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MERCANTILE BANK LIMITED2025-04-012026-03-31Quarterly2025-06-30EquitytruetruefalseNOT APPLICABLEtruetruetrueTop 1000 listed entitiestrue comt00570Original1) 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.14,15). These 2 RBI Nominee Directors should not be taken into account for any calculation on composition. 2) Shri.Prabaharan B (DIN - 00209875) has tendered his resignation from the position of Non-Execuetive Independent Director of the Bank with effect from the close of business hours on 11.06.2025 and the Board took note of it. 3) The Board in its meeting held on 26.03.2025, has appointed Shri.A.Shidambaranathan (DIN:02904738) as an Additional Director (Non-Executive, Independent) of the Bank with effect from 01.04.2025 for a term of 3 (three) years, i.e., upto March 31, 2028. Subsequently his appointment was ratified by the shareholders via Extra Ordinary Genaral Meeting(EGM) conducted through Postal Ballot on 04.06.2025. 4) The Board in its meeting held on 12.06.2025, has appointed Shri.K.Ramachandran (DIN - 08589628) as an Additional Director (Non-Executive Independent) of the Bank, for a term of 3 (three) years, i.e., upto June 11, 2028, subject to the approval of the Shareholders in the ensuing AGM. falsefalseMrSalee Sukumaran Nair******09231101Executive DirectorNot ApplicableCEO-MD1964-05-30falseNA2024-08-291010MrVincent Menachery Devassy******09850306Executive DirectorNot Applicable1964-05-10falseNA2024-09-271010MrNiranjan Sankar A******00084014Non-Executive - Non Independent DirectorNot Applicable1974-05-03falseNA2020-10-282021MrAshok S R******07933713Non-Executive - Non Independent DirectorNot Applicable1962-07-24falseNA2017-10-281010MrNirranjan Kani D N ******00455352Non-Executive - Non Independent DirectorNot Applicable1960-03-14falseNA2017-10-281010MrRama Moorthy K V ******07034994Non-Executive - Non Independent DirectorNot Applicable1959-01-12falseNA2024-07-091000MrPrabaharan B******00209875Non-Executive - Independent DirectorNot Applicable1955-07-08falseNA2021-08-032021-08-0346.091100OthersMr ChiranjeeviRaj C******08730382Non-Executive - Independent DirectorNot Applicable1976-03-20falseNA2021-07-162021-07-1647.151121MrSridharan S******07205781Non-Executive - Independent DirectorNot Applicable1955-12-16falseNA2024-02-272024-02-2716.041110MrDeepak Shankar R******05223027Non-Executive - Independent DirectorNot Applicable1981-11-28falseNA2024-07-092024-07-0911.221110MrsKanagavalli R******00883998Non-Executive - Independent DirectorNot Applicable1969-02-22falseNA2024-08-192024-08-1910.131100MrA Shidambaranathan******02904738Non-Executive - Independent DirectorNot Applicable1963-09-01falseNA2025-04-012025-04-0131110MrKrishnaswamy Ramachandran******08589628Non-Executive - Independent DirectorChairperson1961-06-07falseNA2025-06-122025-06-120.191100MrRam Kumar C S******09777115Non-Executive - Nominee DirectorNot Applicable1966-05-20falseNA2022-10-041010MrThomas Mathew******10642487Non-Executive - Nominee DirectorNot Applicable1965-11-13falseNA2024-04-121010truetruetruetrueAudit Committee08730382 Chiranjeevi Raj CNon-Executive - Independent DirectorChairperson2022-06-10Audit Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2025-03-262025-04-24The Board of Directors in their meeting held on 23.04.2025, reconstituted the Committees of the Board and inducted Shri.A.Shidambaranathan as a member of the Audit Committee w.e.f. 24.04.2025 in lieu of Shri.R.Deepak Shankar, Non-Executive Independent Director of the Bank.Audit Committee00883998Kanagavalli RNon-Executive - Independent DirectorMember2024-08-192025-06-12The Board of Directors in their meeting held on 12.06.2025, reconstituted the Committees of the Board and inducted Shri.S.Sridharan Non-Executive Independent Director as a member of Audit Committee w.e.f 12.06.2025 in lieu of Smt.R.Kanagavalli, Non-Executive Independent Director.Audit Committee02904738A ShidambaranathanNon-Executive - Independent DirectorMember2025-04-24The Board of Directors in their meeting held on 23.04.2025, reconstituted the Committees of the Board and inducted Shri.A.Shidambaranathan as a member of the Audit Committee w.e.f. 24.04.2025 in lieu of Shri.R.Deepak Shankar, Non-Executive Independent Director.Audit Committee07205781Sridharan SNon-Executive - Independent DirectorMember2025-06-12The Board of Directors in their meeting held on 12.06.2025, reconstituted the Committees of the Board and inducted Shri.S.Sridharan