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MERCANTILE BANK LIMITED2024-04-012025-03-31Yearly2025-03-31EquitytruetruefalseNOT APPLICABLEtruetruefalseNOT APPLICABLEtrueTop 1000 listed entitiestruecomt00570Original1) As per Reg.36 AB(3) of Banking Regulation ACT, the Add.Director appointed by RBI shall not be reckoned for any proposition of the total number of Directors of the Banking Company. This section shall have effect notwithstanding anything to the contrary in the Companies Act or any other law for the time being in force. As such our total number of Directors is 14 including 2 RBI Nominee Directors(S.No.13,14). These 2 RBI Nominee Directors should not be taken into account for any calculation on composition. 2) Smt.S.Ezhil Jothi (DIN - 07772888) ceased to be a Non Executive Independent Director of the Bank with effect from the close of business hours as on March 26, 2025. falsefalseMrSalee Sukumaran Nair09231101Executive DirectorNot ApplicableCEO-MD1964-05-30falseNA2024-08-291010MrVincent Menachery DevassyACQPD5597B09850306Executive DirectorNot Applicable1964-05-10falseNA2024-09-271010MrNiranjan Sankar A00084014Non-Executive - Non Independent DirectorNot Applicable1974-05-03falseNA2020-10-281011MrAshok S RACKPA0287D07933713Non-Executive - Non Independent DirectorNot Applicable1962-07-24falseNA2017-10-281010MrNirranjan Kani D N00455352Non-Executive - Non Independent DirectorNot Applicable1960-03-14falseNA2017-10-281010MrRama Moorthy K VAIJPK9969M07034994Non-Executive - Non Independent DirectorNot Applicable1959-01-12falseNA2024-07-091000MrPrabaharan B00209875Non-Executive - Independent DirectorNot Applicable1955-07-08falseNA2021-08-032021-08-0343.281100MrChiranjeevi Raj CADOPC8473E08730382Non-Executive - Independent DirectorNot Applicable1976-03-20falseNA2021-07-162021-07-1644.151121MrSridharan S07205781Non-Executive - Independent DirectorChairperson1955-12-16falseNA2024-02-272024-02-2713.041100MrDeepak Shankar RAEKPD9696R05223027Non-Executive - Independent DirectorNot Applicable1981-11-28falseNA2024-07-092024-07-098.221120MrsKanagavalli R00883998Non-Executive - Independent DirectorNot Applicable1969-02-22falseNA2024-07-092024-07-098.221110MrRam Kumar C SACEPR1053Q09777115Non-Executive - Nominee DirectorNot Applicable1966-05-20falseNA2022-10-041010MrThomas Mathew10642487Non-Executive - Nominee DirectorNot Applicable1965-11-13falseNA2024-04-121010MrsEzhil Jothi SAALPE4723F07772888Non-Executive - Independent DirectorNot Applicable1978-06-21falseNA2021-07-162021-07-162025-03-2644.152221Tenure CompletionAs per Reg.36 AB (3) of Banking Regulation Act, the Add.Director appointed by RBI shall not be reckoned for any proposition of the total number of Directors of the Banking Company. This section shall have effect notwithstanding anything to the contrary in the Companies Act or any other law for the time being in force. As such, the 2 RBI Nominee Directors should not be taken into account for any calculation on composition.Hence the Bank is in line with the Regulation 18 of the SEBI (LODR) Regulations, 2015.truetruetruetrueAudit Committee08730382Chiranjeevi Raj CNon-Executive - Independent DirectorChairperson2022-06-10Audit Committee09777115Ram Kumar C SNon-Executive - Nominee DirectorMember2022-10-04Audit Committee07772888Ezhil Jothi SNon-Executive - Independent DirectorMember2024-03-152025-03-26Smt.S.Ezhil Jothi (DIN - 07772888) ceased to be a Non Executive Independent Director of the Bank with effect from the close of business hours as on March 26, 2025Audit Committee10642487Thomas MathewNon-Executive - Nominee DirectorMember2024-04-12Audit Committee00883998Kanagavalli RNon-Executive - Independent DirectorMember2024-08-19Audit Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2025-03-26The