TAMILNAD MERCANTILE BANK LIMITED has informed the Exchange about Resignation of Independent director.
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Tamilnad Mercantile Bank has informed the stock exchanges about the resignation of Shri B. Prabaharan (DIN: 00209875) from the position of Non-Executive Independent Director. He tendered his resignation via email on June 9, 2025, citing pre-occupations and other personal commitments, and the resignation takes effect from the close of business hours on June 11, 2025. The director has confirmed there are no other material reasons behind his departure. He does not hold directorships in any other listed entity and has no committee memberships disclosed.
This is a routine independent director exit due to personal reasons with no governance red flags, so it is unlikely to have a meaningful impact on the stock price. Shareholders should watch for the bank to announce a replacement to maintain the required board composition.