Non-Executive Independent Director as a member of Audit Committee w.e.f 12.06.2025 in lieu of Smt.R.Kanagavalli, Non-Executive Independent Director.Audit Committee09777115Ram Kumar C SNon-Executive - Nominee DirectorMember2022-10-04As per Reg.36 AB (3) of BR 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 Add. Directors(Shri.C.S Ram Kumar & Shri.Thomas Mathew) should not be taken into account for any calculation on composition.Audit Committee10642487Thomas MathewNon-Executive - Nominee DirectorMember2024-04-12 As per Reg.36 AB (3) of BR 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 Add. Directors(Shri.C.S Ram Kumar & Shri.Thomas Mathew) should not be taken into account for any calculation on composition.Nomination and remuneration committee02904738A ShidambaranathanNon-Executive - Independent DirectorChairperson2025-04-24The Board of Directors in their meeting held on 23.04.2025, reconstituted the Committees of the Board and inducted Shri.A.Shidambaranathan, Non-Executive Independent Director as a member of the Nomination and Remunration Committee of the Bank w.e.f. 24.04.2025 in lieu of in lieu of Smt. R.Kanagavalli, Non Executive Independent Director.Nomination and remuneration committee00883998Kanagavalli RNon-Executive - Independent DirectorChairperson2025-03-262025-04-24The Board of Directors in their meeting held on 23.04.2025, reconstituted the Committees of the Board and inducted Shri.A.Shidambaranathan, Non-Executive Independent Director as a member of the Nomination and Remunration Committee of the Bank w.e.f. 24.04.2025 in lieu of in lieu of Smt. R.Kanagavalli, Non Executive Independent Director.Nomination and remuneration committee00084014Niranjan Sankar ANon-Executive - Non Independent DirectorMember2022-06-10Nomination and remuneration committee08730382 Chiranjeevi Raj CNon-Executive - Independent DirectorMember2022-10-14Nomination and remuneration committee00455352Nirranjan Kani D N Non-Executive - Non Independent DirectorMember2024-07-09Nomination and remuneration committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-09Nomination and remuneration committee07205781Sridharan SNon-Executive - Independent DirectorMember2024-10-28Stakeholders 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 N Non-Executive - Non Independent DirectorMember2022-06-10Stakeholders Relationship Committee08730382 Chiranjeevi Raj CNon-Executive - Independent DirectorMember2024-03-15Stakeholders Relationship Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-09Risk Management Committee00209875Prabaharan BNon-Executive - Independent DirectorChairperson2022-06-102025-06-11 Shri.Prabaharan B (DIN - 00209875) has tendered his resignation from the position of Non-Execuetive Independent Director of the Bank with effect from the close of business hours on 11.06.2025.Consequently, he ceased to be a Chairman of the committee. Risk Management Committee07205781Sridharan SNon-Executive - Independent DirectorChairperson2024-02-27Due to resignation of Shri.Prabhakaran B, Non- Executive-Independent Director, the Board of Directors in their meeting held on 12.06.2025, reconstituted the Committees of the Board and nominated Shri.S.Sridharan, Non-Executive Independent Director as a Chairman of the Risk Management Committee of the Bank w.e.f. 12.06.2025.Risk Management Committee09231101Salee Sukumaran NairExecutive DirectorMember2024-08-29Risk Management Committee09850306Vincent Menachery DevassyExecutive DirectorMember2024-10-04Risk Management Committee07034994Rama Moorthy K V Non-Executive - Non Independent DirectorMember2024-07-09Risk Management Committee08730382 Chiranjeevi Raj CNon-Executive - Independent DirectorMember2024-03-15Risk Management Committee00883998Kanagavalli RNon-Executive - Independent DirectorMember2024-08-19Risk Management Committee09777115Ram Kumar C SNon-Executive - Nominee DirectorMember2022-10-04As per Reg.36 AB (3) of BR 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, RBI Add. Directors(Shri.C.S Ram Kumar) should not be taken into account for any calculation on composition.Risk Management Committee08589628Krishnaswamy RamachandranNon-Executive - Independent DirectorMember2025-06-12The Board of Directors in their meeting held on 12.06.2025, reconstituted the Committees of the Board and inducted Shri.Krishnaswamy Ramachandran Non-Executive Independent Director as a member of Risk Management Committee w.e.f 12.06.2025.Corporate 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 N Non-Executive - Non Independent DirectorMember2022-06-10Corporate Social Responsibility Committee00209875Prabaharan BNon-Executive - Independent DirectorMember2022-06-102025-06-11 Shri.Prabaharan B (DIN - 00209875) has tendered his resignation from the position of Non-Execuetive Independent Director of the Bank with effect from the close of business hours on 11.06.2025.Consequently, he ceased to be a member of the committee.Corporate Social Responsibility Committee02904738A ShidambaranathanNon-Executive - Independent DirectorMember2025-04-24The Board of Directors in their meeting held on 23.04.2025, reconstituted the Committees of the Board and inducted Shri.A.Shidambaranathan, Non-Executive Independent Director as a member of the Corporate Social Responsibility Committee of the Bank w.e.f. 24.04.2025.Corporate Social Responsibility Committee08730382 Chiranjeevi Raj CNon-Executive - Independent DirectorMember2025-06-12Consequent to resignation of Shri.Prabhakaran B, Non-Executive Independent Director, the Board of Directors in their meeting held on 12.06.2025, reconstituted the Committees of the Board and nominated Shri.C.Chiranjeevi Raj, Non-Executive Independent Director as a member of the Corporate Social Responsibilty Committee w.e.f. 12.06.2025.Corporate Social Responsibility Committee05223027Deepak Shankar RNon-Executive - Independent DirectorMember2024-07-092025-01-17true141362025-01-2911true141462025-02-2526true141262025-02-260true141262025-03-2627true141462025-04-2327true141462025-06-1249true141462025-06-2411true14146Audit Committee2025-01-03true5530Audit Committee2025-01-2925true5530Audit Committee2025-03-1443true5530Audit Committee2025-04-2339true5530Audit Committee2025-05-1218true5530Audit Committee2025-06-2442true5530Nomination and remuneration committee2025-01-28true6640Nomination and remuneration committee2025-02-2628true6640Nomination and remuneration committee2025-03-2627true6640Nomination and remuneration committee2025-04-1721true6640Nomination and remuneration committee2025-06-0447true6640Nomination and remuneration committee2025-06-105true6640Stakeholders Relationship Committee2025-01-28true7720Stakeholders Relationship Committee2025-02-2628true7720Stakeholders Relationship Committee2025-05-2385true7720Risk Management Committee2025-03-10true8840Risk Management Committee2025-06-03true8840Corporate Social Responsibility Committee2025-01-28true6620Corporate Social Responsibility Committee2025-03-1949true6510Corporate Social Responsibility Committee2025-06-0476true7730truetruetruetrueYestruetruetrue Swapnil YelgaonkarCompany Secretary and Compliance Officerfalse Swapnil YelgaonkarCompany Secretary and Compliance OfficerThoothukudi2025-07-2303211Reserve Bank of IndiaPenalty levied by RBI2025-04-08Non-Replenishment of Cash -ATM was not functioning due to cash-out for more than 10 hours (For 1 ATM).Penalty Rs.10,000/-Reserve Bank of IndiaPenalty levied by RBI2025-04-30Irregularities observed by RBI during the course of inspection at Pudukottai Currency Chest on 03.04.2025Penalty Rs.12,250/-Reserve Bank of IndiaPenalty levied by RBI2025-05-13Non-Replenishment of Cash - ATM was not functioning due to cash-out for more than 10 hours (For 2 ATM's).Penalty Rs.20,000/-Reserve Bank of IndiaPenalty levied by RBI2025-05-16Non-Replenishment of Cash - ATM was not functioning due to cash-out for more than 10 hours (For 1 ATM).Penalty Rs.10,000/-Reserve Bank of IndiaPenalty levied by RBI2025-06-25Non-Replenishment of Cash - ATM was not functioning due to cash-out for more than 10 hours (For 2 ATM's).Penalty Rs.20,000/-BSE LimitedPenalty levied by BSE Limited2025-06-26Non-compliance under Regulation 24A of SEBI(LODR) Regulations 2015.Penalty Rs.52,000/- paid on 27.06.2025Deputy Commissioner of Income Tax Department, TDS Circle, Madurai.2024-10-16Notice of demand under Section 156 of the Income Tax Act for Rs.25,96,729 received along with assessment order passed under Section 201 of the Act for the 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. The Bank has has submitted its response on 14.03.2025. The appeal filed by the Bank was disallowed by ADDL/JCIT(A)-10 Mumbai (ITBA/APL/S/250/2024-25/1074605913(1) on 18.03.2025. The Bank has filed the appeal before Income Tax Appellate Tribunal on 22.04.2025.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.Subsequently the bank has received Show cause notice for penalty order u/s. 270A of IT Act on 25.04.2025.  Subsequently the Bank has submitted its response on 06.05.2025.