KV Mugundan, a shareholder of Tamilnad Mercantile Bank (TMB), has filed an appeal to the Madras High Court to direct the Reserve Bank of India (RBI) to immediately clear any one of the names from the panel for appointment of MD & CEO of TMB.S Krishnan resigned as Managing Director and Chief Executive Officer (MD & CEO) of the bank on September 28, 2023. The Thoothukudi-based TMB sent the names to the RBI on November 22, says the petition, a copy of which is available with businessline.“Notice has been ordered by the court; returnable by April 23,” TV Lakshman, the counsel for the petitioner, told businessline.The petitioner has also urged the court to grant an interim order directing…
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TMB shareholder appeals Madras HC to direct RBI to give nod for new MD appointment
