Tamilnad Mercantile Bank Limited announced that its Board of Directors has approved the extension of Chief Risk Officer Thiru. Laxman Karkala Kudva's service period for an additional year. The decision was made during the board meeting held on March 24, 2026, ensuring continuity in the bank's risk management leadership.

Extension Details and Timeline

The board approved extending Kudva's tenure as Executive Vice President and Chief Risk Officer for one more year, effective from August 12, 2026 to August 11, 2027. His current appointment, which began on August 12, 2024, was originally scheduled to conclude on August 11, 2026.

Regulatory Compliance

The extension decision aligns with regulatory requirements set by the Reserve Bank of India. The bank stated that the extension complies with the Master Direction issued by RBI on Governance – RBI/DOR/2025-26/149 DOR.HGG.GOV.No.68/29.67.001/2025-26 dated November 28, 2025. This ensures the bank maintains appropriate governance standards in its risk management function.

Professional Background

Thiru. Laxman Karkala Kudva brings extensive banking experience to his role at Tamilnad Mercantile Bank. His professional credentials include:

• Bachelor's degree in Science (B.Sc.)
• Certified Associate of the Indian Institute of Banking and Finance (CAIIB)
• 40 years of banking career experience
• 14 years of experience in executive cadre
• 16 years specializing in Risk Management

Kudva began his banking journey in 1986, working with erstwhile Corporation Bank and subsequently with Union Bank of India. Throughout his career, he has headed various branches and administrative offices, gaining comprehensive experience across different banking operations.

Board Meeting Information

The board meeting that approved this extension commenced at 10:30 a.m. IST and concluded at 07:20 p.m. IST on March 24, 2026. The bank has communicated this decision to both the National Stock Exchange of India Limited and BSE Limited, fulfilling its disclosure obligations under SEBI regulations.

The extension ensures stability in the bank's risk management framework while maintaining compliance with regulatory guidelines for senior management appointments in the banking sector.

Tamilnad Mercantile Bank Limited has issued a comprehensive notice to shareholders regarding the mandatory transfer of unclaimed dividend shares to the Investor Education and Protection Fund (IEPF). The bank published advertisements in Business Line (English edition) and The Hindu (Tamil edition) on March 20, 2026, fulfilling regulatory disclosure requirements under SEBI Listing Regulations.

Regulatory Compliance and Transfer Requirements

Pursuant to Section 124(6) of the Companies Act, 2013, and the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, the bank must transfer shares with unpaid or unclaimed dividends for seven consecutive years to the IEPF Authority. The transfer process affects shareholders who have not encashed dividends declared for Financial Year 2018-19 and subsequent dividend declarations.

Shareholder Action Requirements

The bank has sent individual communications to affected shareholders and published a comprehensive list on its website at https://www.tmb.bank.in/pages/Investor-Education-and-protection-fund . Shareholders must submit requisite documents to the bank's Registrar and Transfer Agent before July 6, 2026, to prevent automatic transfer of their shares.

Key Contact Information:

• RTA: M/s. MUFG Intime India Private Limited (Formerly Link Intime India Private Limited)
• Address: Surya 35, Mayflower Avenue, Behind Senthil Nagar, Sowripalayam Road, Coimbatore – 641 028
• Phone: 0422 – 2314792, 4958995, 2539835
• Email: investor.helpdesk@in.mpmfs.mufg.com

Transfer Process and Implications

The transfer process varies based on shareholding format. For physical shareholdings, the bank will issue duplicate share certificates for IEPF transfer while original certificates become non-negotiable. For electronic holdings, the demat account will be debited for shares liable for transfer.

Recovery Mechanism for Transferred Assets

Once shares transfer to IEPF Authority, shareholders can reclaim them only through the IEPF Authority by filing E-Form IEPF-5 with necessary documents on the Ministry of Corporate Affairs website ( www.mca.gov.in ). The bank will not bear liability for shares or dividends transferred under regulatory compliance.

Corporate Communication Details

Company Secretary Swapnil Yelgaonkar signed the official communication to stock exchanges, confirming publication of the mandatory notice. The bank maintains its registered office at 57, V.E. Road, Thoothukudi – 628 002, with CIN: L65110TN1921PLC001908. Shareholders requiring clarifications can contact the bank's secretarial section at secretarial@tmbank.in or the designated RTA for immediate assistance.