Tamilnad Mercantile Bank Limited announced that, the Bank had filed a writ petition bearing No. W.P.(MD) No.10252 /2024 before the Hon'ble High Court of Madras, Madurai Bench against the Demand Notice of INR 1,100.4 million issued by the Assessment Unit of Income Tax Department. The Bank has received a web /certified copy of the order dated April 26, 2024 bearing No.

W.P.(MD) No.10252 /2024, passed by the Hon'ble High Court of Madras, Madurai Bench on May 17, 2024. The Bank had filed a writ petition bearing No. W.P.(MD) No.10252 /2024 before the Hon'ble High Court of Madras, Madurai Bench.

On May 17, 2024, the Bank received a web /certified copy of the order dated April 26, 2024 on the above captioned writ petition. Pursuant to the said order the Demand Notice issued by the Assessment Unit of Income Tax Department stands quashed.