Board of Directors in their meeting held on 26.03.2025, reconstituted the Committees of the Board and inducted Shri.R.Deepak Shankar as a member of the Audit Committee w.e.f. 26.03.2025.Nomination and remuneration committee07772888Ezhil Jothi SNon-Executive - Independent DirectorChairperson2022-10-142025-03-26Smt.S.Ezhil Jothi (DIN - 07772888) ceased to be a Non Executive Independent Director of the Bank with effect from the close of business hours as on March 26, 2025Nomination and remuneration committee00084014Niranjan Sankar ANon-Executive - Non Independent DirectorMember2022-06-10Nomination and remuneration committee08730382Chiranjeevi Raj CNon-Executive - Independent DirectorMember2022-10-14Nomination and remuneration committee00455352Nirranjan Kani D NNon-Executive - Non Independent DirectorMember2024-07-09Nomination and remuneration committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-09Nomination and remuneration committee07205781Sridharan SNon-Executive - Independent DirectorMember2024-10-28Nomination and remuneration committee00883998Kanagavalli RNon-Executive - Independent DirectorChairperson2025-03-26The Board of Directors in their meeting held on 26.03.2025, reconstituted the Committees of the Board and inducted Shri.R.Kanagavalli an as a member of the Nomination and Remuneration committee w.e.f. 26.03.2025.Stakeholders Relationship Committee00084014Niranjan Sankar ANon-Executive - Non Independent DirectorChairperson2022-06-10Stakeholders Relationship Committee09231101Salee Sukumaran NairExecutive DirectorMember2024-08-29Stakeholders Relationship Committee09850306Vincent Menachery DevassyExecutive DirectorMember2024-10-04Stakeholders Relationship Committee07933713Ashok S RNon-Executive - Non Independent DirectorMember2022-06-10Stakeholders Relationship Committee00455352Nirranjan Kani D NNon-Executive - Non Independent DirectorMember2022-06-10Stakeholders Relationship Committee08730382Chiranjeevi Raj CNon-Executive - Independent DirectorMember2024-03-15Stakeholders Relationship Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-09Risk Management Committee00209875Prabaharan BNon-Executive - Independent DirectorChairperson2022-06-10Risk Management Committee09231101Salee Sukumaran NairExecutive DirectorMember2024-08-29Risk Management Committee09850306Vincent Menachery DevassyExecutive DirectorMember2024-10-04Risk Management Committee07034994Rama Moorthy K VNon-Executive - Non Independent DirectorMember2024-07-09Risk Management Committee07205781Sridharan SNon-Executive - Independent DirectorMember2024-02-27Risk Management Committee08730382Chiranjeevi Raj CNon-Executive - Independent DirectorMember2024-03-15Risk Management Committee00883998Kanagavalli RNon-Executive - Independent DirectorMember2024-08-19Risk Management Committee09777115Ram Kumar C SNon-Executive - Nominee DirectorMember2022-10-04Corporate Social Responsibility Committee00084014Niranjan Sankar ANon-Executive - Non Independent DirectorChairperson2022-06-10Corporate Social Responsibility Committee09231101Salee Sukumaran NairExecutive DirectorMember2024-08-29Corporate Social Responsibility Committee07933713Ashok S RNon-Executive - Non Independent DirectorMember2022-06-10Corporate Social Responsibility Committee00455352Nirranjan Kani D NNon-Executive - Non Independent DirectorMember2022-06-10Corporate Social Responsibility Committee00209875Prabaharan BNon-Executive - Independent DirectorMember2022-06-10Corporate Social Responsibility Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-092024-10-04true141462024-10-2823true141462024-12-0436true141352024-12-1813true141462025-01-1729true141362025-01-2911true141462025-02-2526true141262025-02-260true141262025-03-2627true14146Audit Committee2024-10-18true5530Audit