 "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
Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.'%3E%3Cg id='Artboard-Copy' transform='translate(0 0.012)'%3E%3Cg id='_126115' transform='translate(0 0)'%3E%3Cpath id='Path' d='M17.537 1.487a.473.473 0 0 0-.467.477v12.67A2.4 2.4 0 0 1 14.7 17.06H3.3A2.4 2.4 0 0 1 .933 14.634V.966H14.587v12.29a.467.467 0 0 0 .933 0V.489a.473.473 0 0 0-.467-.477H.467A.473.473 0 0 0 0 .489V14.63a3.346 3.346 0 0 0 3.3 3.382H14.7A3.346 3.346 0 0 0 18 14.63V1.965a.467.467 0 0 0-.462-.478Z' transform='translate(0 -0.012)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-2' d='M12.676 3.955a.478.478 0 1 0 0-.955H2.508a.478.478 0 1 0 0 .955Z' transform='translate(0.124 0.166)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-3' d='M12.676 13H2.508a.478.478 0 1 0 0 .955H12.672a.478.478 0 1 0 0-.955Z' transform='translate(0.124 0.768)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Shape' d='M2 6v5.371a.484.484 0 0 0 .467.5H7.531a.484.484 0 0 0 .467-.5V6a.484.484 0 0 0-.467-.5H2.467A.484.484 0 0 0 2 6Zm.933.5H7.066v4.375H2.933Z' transform='translate(0.122 0.317)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-4' d='M12.321 5.5H8.967a.478.478 0 1 0 0 .955h3.354a.478.478 0 1 0 0-.955Z' transform='translate(0.517 0.317)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-5' d='M12.321 8H8.967a.478.478 0 1 0 0 .955h3.354a.478.478 0 1 0 0-.955Z' transform='translate(0.517 0.467)' fill='%23c4132a'%3E%3C/path%3E%3Cpath id='Path-6' d='M12.788 10.977a.473.473 0 0 0-.467-.477H8.967a.478.478 0 1 0 0 .955h3.354a.471.471 0 0 0 .467-.478Z' transform='translate(0.517 0.617)' fill='%23c4132a'%3E%3C/path%3E%3C/g%3E%3C/g%3E%3C/g%3E%3C/svg%3E)
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.