr. Rajiv Bakshi, aged 71 years is a professional banker with over 37 years rich experience of Banking operations with a thorough knowledge of process flow, International Banking, Treasury, Large Corporate Credit & Risk Management and Business Process Reengineering.

A new foray of the Bank into life Insurance business with the setting up of a Joint Venture Life Insurance Company in collaboration with Daiichi Mutual Life of Japan and Union Bank of India. He was an Executive Director of Bank of Baroda handling the important functions of Large credit, International Banking, Treasury, Information Technology, Audit & Business Process Re-engineering and represented the bank on its Kenya & Tanzania subsidiaries as Chairman of their respective Boards, as well as Director on the Zambian Joint Venture. Since October 2019 up to January 2022 he served as member of the Expert Committee appointed by RBI to assist the Administrator of Punjab & Maharashtra Co-op Bank Ltd. and serving as Consultant to a Small Finance Bank.