 "Madras High Court")
The Madras High Court (HC) has revealed that Tamilnad Mercantile Bank’s (TMB) initial public offering (IPO) resolution has been passed, including the election of its directors. All the resolutions — submitted to the court in a sealed cover — were passed with more than one third of the votes polled.
The bank has, since 2016, been seeking the nod of its shareholders, who are largely from the Nadar community, to go public, but a majority has been rejecting the proposal.
At the 93rd annual general meeting (AGM) held in 2016, when the proposal for an IPO was placed
The bank has, since 2016, been seeking the nod of its shareholders, who are largely from the Nadar community, to go public, but a majority has been rejecting the proposal.
At the 93rd annual general meeting (AGM) held in 2016, when the proposal for an IPO was placed
