Alok Industries chairman and AGM
NSE: ALOKINDSBSE: 521070Textiles & ApparelsSmall Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹8.30.
29 Oct: open ₹8.25, high ₹8.63, low ₹8.20
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹4,250 Cr682nd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- Lossover the last 12 months
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- Net worth zero or below
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business.
- Net worth zero or below
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- −3.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- Net worth zero or below
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 1,03,44,04843.1% delivered
Alok Industries' chairperson is ACHUTHAN SIDDHARTH, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 24 Jul 2026.
Alok Industries board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonACHUTHAN SIDDHARTH
- Company Secretary and Compliance OfficerAnshul Kumar Jain
7 directors3 independent4 non-executive
- ACHUTHAN SIDDHARTH · ChairpersonIndependent · joined Sep 2020 · reappointed Sep 2025 · 72 months as independent · 4 listed boards · 4 as independent · 10 committee seats, 4 as chair
- MUMTAZ BANDUKWALAIndependent · joined Sep 2020 · reappointed Sep 2025 · 72 months as independent · 1 listed board · 1 as independent · 4 committee seats
- RAHUL DUTTIndependent · joined Sep 2020 · reappointed Sep 2025 · 72 months as independent · 5 listed boards · 5 as independent · 7 committee seats
- VENKATARAMAN RAMACHANDRANNominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board · 2 committee seats
- ANIL KUMAR RAJBANSHINominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board · 1 committee seat, 1 as chair
- HEMANT DESAINominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board
- NIRAV RAJESH PAREKHNominee, non-executive · joined Mar 2022 · reappointed Apr 2022 · 1 listed board
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 16 Jul 20267 of 7 present3 independent · 78 days in between
- 28 Apr 20266 of 7 present3 independent · 11 days in between
- 16 Apr 20266 of 7 present3 independent
Audit Committee
Chair ACHUTHAN SIDDHARTH
MUMTAZ BANDUKWALA, RAHUL DUTT, VENKATARAMAN RAMACHANDRAN
- 16 Jul 20264 of 4 present3 independent · 90 days in between
- 16 Apr 20264 of 4 present3 independent
Nomination and remuneration committee
Chair RAHUL DUTT
ACHUTHAN SIDDHARTH, HEMANT DESAI
- 28 Apr 20263 of 3 present2 independent · 11 days in between
- 16 Apr 20262 of 3 present2 independent
Stakeholders Relationship Committee
Chair ANIL KUMAR RAJBANSHI
ACHUTHAN SIDDHARTH, MUMTAZ BANDUKWALA, VENKATARAMAN RAMACHANDRAN
- 16 Jul 20264 of 4 present2 independent · 90 days in between
Risk Management Committee
Chair MUMTAZ BANDUKWALA
ANIL KUMAR RAJBANSHI, VENKATARAMAN RAMACHANDRAN
- 12 Jun 20263 of 3 present1 independent · 44 days in between
Corporate Social Responsibility Committee
Chair MUMTAZ BANDUKWALA
RAHUL DUTT, VENKATARAMAN RAMACHANDRAN
- 16 Apr 20263 of 3 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Jun 2026.
- Chaturvedi & Shah LLPPeer-review certificate valid to Jun 2029
1 earlier auditor
- S R B C & CO LLPNamed in the filing for the quarter to Mar 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Alok Industries AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.
