Tamilnad Mercantile Bank Limited has submitted the Exchange a copy Scrutinizer's report of Postal Ballot
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Tamilnad Mercantile Bank has announced the results of a postal ballot conducted between October 1 and October 30, 2025. Shareholders approved the appointment of Thiru K. Ramachandran (DIN: 08589628), an existing Independent Director, as the Non-Executive (Part-Time) Chairman of the Bank. The appointment carries a remuneration of Rs. 18 lakh per annum, paid monthly at Rs. 1.5 lakh. Of the 33.77 lakh equity shares validly voted, 33.72 lakh (99.84%) were in favor and only 52,426 shares (0.16%) were against. The resolution was passed as an Ordinary Resolution, and the promoter group had no interest in the matter. Voting rights of certain shareholders were capped at 4.99% per an RBI order related to parties acting in concert.
This is a routine governance update with strong shareholder support (over 99.8% in favor), confirming leadership continuity at the Bank. No material financial or strategic impact is expected for shareholders, as the appointment was widely endorsed.