Tamilnad Mercantile Bank Limited has informed the Exchange regarding Notice of Postal Ballot
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Tamilnad Mercantile Bank has issued a Postal Ballot Notice seeking shareholder approval for the appointment of Thiru. K. Ramachandran (DIN:08589628) as Non-Executive (Part-Time) Chairman of the Bank. His term runs from August 14, 2025 to June 11, 2028, with a fixed remuneration of Rs. 18 lakh per annum (Rs. 1.50 lakh per month), in addition to sitting fees for board and committee meetings. The Reserve Bank of India has already approved this appointment. E-voting opens on October 1, 2025 at 9:00 AM and closes on October 30, 2025 at 5:00 PM, with the cut-off date for eligibility set as September 25, 2025. Results will be announced on or before November 1, 2025, and the resolution will be passed as an Ordinary Resolution.
This is a routine corporate governance step required under SEBI listing rules since the chairman's remuneration needs shareholder approval. The appointment has already cleared RBI and the Board, and the pay package is modest, so the stock impact is likely limited. Shareholders should cast their e-vote through NSDL before the October 30 deadline.