Annual general meeting, 24 Jul 2026
9,64,753 shareholders on the register on 17 Jul 2026; present: 2 promoters and 85 others; votes counted by Virendra G. Bhatt / Virendra G. Bhatt.The company's voting result
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereonMoreLess
Ordinary99.91% for0.09% againstAgainst: promoters 0.00% · institutions 4.68% · other public 5.37%
Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%
- To appoint Shri Venkataraman Ramachandran (DIN: 02032853), who retires by rotation, as a DirectorOrdinary99.97% for0.03% against
Against: promoters 0.00% · institutions 1.23% · other public 5.65%
Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%
- To consider and approve continuation of Shri Hemant Desai (DIN: 00008531) as a non-executive director, liable to retire by rotation, notwithstanding his attaining the age of seventy-five yearsSpecial98.30% for1.70% against
Against: promoters 0.00% · institutions 89.07% · other public 6.24%
Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%
- To ratify the remuneration of Cost AuditorsOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 5.52%
Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%
- To appoint Shri Rajbir Saini as the Manager of the Company and approve the remuneration payable to himSpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 5.94%
Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 4 Sep 2025, 10 resolutions
10,51,653 shareholders on the register on 28 Aug 2025; present: 2 promoters and 63 others; votes counted by Virendra G. Bhatt / Virendra G. Bhatt.The company's voting result
To consider and adopt: a) Audited standalone financial statement for the Financial Year ended 31st March, 2025 and the reports of the Board of Directors and Auditors thereon. b) Audited consolidated financial statement for the Financial Year ended 31st March, 2025 and the report of Auditors thereon.MoreLess
Ordinary99.91% for0.09% againstAgainst: promoters 0.00% · institutions 2.84% · other public 7.18%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%
- To appoint Shri Nirav Parekh (DIN: 09505075), who retires by rotation as a DirectorOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 1.33% · other public 12.92%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%
- To appoint Shri Anil Kumar Rajbanshi (DIN 03370674), who retires by rotation as a DirectorOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 1.33% · other public 12.88%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%
- To appoint Auditors of the Company and fix their remunerationOrdinary99.94% for0.06% against
Against: promoters 0.00% · institutions 1.59% · other public 11.99%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%
- To re-appoint Shri Achuthan Siddharth (DIN: 00016278), as an Independent DirectorSpecial99.84% for0.16% against
Against: promoters 0.00% · institutions 4.94% · other public 13.01%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%
- To re-appoint Ms. Mumtaz Bandukwala (DIN: 07129301), as an Independent DirectorSpecial99.94% for0.06% against
Against: promoters 0.00% · institutions 1.75% · other public 12.93%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%
- To re-appoint Shri Rahul Dutt (DIN: 08872616), as an Independent DirectorSpecial99.91% for0.09% against
Against: promoters 0.00% · institutions 2.58% · other public 12.92%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%
- To appoint Secretarial AuditorOrdinary99.91% for0.09% against
Against: promoters 0.00% · institutions 2.84% · other public 7.12%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%
- To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 7.32%
Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%
- To adopt new Articles of Association of the Company containing regulations in conformity with the Companies Act, 2013Special99.89% for0.11% against
Against: promoters 0.00% · institutions 3.35% · other public 7.35%
Turnout: all 77.35% · promoters 100.00% · institutions 82.81% · other public 0.31%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 3 Sep 2024, 3 resolutions
Present: 2 promoters and 47 others.
Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2024 and the report of Auditors thereon.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.00% · other public 11.61%
Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.65%
- Consider appointment of Mr. Hemant Desai, Director retiring by rotation.Ordinary99.86% for0.14% against
Against: promoters 0.00% · institutions 3.98% · other public 15.84%
Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.64%
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 2.14%
Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.64%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 23 Dec 2023, 4 resolutions
- Approval for the alteration of Articles of AssociationSpecial99.73% for0.27% against
Against: promoters 0.00% · institutions 9.99% · other public 7.00%
Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.13%
- Approval for reclassification of Authorised Share Capital and consequent alteration of Memorandum of Association of the CompanyOrdinary99.73% for0.27% against
Against: promoters 0.00% · institutions 9.99% · other public 7.64%
Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%
- Approval for increase in Authorised Share Capital and consequent alteration of Memorandum of Association of the CompanyOrdinary99.73% for0.27% against
Against: promoters 0.00% · institutions 9.99% · other public 6.80%
Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%
- Approval to issue, offer and allot 9% Non-convertible Redeemable Preference Shares on private placement basisSpecial99.73% for0.27% against
Against: promoters 0.00% · institutions 9.99% · other public 7.29%
Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 22 Sep 2023, 6 resolutions
Present: 1 promoter and 39 others.
Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2023 and the report of Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.15%
Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%
- Consider appointment of Mr. V. Ramachandran, Director retiring by rotation.Ordinary99.94% for0.06% against
Against: promoters 0.00% · institutions 2.06% · other public 0.81%
Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.43%
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2024.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.45%
Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%
- Approval for increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013.Special97.58% for2.42% against
Against: promoters 0.00% · institutions 95.16% · other public 0.52%
Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%
- Approval for creation of mortgage or hypothecation and/ or charge under Section 180(1)(a) of the Companies Act, 2013.Special97.58% for2.42% against
Against: promoters 0.00% · institutions 95.15% · other public 0.50%
Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%
- Approve Material Related Party Transactions of the Company.OrdinaryPromoters have an interest in it98.96% for1.04% against
Against: promoters 0.00% · institutions 1.07% · other public 0.86%
Turnout: all 2.29% · promoters 0.00% · institutions 77.65% · other public 1.43%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 26 Jul 2022, 3 resolutions
Present: 0 promoters and 53 others.
