Tamilnad Mercantile Bank Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot
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Awaiting price reaction for this filing.
Tamilnad Mercantile Bank has completed its postal ballot process conducted through remote e-voting from November 29, 2025 to December 28, 2025. Three resolutions were put to shareholders, all of which were passed with the required majority. The appointment of Thiru. S.R. Aravind Kumar as a Non-Executive Non-Independent Director was approved with 96.94% of votes in favour, while the appointment of Thiru. R. Kodeeswaran in a similar role received 87.62% support. Additionally, a special resolution to alter the Bank's Articles of Association was passed with overwhelming support of 99.96%. The voting rights of certain shareholders classified as 'persons acting in concert' by the RBI were restricted to 4.99% as per banking regulations.
Shareholders have approved the induction of two new non-executive directors and changes to the Bank's Articles of Association. The high approval margins suggest strong shareholder confidence, though this is largely a procedural corporate governance update with no immediate material impact on the stock price.