CMR Green Technologies MD, chairman and AGM

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• ORDINARY - To consider and adopt the Audited financial statements of the Company for the financial year ended march 31, 2026, and the reports of the Board of Directors and Auditors thereon; and the Audited consolidated financial statements of the Company for the financial year ended March 31, 2026 and the report of the Auditors thereonMoreLess

  6 for0 against
• ORDINARY - To appoint a Director in place of Mr. Raghav Agarwal (DIN: 08450843) who retires by rotation and being eligible offers himself for re-appointment

  ›Against Bank of India Mutual Fund

  • Bank of India Mutual FundRaghav Agarwal, 32, is Whole Time Director and part of promoter family. He is son of Mohan Agarwal (Managing Director). He has been associated with the company since 12 August 2021. He attended five out of six (83%) board meetings held in FY26. At the age of 32, Raghav Agarwal does not have ten years of post-qualification work experience, which does not align his (re)appointment with our voting guidelines. We do not support this resolution.

  5 for1 against
• ORDINARY - To ratify the remuneration of Cost Auditor

  1 for0 against
• ORDINARY - To re-appoint Mr. Mohan Agarwal (DIN: 00595232) as the Managing Director of the Company

  ›Against Edelweiss Mutual Fund, Kotak Mahindra Mutual Fund

  • Edelweiss Mutual FundCompliant with law. No concern on the merits of appointees and proposed remuneration. Transparency Concern: No clarity on terms of appointment of Mr. Ankur Singh u/s 152 of Companies Act, 2013 w.r.t. retirement by rotation. If the same is non-retiring in nature, then along with Mr. Mohan Agarwal’s term as non-retiring, the Board would be non-compliant u/s 152 of the Act.
  • Kotak Mahindra Mutual FundMr. Mohan Agarwal, promoter Chairperson and Managing Director, has over four decades of experience in the aluminium alloys recycling industry and attended all board meetings in FY26. He also serves on the Audit Committee, which raises a potential governance concern due to the presence of an executive/promoter director on the committee. The Company has not disclosed whether Mr. Mohan Agarwal and Mr. Ankur Singh are liable to retire by rotation. Given that Mr. Mohan Agarwal is stated to be a non-retiring Managing Director, the absence of clarity regarding Mr. Ankur Singh's status raises a potential compliance concern with the requirement that at least two-thirds of the Board be liable to retire by rotation. The lack of disclosure limits shareholders' ability to assess the proposal and raises governance and transparency concerns. Hence, we do not favour the resolution.

  4 for2 against
• ORDINARY - To re-appoint Mr. Akshay Agarwal (DIN: 07175149) as the Whole-time Director of the Company with revised terms of remuneration

  6 for0 against
• ORDINARY - To re-appoint Mr. Raghav Agarwal (DIN: 08450843) as the Whole-time Director of the Company and revised terms of remuneration

  ›Against Bank of India Mutual Fund

  • Bank of India Mutual FundRaghav Agarwal, 32, is Whole Time Director and part of promoter family. He is son of Mohan Agarwal (Managing Director). He has been associated with the company since 12 August 2021. He attended five out of six (83%) board meetings held in FY26. In FY26, he received remuneration of Rs. 8.0 mn. We estimate his annual fixed pay at Rs. 13.4 mn and along with performance linked commission as per resolution #13, we estimate his annual pay at Rs. 38.4 mn. However, as mentioned in resolution #2, at the age of 32, Raghav Agarwal does not have ten years of post-qualification work experience, which does not align his (re)appointment with our voting guidelines. We do not support this resolution.

  5 for1 against
• SPECIAL - To re-appoint Mr. Gyan Mohan (DIN: 07816704) as an Independent Director of the Company

  ›Against Edelweiss Mutual Fund, ICICI Prudential Mutual Fund

  • Edelweiss Mutual FundCompliant with law. Governance Concern: Proposed re-appointments of Mr. Gyanmohan and Mr. Balvinder Kumar would lead to prolonged association with the Group. Governance and Transparency Concern: Non-attendance of proposed appointees at last three AGMs while serving as AC, NRC and SRC Committees Chairpersons and no clarity on reason for absence along with no disclosures on whether any of their representatives attended these AGMs or not.
  • ICICI Prudential Mutual FundThe director has prolonged association with group. Hence, the AMC has voted against the resolution.

  4 for2 against
• SPECIAL - To re-appoint Mr. Balvinder Kumar (DIN: 01647940) as an Independent Director of the Company

  ›Against Edelweiss Mutual Fund, ICICI Prudential Mutual Fund

  • Edelweiss Mutual FundCompliant with law. Governance Concern: Proposed re-appointments of Mr. Gyanmohan and Mr. Balvinder Kumar would lead to prolonged association with the Group. Governance and Transparency Concern: Non-attendance of proposed appointees at last three AGMs while serving as AC, NRC and SRC Committees Chairpersons and no clarity on reason for absence along with no disclosures on whether any of their representatives attended these AGMs or not.
  • ICICI Prudential Mutual FundThe director has prolonged association with group. Hence, the AMC has voted against the resolution.