Consider and adopt:na)audited standalone financial statement for the Financial Year ended 31st March 2022 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2022 and the Report of Auditors thereon.MoreLess
Ordinary99.91% for0.09% againstAgainst: promoters 0.00% · institutions 0.00% · other public 31.69%
Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%
- Re-appointment of Mr. Anil Kumar Rajbanshi as a Director retiring by rotationOrdinary99.91% for0.09% against
Against: promoters 0.00% · institutions 0.00% · other public 31.33%
Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2023.Ordinary99.89% for0.11% against
Against: promoters 0.00% · institutions 0.56% · other public 32.30%
Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 6 Apr 2022, 1 resolution
Appointment of Mr. Nirav Parekh (DIN: 09505075) as a Nominee Director (Non-Executive) of the Company representing JM Financial Asset Reconstruction Company Limited (acting in its capacity as trustee of JMFARC – March 2018 – Trust).MoreLess
Ordinary99.99% for0.01% againstAgainst: promoters 0.00% · institutions 0.00% · other public 4.43%
Turnout: all 76.70% · promoters 100.00% · institutions 63.78% · other public 0.93%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 21 Sep 2021, 3 resolutions
Present: 0 promoters and 34 others.
Consider and adopt:na)audited financial statement for the Financial Year ended 31st March 2021 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2021 and the Report of Auditors thereon.nMoreLess
Ordinary99.93% for0.07% againstAgainst: promoters 0.00% · institutions 0.00% · other public 26.14%
Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.92%
- Re-appointment of Mr. Hemant Desai as a Director retiring by rotationOrdinary99.87% for0.13% against
Against: promoters 0.00% · institutions 3.55% · other public 25.38%
Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.91%
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2022.Ordinary99.92% for0.08% against
Against: promoters 0.00% · institutions 0.00% · other public 28.13%
Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.92%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.
Mutual fund votes, meeting of 24 Jul 2026, 7 fund houses
To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereonMoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: The Company has negative net worth and the Company has not adequately discussed its plans to rectify the situation.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundUnqualified financial statements. Governance Concern: The Company has negative net worth and the Company has not adequately discussed its plans to rectify the situation.
3 for4 against- To appoint Shri Venkataraman Ramachandran (DIN: 02032853), who retires by rotation, as a Director7 for0 against
- To consider and approve continuation of Shri Hemant Desai (DIN: 00008531) as a non-executive director, liable to retire by rotation, notwithstanding his attaining the age of seventy-five years
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance concern: Low Attendance at Board Meetings and no justification has been provided by the Company for his leave of absence.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Low Attendance at Board Meetings and no justification has been provided by the Company for his leave of absence.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
2 for5 against - To ratify the remuneration of Cost Auditors7 for0 against
- To appoint Shri Rajbir Saini as the Manager of the Company and approve the remuneration payable to him7 for0 against
Mutual fund votes, meeting of 4 Sep 2025, 14 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
To consider and adopt: a) Audited standalone financial statement for the Financial Year ended 31st March, 2025 and the reports of the Board of Directors and Auditors thereon. b) Audited consolidated financial statement for the Financial Year ended 31st March, 2025 and the report of Auditors thereon.MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundThe Company’s net worth is eroded
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundUnqualified financial statements. The Company’s net worth is eroded
- Nippon India Mutual FundGovernance Concern: The Company’s net worth is eroded
7 for7 against- To appoint Shri Nirav Parekh (DIN: 09505075), who retires by rotation as a Director14 for0 against
- To appoint Shri Anil Kumar Rajbanshi (DIN 03370674), who retires by rotation as a Director14 for0 against
- To appoint Auditors of the Company and fix their remuneration
Against Jio BlackRock Mutual Fund
- Jio BlackRock Mutual FundS R B C & Co LLP’s term expires at the conclusion of the FY25 AGM. Accordingly, the Audit Committee and Board of Directors have approved the appointment of Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed audit fees to be paid to Chaturvedi & Shah LLP for FY26 is Rs. 17.5 mn plus applicable taxes and out of pocket expenses. The remuneration for the remaining term will be mutually agreed upon between the Board of Directors and statutory auditors. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. Therefore, we do not support the resolution.
1 for1 against - To re-appoint Shri Achuthan Siddharth (DIN: 00016278), as an Independent Director
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Chairman of the Board and Audit Committee is same person; Proposed appointment will lead to prolonged association with Group Company.
- Axis Mutual Fund, Jio BlackRock Mutual FundAchuthan Siddharth, 72, is former Partner, Deloitte Haskins & Sells. He was associated with Deloitte for over four decades. He has experience in the field of audit of domestic and multinational companies in sectors such as Manufacturing, Hospitality, Technology and Non-Banking Financial Services. He has been associated with the company since 14 September 2020. He has attended all eight (100%) board meetings held in FY25. We raise concern that he has been a director on the board of Reliance Industrial Infrastructure Ltd, a promoter group company, since April 2019. We will consider his overall association with Reliance group while computing his tenure. We do not support rotation of Independent Directors within the group if their aggregate tenure with the company or the group will exceed ten years during the tenure, as we believe this is not in line with the spirit of the regulations. We do not support the resolution.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Chairman of the Board and Audit Committee is same person; Proposed appointment will lead to prolonged association with Group Company.
