Tamilnad Mercantile Bank has informed that the Provisional Attachment Order No. 07/2022 dated 23.12.2022 passed by the Deputy Director, Enforcement Directorate, Chennai against MGM Maran, Former Non-Executive Part Time Chairman of the Bank on his movable properties (shares) was subsequently confirmed by the Hon'ble Adjudicating authority, vide Order dated 14.06.2023. The Directorate of Enforcement, vide Ref.No.F.No.ECIR/CEZO-II/26/2022 dated 16.11.2023, has ordered for transfer of movable properties (shares) of Mr.MGM Maran, Former Non-Executive Part Time Chairman of the Bank, including his 52,39,959 equity shares (3.31%) held in Bank, in favour of the Director of Enforcement. The said Order does not have any impact on the financial position of the Bank.
The above information is a part of company’s filings submitted to BSE.