  4 for2 against
• SPECIAL - To re-appoint Ms. Rashmi Verma (DIN: 09268810) as an Independent Director of the Company

  ›Against Edelweiss Mutual Fund

  • Edelweiss Mutual FundCompliant with law. Governance and Transparency Concern: Non-attendance of proposed appointees at last three AGMs while serving as AC, NRC and SRC Committees Chairpersons and no clarity on reason for absence along with no disclosures on whether any of their representatives attended these AGMs or not.

  5 for1 against
• ORDINARY - To regularize the appointment of Mr. Ankur Singh (DIN: 02712564) as an Executive Director of the Company

  ›Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Kotak Mahindra Mutual Fund

  • Bank of India Mutual FundAnkur Singh, 54, is Executive Director and has been associated with the company since March 2020. He has 34 years of experience in the aluminium industry in primary and secondary aluminium producers. Previously he was associated with Hindalco Industries Ltd. The company has not specified a tenure for his appointment. However, we obtain comfort from SEBI regulations and the Companies Act 2013 that executive directors are required to seek reappointment every five years. The company proposes to pay a remuneration of Rs. 22.0 mn. However, the remuneration structure is unclear. He received 190,000 stock options in FY26. We estimate his remuneration at Rs. 71.1 mn (including fair value of stock options and bonus as per resolution #13), which is high. Further we expect the company to disclose the quantum of stock options he is eligible to receive during his tenure. Given the lack of disclosures on remuneration and quantum of stock options, we do not support this resolution.
  • Edelweiss Mutual FundCompliant with law. No concern on the merits of appointees and proposed remuneration. Transparency Concern: No clarity on terms of appointment of Mr. Ankur Singh u/s 152 of Companies Act, 2013 w.r.t. retirement by rotation. If the same is non-retiring in nature, then along with Mr. Mohan Agarwal’s term as non-retiring, the Board would be non-compliant u/s 152 of the Act.
  • Kotak Mahindra Mutual FundAnkur Singh, 54, is Executive Director and has been associated with the company since March 2020. He has 34 years of experience in the aluminium industry in primary and secondary aluminium producers. Previously he was associated with Hindalco Industries Ltd. The company has not specified a tenure for his appointment. The Company has not disclosed whether Mr. Mohan Agarwal and Mr. Ankur Singh are liable to retire by rotation. Given that Mr. Mohan Agarwal is stated to be a non-retiring Managing Director, the absence of clarity regarding Mr. Ankur Singh's status raises a potential compliance concern with the requirement that at least two-thirds of the Board be liable to retire by rotation. The lack of disclosure limits shareholders' ability to assess the proposal and raises governance and transparency concerns. Hence, we do not favour the resolution.

  3 for3 against
• ORDINARY - To approve appointment of Secretarial Auditor from the F.Y. 2026-27 to 2030-31

  6 for0 against
• ORDINARY - Approval for payment of performance-linked commission to the Independent Directors of the Company

  6 for0 against
• ORDINARY - Approval for Payment of Performance bonus to Executive Directors.

  6 for0 against
• SPECIAL - To discuss and approve the increase in the limit of investment, securities and guarantee as per sec 186 of the Companies Act, 2013

  ›Against Bank of India Mutual Fund, Edelweiss Mutual Fund, Kotak Mahindra Mutual Fund

  • Bank of India Mutual FundThe company proposes to obtain approval for providing loans, investment and guarantee to any subsidiary or associate companies upto Rs. 15.0 bn. As on 31 March 2026, the company has stated in its annual report that it has provided an aggregate of Rs. 15.1 bn investments and guarantees on a standalone basis. The company should clearly disclose the extent of limits utilized under Section 186 for FY26 in the meeting notice. Further, this approval allows the company to give loans/ guarantees/ provide securities to anybody corporate, including promoter group companies. Given these concerns, we do not support this resolution.
  • Edelweiss Mutual FundCompliant with the law. Governance & Transparency Concern: Inadequate disclosures have been provided w.r.t. the particulars of the proposed loans / investments / guarantees / securities i.e. Blanket approval without adequate disclosures.
  • Kotak Mahindra Mutual FundThe company proposes to obtain approval for providing loans, investment and guarantee to any subsidiary or associate companies upto Rs. 15.0 bn. As on 31 March 2026, the company has stated in its annual report that it has provided an aggregate of Rs. 15.1 bn investments and guarantees on a standalone basis. The Company has proposed this resolution as a blanket resolution. We do not favour the blanket approval, as it has no clarity on uses of fund. Hence, we do not favour the resolution.

  2 for3 against
• SPECIAL - To consider and approve the increase in the borrowing limit of the Company as per Section 180(1)(a) And 180(1)(c) of the Companies Act, 2013.

  1 for0 against
• SPECIAL - Alteration of Article 58 Of the Articles of Association of The Company.

  6 for0 against