- HDFC Mutual FundMr. Achuthan Siddharth, 72, is former Partner, Deloitte Haskins & Sells. He was associated with Deloitte for over four decades. He has experience in the field of audit of domestic and multinational companies in sectors such as Manufacturing, Hospitality, Technology and Non-Banking Financial Services. We do not support rotation of Independent Directors within the group if their aggregate tenure with the company or the group will exceed ten years during the tenure, as we believe this is not in line with the spirit of the regulations. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
3 for11 against - To re-appoint Ms. Mumtaz Bandukwala (DIN: 07129301), as an Independent Director
Against Axis Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund
- Axis Mutual Fund, Jio BlackRock Mutual FundMs. Mumtaz Bandukwala, 59, is Partner, Junnarkar & Associates, Advocates, Solicitors and Notary. She has been a practicing solicitor since the last 33 years. She has experience in the Companies Act and securities laws, and has handled mergers, private equity investments, arbitrations, and property matters in India. She has been associated with the company since 14 September 2020. She has attended all eight (100%) board meetings held in FY25. We note that Sandeep H Junnarkar, Principal, Junnarkar & Associates, Advocates was part of Reliance Industrial Infrastructure Limited a listed group company from 27 April 1991 to 28 March 2025. We also note that Junnarkar & Associates had provided services to Reliance Group in past. Given the long association of Junnarkar & Associates with the Reliance Group, and the business relationship between the firm and the Reliance Group, we do not support her reappointment as an Independent Director. The company must appoint her as Non-Executive Non-Independent Director. We do not support the resolution.
- HDFC Mutual FundMs. Mumtaz Bandukwala, 59, is Partner, Junnarkar & Associates, Advocates, Solicitors and Notary. She has been a practicing solicitor since the last 33 years. Given the long association of Junnarkar & Associates with the Reliance Group, and the business relationship between the firm and the Reliance Group. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
10 for4 against - To re-appoint Shri Rahul Dutt (DIN: 08872616), as an Independent Director
Against Axis Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund
- Axis Mutual Fund, Jio BlackRock Mutual FundRahul Dutt, 49, is Partner at Khaitan & Co in the Mergers & Acquisition and Private Equity Practice Group. Prior to this, he served as Senior Counsel at Reliance Industries Limited till September 2015. He has a Master’s degree in Law from the University of Leicester, UK and Bachelor’s degree in Law from the Government Law College, Mumbai. He has been associated with the company since 14 September 2020. He has attended all eight (100%) board meetings held in FY25. Khaitan & Co has represented and advised Reliance Industries Limited (RIL) on internal restructuring and multiple large acquisitions. RIL engages with Khaitan & Co, among various Indian and international law firms, depending upon subject matter and expertise of the law firm. Given the conflict of interest caused by existing business relationships, we do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
11 for3 against - To appoint Secretarial Auditor
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundCredentials of the proposed Secretarial Auditors not disclosed.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNo concern on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Credentials of the proposed Secretarial Auditors not disclosed.
- Nippon India Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR: Credentials of the proposed Secretarial Auditors not disclosed.
7 for7 against - To ratify the remuneration of Cost Auditors for the financial year ending March 31, 202614 for0 against
- To adopt new Articles of Association of the Company containing regulations in conformity with the Companies Act, 2013
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
- Angel One Mutual FundArticles of Association allows the minimum no. of Director on the Board to be less than six directors, Combined position of Chairman & Managing Director, appointment of alternate director
- Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundAoA allows the minimum no. of Director on the Board to be less than six directors, Combined position of Chairman & MD, appointment of alternate diector
- Edelweiss Mutual Fund, Groww Mutual FundCompliant with law. Transparency concern: Not disclosed the new set of AoA, neither in Notice nor on website
- Nippon India Mutual FundGovernance Concern
7 for7 against
1 proposal not matched to one resolution
To appoint M/s. Chaturvedi and Shah LLP (ICAI Regn. No.101720W/W100355) appointed as Auditors of the Company for a term of 5 (five) consecutive years from the conclusion of this Annual General Meeting till the conclusion of the sixth Annual General Meeting from this Annual General Meeting, at such remuneration as shall be fixed by the Board of Directors of the Company.MoreLess
Against Axis Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund
- Axis Mutual FundS R B C & Co LLP’s term expires at the conclusion of the FY25 AGM. Accordingly, the Audit Committee and Board of Directors have approved the appointment of Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed audit fees to be paid to Chaturvedi & Shah LLP for FY26 is Rs. 17.5 mn plus applicable taxes and out of pocket expenses. The remuneration for the remaining term will be mutually agreed upon between the Board of Directors and statutory auditors. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. Therefore, we do not support the resolution.
