Tamilnad Mercantile Bank seeks shareholder nod for director appointments, AOA changes

Tamilnad Mercantile Bank Limited has announced a postal ballot to seek shareholder approval for the appointment of two non-executive non-independent directors and an alteration to its Articles of Association. The e-voting period for these resolutions will commence on Saturday, November 29, 2025, at 9:00 A.M. IST and conclude on Sunday, December 28, 2025, at 5:00 P.M. IST.

The appointments include S.R. Aravind Kumar and R. Kodeeswaran, both proposed for three-year terms from November 19, 2025, to November 18, 2028. S.R. Aravind Kumar holds 443,385 shares, while R. Kodeeswaran holds 39,567 shares in the bank as of October 31, 2025. Both appointments are classified as Ordinary Resolutions.

Additionally, the bank seeks approval for alterations to its Articles of Association, proposed as a Special Resolution. This amendment aims to align the existing articles with current regulatory and statutory provisions, including revisions to director age limits (from 70 to 75 years for general directors, maintaining 70 for whole-time directors) and methods for serving notices. The Reserve Bank of India granted its approval for these AOA amendments on November 07, 2025.