Money & Banking

TMB's AGMs slated for January 29

L N Revathy Coimbatore | Updated on January 22, 2018

Tamilnad  Mercantile Bank is preparing to hold its Annual General Meetings on January 29, after a gap of five years.

The bank held its 87th AGM on January 6, 2010.

The 88th AGM, scheduled on June 15, the following year could not be convened as the same was injuncted by an Order of the Madras High Court in 2011.

The High Court, by an order dated June 26, 2015, vacated the said injunction and directed the bank to convene and hold all the six AGMs (88 to 93) on a single day within 70 days from the date of the order.

The aggrieved writ petitioner sought interim orders restraining the convening of the AGM pending the disposal of the appeal.

With the Court refusing to grant injunction, the bank is now preparing itself to complete the process of the said meetings and hold the same on January 29, 2016, the bank said in a release

Published on December 22, 2015

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