- HDFC Mutual FundThe company proposes to appoint Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
9 for3 against
Mutual fund votes, meeting of 3 Sep 2024, 9 fund houses
3 proposals
Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2024 and the report of Auditors thereon.MoreLess
9 for0 against- Consider appointment of Mr. Hemant Desai, Director retiring by rotation.9 for0 against
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025.9 for0 against
Mutual fund votes, meeting of 23 Dec 2023, 6 fund houses
4 proposals
- Approval for the alteration of Articles of Association6 for0 against
- Approval for reclassification of Authorised Share Capital and consequent alteration of Memorandum of Association of the Company6 for0 against
- Approval for increase in Authorised Share Capital and consequent alteration of Memorandum of Association of the Company6 for0 against
- Approval to issue, offer and allot 9% Non-convertible Redeemable Preference Shares on private placement basis6 for0 against
Mutual fund votes, meeting of 22 Sep 2023, 3 fund houses
6 proposals
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2023 and the report of Auditors thereon.MoreLess
3 for0 against- Consider appointment of Mr. V. Ramachandran, Director retiring by rotation.3 for0 against
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2024.3 for0 against
- Approval for creation of mortgage or hypothecation and/ or charge under Section 180(1)(a) of the Companies Act, 2013.3 for0 against
- Approve Material Related Party Transactions of the Company.
Against Motilal Oswal Mutual Fund
- Motilal Oswal Mutual FundNon-Compliant with SEBI LODR Regulations: Omnibus approval sought for more than 1 year. Governance concern: Clubbed Resolution
2 for1 against
1 proposal not matched to one resolution
To borrow any sum(s) of money(ies) from time to time, at its discretion, for the purpose of the business of the Company, which together with the money(ies) already borrowed and remaining outstanding (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) may exceed at any point of time, the aggregate of its paid-up share capital, free reserves and securities premium by a sum not exceeding Rs.26,000 Crore.MoreLess
Against HDFC Mutual Fund
- HDFC Mutual FundGiven these are rolling limits linked to networth, shareholders will not get a chance to periodic review th e borrowing limits
2 for1 against
Mutual fund votes, meeting of 26 Jul 2022, 5 fund houses
4 proposals
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
Consider and adopt:na)audited standalone financial statement for the Financial Year ended 31st March 2022 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2022 and the Report of Auditors thereon.MoreLess
5 for0 against- Re-appointment of Mr. Anil Kumar Rajbanshi as a Director retiring by rotation5 for0 against
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2023.
Against Nippon India Mutual Fund
- Nippon India Mutual FundLow audit fees
3 for1 against
1 proposal not matched to one resolution
- Ratify remuneration of Rs. 99,000 payable to BJD Nanabhoy & Co., cost auditors for FY231 for0 against
Mutual fund votes, meeting of 6 Apr 2022, 4 fund houses
1 proposal
Appointment of Mr. Nirav Parekh (DIN: 09505075) as a Nominee Director (Non-Executive) of the Company representing JM Financial Asset Reconstruction Company Limited (acting in its capacity as trustee of JMFARC – March 2018 – Trust).MoreLess
4 for0 against
Mutual fund votes, meeting of 21 Sep 2021, 4 fund houses
6 proposals
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
Consider and adopt:na)audited financial statement for the Financial Year ended 31st March 2021 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2021 and the Report of Auditors thereon.nMoreLess
3 for0 against- Re-appointment of Mr. Hemant Desai as a Director retiring by rotation4 for0 against
- Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2022.3 for0 against
3 proposals not matched to one resolution
- Adoption of consolidated financial statements for the year ended 31 March 20211 for0 against
- Adoption of standalone financial statements for the year ended 31 March 20211 for0 against
- Ratify remuneration of Rs. 99,000 payable to BJD Nanabhoy & Co., cost auditors for FY221 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines
Reported in the filing for the quarter to Sep 2026.
- Fine or penaltyAssistant Commissioner of CustomsSince 2 Sep 2026
Penalty of Rs. 3,468/- under Section 114A of the Customs Act ,1962.
Order passed for incorrect availment of Lower IGST and consequently short paid customs duty
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- No
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- No
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.