New Delhi, Oct. 30 -- NEW DELHI: Tamilnad Mercantile Bank (TMB) has sought the Reserve Bank of India's approval to regularize certain share transfers, while adjudication of a separate matter involving the issuance of bonus shares remains pending, managing director and chief executive officer Salee S. Nair said in an interview with Mint.

Nair also noted the bank's expansion and transformation journey had secured the board's support.

"The kind of friction that we saw between the management and the board in the past is actually past," Nair said.

The Directorate of Enforcement (ED) had issued two show-cause notices to TMB - one related to alleged contraventions in share transfers and the other on the issuance of bonus shares, according to ...