Tamilnad Mercantile Bank has informed that the Board of Directors of Tamilnad Mercantile Bank at its meeting held today i.e., July 09, 2024, on the basis of recommendation of the Nomination and Remuneration Committee of the Board, has approved the appointment K.V.Rama Moorthy (DIN- 07034994) as Additional Director on the Board of the Bank, with effect from July 09, 2024, in the capacity of a Non-Executive Director, liable to retire by rotation, subject to the approval of the shareholders at the ensuing AGM of the Bank and the appointment of R.Deepak Shankar (DIN-05223027) as Additional Director on the Board of the Bank for a period of three consecutive years, with effect from July 09, 2024, in the capacity of Independent Director, subject to the approval of the shareholders at the ensuing AGM of the Bank. In terms of Section 149(13) of the Companies Act, 2013, he shall not be liable to retire by rotation during his tenure as an independent director of the Bank. Brief profile of K.V.Rama Moorthy and R.Deepak Shankar is enclosed as Annexure - A. K.V.Rama Moorthy and R.Deepak Shankar are not related to any other Director of the Bank. Further, they are not debarred/disqualified from office of the Director by virtue of any order of the Securities and Exchange Board of India or any other such authority. The Board meeting commenced at 10.00 am IST and concluded at 2.50 pm IST.
The above information is a part of company’s filings submitted to BSE.
