Sivanthi faction retains control of TMB board

Written by Sajan C Kumar | Tuticorin | Updated: Jan 9 2010, 05:25am hrs
This time also, the Nadar faction led by Ramachandra Adityan took a beating at the hustings in the fiercely fought election to the director board of the Tuticorin-based Tamilnad Mercantile Bank (TMB). The rival group led by businessman Sivanthi Adityan grabbed the lions share on the board. The battle for board room at the Nadar community-controlled old generation private bank was in full display with both the warring groups fighting bitterly for six vacant slots at the 86th and 87th annual general meetings (AGM) jointly held at Tuticorin on Wednesday.

While candidates belonging to rival Sivanthi factions S C Sekar, V V D N Vikraman, S R Aravind Kumar were eleted to the three vacant slots in the 86th AGM, P Mahendravel, Thirukumar Vetha- nayagam (both from Sivanthi group) and S Sundar (Ramachandra Adityan faction) were elected to the three vacant slots in the 87th AGM. The last board also had Sivanthi group representatives outnumbering the rival faction. Eight members namely, S C Sekar, V V D N Vikraman, S R Aravind Kumar (all belonging to Sivanthi Adityan group), C Mariappan, C Soman Raj, A Chidambaranathan, B Madhan Mohan and A Thangamayandi (all belonging to Ramachandra Adityan group) were in the fray for the three vacant slots in the 86th AGM.