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IDBI Ltd. is a Board-managed institution. The responsibility of the day-to-day management of operations of the Bank is vested with the Chairman, who draws upon the support and expertise of a Top Management Team, comprising Executive Directors and a Legal Adviser. IDBI Ltd.has a pool of around 1400 competent and experienced professionals. The Bank, with its Head Office at Mumbai, operates through a network of five Zonal Offices (Chennai, Guwahati, Kolkata, Mumbai and New Delhi) and Branch Offices spread across the country. The Board of Directors of IDBI Ltd., at its meeting held on January 20, 2005, approved the Scheme of Amalgamation, envisaging merging of IDBI Bank Ltd. with IDBI Ltd. Pursuant to the scheme approved by the Boards of both the banks, IDBI Ltd. will issue 100 equity shares for 142 equity shares held by shareholders in IDBI Bank Ltd. EGM has been convened on February 23, 2005 for seeking shareholder approval for the scheme.
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