Notice of 102nd AGM to the members of Tamilnad Mercantile Bank Ltd. - 27th September, 2024

02 September 2024

NOTICE is hereby given that the 102nd Annual General Meeting (AGM) of the Members of M/s. Tamilnad Mercantile Bank Limited (CIN: L65110TN1921PLC001908) will be held on Friday, the 27th of September, 2024 at 10:00 AM IST through Video Conferencing (“VC”) / Other Audio-Visual Means (“OAVM”) to transact the following businesses:

Ordinary Business:

• ​To adopt the Audited Financial Statements, Board’s Report, and Auditor’s Report for FY24.
  
• To re-appoint Shri. S.R. Ashok (DIN:07933713) as a Non-Executive Director who retires by rotation and being eligible offers himself for re-appointment.
  
• To approve and declare the final dividend for FY24.
  

​This is to inform you that the Board of Directors has recommended a dividend of Rs. 10.00 per fully paid-up equity share for FY24.

• ​To appoint M/s. Sundaram & Srinivasan, Chartered Accountants, Chennai (Firm Registration No. 004207S) and M/s. Chandran & Raman, Chartered Accountants, Chennai (Firm Registration No. 000571S) as Joint Statutory Central Auditors of the Bank and fix their remunerations.
  

​Under relevant provisions, M/s. Sundaram & Srinivasan, Chartered Accountants, Chennai (Firm Registration No. 004207S) and M/s. Chandran & Raman, Chartered Accountants, Chennai (Firm Registration No. 000571S), are re-appointed as the Joint Statutory Central Auditors of the Bank for FY24-25. Their term extends from the conclusion of this 102nd Annual General Meeting until the conclusion of the 103rd Annual General Meeting of the Bank, for a total remuneration of ₹24,00,000/- each and reimbursement of other out-of-pocket expenses.

Special Business:

• ​To appoint Branch Auditors of the Bank and fix their remuneration.
• Appointment of Shri.Salee Sukumaran Nair (DIN: 09231101) as Managing Director and Chief Executive Officer of the Bank and approval of Remuneration.
  
• To appoint Shri. K.V. Rama Moorthy (DIN: 07034994) as a Non-Executive Director of the Bank.
  
• To appoint Shri. R. Deepak Shankar (DIN: 05223027) as an Independent Director of the Bank.
  
• To appoint Smt. R. Kanagavalli (DIN: 00883998) as an Independent Director of the Bank.