Tamilnad Mercantile Bank Limited has informed about the General Updates on the penalty imposed by the Stock Exchanges
TMB · price
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Awaiting price reaction for this filing.
Tamilnad Mercantile Bank informed exchanges about a Rs. 25,000 fine (plus GST) imposed by both BSE and NSE for non-compliance of Regulation 17(1) of SEBI Listing Regulations during a brief period from March 27 to March 31, 2025. The bank has filed a waiver application, arguing it was actually in compliance since no Board or Committee meetings were held and no major decisions were taken during that period. The Board, at its meeting on June 12, 2025, took note of the fine and directed management to pursue a waiver with the stock exchanges. The penalty amount is very small (Rs. 25,000 per exchange) and relates to a short technical non-compliance window.
Minimal impact for shareholders — the fine is nominal in size and the bank is actively contesting it on the grounds of actual compliance. Unlikely to affect stock price or operations meaningfully.