Meeting Details

The 104th Annual General Meeting was held through Video Conferencing/Other Audio-Visual Means on Tuesday, July 14, 2026, from 11:00 A.M. IST to 01:20 P.M. IST. The meeting was conducted without physical presence of members in accordance with MCA Circulars and SEBI guidelines.

Legal Context

The AGM was convened pursuant to an order passed by the Hon'ble High Court of Madras dated April 22, 2022, in Writ Miscellaneous Petition No. 16962 and 14886 of 2021 and 9903 of 2022, in Writ Petition No.35212 of 2019, which permitted the Bank to conduct AGMs following MCA guidelines.

Voting Process and Methods

The remote e-voting commenced on Saturday, July 11, 2026, at 09:00 A.M. IST and ended on Monday, July 13, 2026, at 05:00 P.M. IST through CDSL's e-voting platform. Members who had not voted remotely were allowed to vote during the AGM through e-voting system.

Voting Outcomes

All six resolutions were passed with requisite majority:

Resolution No. 1: Adoption of Financial Statements

  • Ordinary Resolution
  • Total votes cast: 73,263,850
  • Votes in favor: 73,251,946 (99.984%)
  • Votes against: 11,904 (0.016%)
  • 676 members voted

Resolution No. 2: Re-appointment of K. V. Rama Moorthy

  • Ordinary Resolution
  • Total votes cast: 73,441,099
  • Votes in favor: 72,942,244 (99.321%)
  • Votes against: 498,855 (0.679%)
  • 682 members voted

Resolution No. 3: Final Dividend Approval

  • Ordinary Resolution
  • Total votes cast: 73,441,099
  • Votes in favor: 73,437,733 (99.995%)
  • Votes against: 3,366 (0.005%)
  • 677 members voted

Resolution No. 4: Re-appointment of Joint Statutory Auditors

  • Ordinary Resolution
  • Total votes cast: 73,441,099
  • Votes in favor: 72,622,042 (98.885%)
  • Votes against: 819,057 (1.115%)
  • 678 members voted
  • Auditors: M/s. Sundaram & Srinivasan (FRN: 004207S) and M/s. Chandran & Raman (FRN: 000571S)

Resolution No. 5: Appointment of Branch Auditors

  • Ordinary Resolution
  • Total votes cast: 73,441,099
  • Votes in favor: 73,434,952 (99.992%)
  • Votes against: 6,147 (0.008%)
  • 678 members voted

Resolution No. 6: Re-appointment of C. Chiranjeeviraj

  • Special Resolution
  • Total votes cast: 73,441,099
  • Votes in favor: 71,095,911 (96.807%)
  • Votes against: 2,345,188 (3.193%)
  • 680 members voted

Shareholder Participation

  • Total shareholders as of record date (July 7, 2026): 123,309
  • Shareholders attending via VC/OAVM: 223 (all public, no promoters)
  • The Bank has no promoters

RBI Voting Restrictions

The Reserve Bank of India directive restricted voting rights of four shareholders identified as "persons acting in concert" to 4.99% of total voting rights despite holding 6.19% of paid-up capital:

  • FI Investments (Mauritius) Limited: 2,704,899 shares
  • Cuna Group (Mauritius) Limited: 1,014,525 shares
  • Swiss Re-Investors (Mauritius) Limited: 5,072,124 shares
  • Total holdings: 9,806,073 shares (6.19%)
  • Voting rights restricted to: 7,901,738 shares (4.99%)
  • Invalidated votes: 1,904,335 shares (1.20%)

Additional Legal Consideration

The Hon'ble High Court of Bombay order dated January 4, 2018 (Notice of Motion No. 1423 of 2017 in Suit No. 988 of 2011) prevents Starship Equity Holding Ltd. from claiming benefits or exercising rights on bonus shares.

Scrutinizer Details

Mr. D. Saravanan, Practising Company Secretary (COP No.22608) of Alagar & Associates LLP was appointed as scrutinizer. The scrutinizer confirmed the voting process was conducted fairly and transparently.

Compliance Confirmation

The Bank confirmed compliance with Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and Administration) Rules, 2014, and Regulation 44 of SEBI LODR Regulations.

Document Hosting

The voting results and scrutinizer's report are hosted on the Bank's website (www.tmb.bank.in) and CDSL's website (www.evotingindia.com).