Tamilnad Mercantile Bank Limited has submitted the Exchange a copy Srutinizers report of the 103rd Annual General Meeting held on August 08, 2025
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Tamilnad Mercantile Bank Limited held its 103rd Annual General Meeting on August 8, 2025, via video conferencing from 10:00 AM to 12:07 PM IST, and all seven resolutions were passed with overwhelming majority. Key resolutions included adoption of the audited financial statements for FY2024-25 (99.995% in favor), declaration of the final dividend (99.993% in favor), re-appointment of Shri. A. Niranjan Sankar as a Non-Executive Director (97.945% in favor), and the appointment of Shri. K. Ramachandran as Independent Director through a special resolution (99.944% in favor). Re-appointments/appointments of joint statutory central auditors, branch auditors, and secretarial auditors were also approved with over 99.9% support. Out of 1,30,962 shareholders on record, 153 attended through VC, and roughly 45.5% of outstanding shares were polled. Voting rights of four shareholders acting in concert (holding 6.19% of paid-up capital) were capped at 4.99% per RBI norms, with the excess treated as invalid.
The near-unanimous approval across all resolutions reflects strong shareholder confidence in the bank's board and management. Shareholders can expect the approved final dividend for FY2024-25, and governance continuity is maintained through the re-appointments and new Independent Director appointment.