Karnataka Bank Ltd has appointed Dr. M Aruna Shyam as Additional Director (Non-Executive, Independent) of the bank for a period of four years, with effect from July 18, 2026. According to company policy and regulatory requirements, the appointment is contingent upon receiving shareholder approval in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013. This strategic addition to the bank's board brings extensive legal expertise to support the institution's governance framework and aligns with Karnataka Bank's efforts to strengthen its leadership team with individuals well-versed in legal intricacies, vital for navigating the complex regulatory environment of the financial industry.
Aruna Shyam holds a postgraduate degree in Business Law and a doctorate in Law (Constitution and Criminal Law). Since 2004, he has been actively practising law, offering his expertise across various judicial forums including Civil Courts, the National Company Law Tribunal, Debt Recovery Tribunals, the High Court of Karnataka, and the Supreme Court of India. His legal acumen spans multiple branches of law, such as Civil, Criminal, Constitutional, Co-operative, Corporate, Banking, Labour, Insurance, and Service Laws. This extensive experience of more than two decades across diverse legal branches positions him as a valuable addition to the bank's governance structure.
According to the bank's statement, Shyam served as the Additional Advocate General for Karnataka from 2020 to 2023, representing the State in several important constitutional, statutory and public law matters before the High Court and other judicial forums. During this period, he represented the state in several key constitutional and statutory matters, demonstrating his capability to handle significant legal cases and providing him with substantial experience in representing state interests in complex legal proceedings.
As reported by The Hindu BusinessLine, Shyam was designated as a Senior Advocate by the High Court of Karnataka on December 14, 2021. In his capacity as Senior Advocate, he has been appearing before various High Courts and other Courts across the country, advising and representing clients in complex and high-stake litigations. This designation reflects his expertise and standing in the legal profession, enabling him to handle high-stake litigations across various courts in India and providing the bank with access to specialized legal expertise. The appointment of Dr M Aruna Shyam as a non-executive (Independent) director further strengthens the Bank's Board with his extensive legal expertise and rich professional experience.
