Tamilnad Mercantile Bank Limited (TMB) has announced the appointment of two new Additional Non-Executive Non-Independent Directors to its Board, subject to shareholder approval. The decision was made during a Board meeting held on November 19, 2025.

Key Appointments

The bank has appointed Thiru S.R. Aravind Kumar and Thiru R. Kodeeswaran for three-year terms, commencing from November 19, 2025. Both appointments are subject to shareholder approval.

Director Profiles

Thiru S.R. Aravind Kumar

• Background: Holds a degree in Engineering (B.E.) and an MBA specializing in Marketing
• Experience: Comes from a well-known business family with a strong background in IT and marketing
• Current Role: Manages dealership businesses of several well-known FMCG brands
• Previous Association: Served as a Director of TMB from November 2009 to October 2017

Thiru R. Kodeeswaran

• Education: Postgraduate in Commerce
• Business Association: Belongs to the business house VVD and Sons Private Limited, engaged in manufacturing and trading of FMCG products
• Expertise: Vast experience in managing diversified business portfolios and divisions, including shipping business
• Current Roles:
  • Director at VVD and Sons Private Limited, leading the export division
  • President of Indian Chamber of Commerce and Industry, Thoothukudi

Appointment Details

The bank has confirmed that neither of the appointed directors is related to any existing director of the bank, and they are not debarred from holding directorship positions by SEBI or any other authority.

These appointments are expected to bring valuable expertise to TMB's board, with Kumar's background in IT and marketing, and Kodeeswaran's experience in FMCG manufacturing and export business. The diverse skill sets of the new directors align with the bank's strategy to strengthen its governance and expand its business horizons.

Tamilnad Mercantile Bank (TMB), a prominent player in the Indian banking sector, has recently achieved a significant milestone in its corporate governance journey. The bank has received approval from the Reserve Bank of India (RBI) for proposed amendments to its Articles of Association (AOA) under the Banking Regulation Act, 1949.

Key Developments

• RBI Approval: TMB received the RBI's approval on November 7, 2025, for the proposed amendments to its AOA.
• Shareholder Approval: The bank will seek shareholder approval for these amendments through a postal ballot process.
• Regulatory Compliance: This move aligns with the applicable provisions of the Banking Regulation Act, 1949.

Significance of the Amendments

The approval for amendments to the Articles of Association is a crucial step for TMB, potentially impacting its governance structure and operational framework. While the specific details of the amendments have not been disclosed, such changes often aim to enhance corporate governance practices, streamline decision-making processes, or align the bank's operations with evolving regulatory requirements.

Next Steps

TMB has outlined its plan to conduct a postal ballot to secure shareholder approval for the proposed amendments. This process ensures that shareholders have a say in these significant changes to the bank's foundational document.

Additional Corporate Activities

In addition to this significant development, TMB has also scheduled several investor interactions:

These meetings underscore TMB's commitment to maintaining open lines of communication with its investors and stakeholders.

The bank has emphasized that no Unpublished Price Sensitive Information (UPSI) or material information will be shared during these conferences or meetings, adhering to regulatory guidelines on fair disclosure.

As Tamilnad Mercantile Bank moves forward with these corporate actions, stakeholders will be keenly watching how these changes might influence the bank's future strategies and operations in the competitive Indian banking landscape.