Committee2024-10-289true5530Audit Committee2024-11-2224true5530Audit Committee2025-01-0341true5530Audit Committee2025-01-2925true5530Audit Committee2025-03-1443true5530Nomination and remuneration committee2024-10-22true5530Nomination and remuneration committee2024-11-2129true6640Nomination and remuneration committee2024-12-2634true6640Nomination and remuneration committee2025-01-2832true6640Nomination and remuneration committee2025-02-2628true6640Nomination and remuneration committee2025-03-2627true6640Stakeholders Relationship Committee2024-10-22true7720Stakeholders Relationship Committee2024-11-2129true7720Stakeholders Relationship Committee2025-01-2867true7720Stakeholders Relationship Committee2025-02-2628true7720Risk Management Committee2024-11-29true8740Risk Management Committee2024-12-1717true8840Risk Management Committee2025-03-1082true8840Corporate Social Responsibility Committee2024-08-29true6620Corporate Social Responsibility Committee2025-01-28151true6620Corporate Social Responsibility Committee2025-03-1949true6510truetruetruetrueYestruetruetrueSwapnil YelgaonkarCompany Secretary and Compliance OfficerYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationNAYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationNAYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationNAYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationNAYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYeshttps://www.tmb.in/pages/Disclosure-as-per-RegulationYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesNAYesNANAYesYesYesYesYesYesYesYesYesYesYesNAYesSwapnil YelgaonkarCompany Secretary and Compliance OfficerNASwapnil YelgaonkarCompany Secretary and Compliance OfficerfalseSwapnil YelgaonkarCompany Secretary and Compliance OfficerThoothukudi2025-04-174590-4RBIATM Cash out Penalty Rs.10000/-2025-01-08ATM was not functioning due to cash-out for more than 10 hours.10000RBIATM Cash out Penalty Rs.20000/-2025-02-13ATM was not functioning due to cash-out for more than 10 hours.20000RBIATM Cash out Penalty Rs.30000/-2025-03-13ATM was not functioning due to cash-out for more than 10 hours.30000BSENon compliance with the listing regulations penalty Rs.38000/-. However the Bank has filed a waiver application against the said penalty2025-03-17Non compliance with the SEBI listing regulations (Regulation 19)38000NSENon compliance with the listing regulations penalty Rs.38000/-. However the Bank has filed a waiver application against the said penalty2025-03-17Non compliance with the SEBI listing regulations (Regulation 19)38000Deputy Commissioner of Income Tax Department, TDS Circle, Madurai.2024-10-16Notice of demand underSection 156 of theIncome Tax Act forRs.25,96,729 receivedalong with assessmentorder passed underSection 201 of the Act forthe Assessment Year 2013-14.The Bank filed an appeal with Commissioner of Income Tax department on 05.11.2024 and the Bank has remitted Rs. 5,19,346 (being 20 percentage of demand) as pre-deposit on 25.11.2024 and the Bank petition for grant of stay for the remaining demand is accepted by Income Tax Department on 06.12.2024. CIT(A) has advised us to submit the supporting documents for grounds of appeal on 27.02.2025. We have submitted our response on 14.03.2025. The appeal filed by us was disallowed by ADDL/JCIT(A)-10 Mumbai (ITBA/APL/S/250/2024-25/1074605913(1) on 18.03.2025. We are in the process of filing appeal before Income Tax Appellate Tribunal.Assessment Unit, Income Tax department2025-03-11The authority has issued a Notice of Demand under Section 156 of the Income Tax Act, 1961, pertaining to A.Y. 2017-18, wherein there is a demand of Rs.58,91,27,098/-The Bank filed an appeal before the Commissioner of Income Tax (Appeals) on 07.04.2025.