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CMS Info Systems CEO, chairman, board of directors and AGM

NSE: CMSINFOBSE: 543441Commercial Services & SuppliesSmall Cap

CMS Info Systems Limited · Face value ₹10 · Listed Dec 2021 · Issue price ₹216
Last close ₹205.60up ₹1.66 (0.81%)BSE ₹206.05

Share price at the NSE close on 27 Oct 2026. Previous close ₹203.94.

27 Oct: open ₹200.50, high ₹208.00, low ₹200.50

52-week range of traded prices to 27 Oct 2026
₹197.31Low, 26 Oct 2026₹388.30High, 29 Oct 2025
Market cap
₹3,291 Cr777th largest listed
P/E
11.21
P/B
1.35
Dividend yield
2.55%
ROE
12.5%
ROCE
15.3%
Debt to equity
0.00
Volume, NSE
5,40,92456.5% delivered

CMS Info Systems' chairperson is Shyamala Gopinath and its chief executive Rajiv Kaul, as filed for the quarter to Sep 2026. Its latest annual general meeting was on 21 Sep 2026.

CMS Info Systems 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

  • ChairpersonShyamala Gopinath
  • Chief executiveRajiv Kaul
  • Company Secretary and Compliance OfficerDebashis Dey

7 directors4 independent1 executive2 non-executive

  • Shyamala Gopinath · ChairpersonNon-executive · joined Nov 2017 · reappointed Aug 2025 · 2 listed boards · 1 as independent · 3 committee seats, 2 as chair
  • Rajiv Kaul · Chief executiveExecutive · joined Jul 2009 · reappointed Apr 2023 · 1 listed board · 1 committee seat
  • Vishnu JeromeIndependent · joined Apr 2025 · 18 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Sunil MehtaIndependent · joined Dec 2024 · 21 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 3 as chair
  • Vidya KrishnanIndependent · joined Jan 2026 · 9 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
  • William Poole VIIIIndependent · joined Aug 2026 · 1 month as independent · 1 listed board · 1 as independent
  • Krzysztof Wieslaw JamrozNon-executive · joined Aug 2021 · 1 listed board · 1 committee seat

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.

3 directors who left
  • Sayali Karanjkar, left 31 Dec 2025: Tenure Completion
  • Tapan Ray, left 8 Apr 2025: Tenure Completion
  • Jimmy Lachmandas Mahtani, left 9 Dec 2024: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 21 Sep 20267 of 7 present4 independent · 41 days in between
    • 10 Aug 20267 of 7 present4 independent · 87 days in between
    • 14 May 20266 of 6 present3 independent

  • Audit Committee

    Chair Sunil Mehta

    Krzysztof Wieslaw Jamroz, Vishnu Jerome, Vidya Krishnan

    • 10 Aug 20264 of 4 present3 independent · 87 days in between
    • 14 May 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair Vishnu Jerome

    Krzysztof Wieslaw Jamroz, William Poole VIII

    No meeting listed in the filing.

  • Stakeholders Relationship Committee

    Chair Shyamala Gopinath

    Rajiv Kaul, Sunil Mehta

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Shyamala Gopinath

    Sunil Mehta, Pankaj Khandewal

    • 29 May 20263 of 4 present2 independent

  • Corporate Social Responsibility Committee

    Chair Rajiv Kaul

    Shyamala Gopinath, William Poole VIII

    • 29 May 20264 of 5 present3 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 Mar 2026.

  • B S R Co & LLPPeer-review certificate valid to Jul 2028
1 earlier auditor
  • B S R and 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.

CMS Info Systems 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.CMS Info Systems dividend history

Annual general meeting, 21 Sep 2026

1,63,420 shareholders on the register on 14 Sep 2026; present: 0 promoters and 51 others; votes counted by Mukesh Siroya / M Siroya and Company, Company Secretaries.The company's voting result

  1. Adoption of Audited Standalone Financial Statements for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 56.19% · promoters 0.00% · institutions 88.75% · other public 15.79%

  2. Adoption of Audited Consolidated Financial Statements for the financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 56.19% · promoters 0.00% · institutions 88.75% · other public 15.79%

  3. Confirmation of Interim Dividend and Approval of Final Dividend for financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

  4. Re-appointment of Mr. Krzysztof Wieslaw Jamroz (DIN: 07462321) as a Non-Executive Non-Independent Director, liable to retire by rotation.
    Ordinary
    95.80% for4.20% against

    Against: promoters 0.00% · institutions 4.80% · other public 0.02%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

  5. Appointment of Mr. William Poole VIII (DIN: 03533109) as an Independent Director of the Company for a term of three years.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

  6. Ratification of Remuneration payable to M/s. S K Agarwal & Associates, Cost Accountants as for financial year ended March 31, 2027.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

  7. Approval of Borrowing Limits of the Company pursuant to Section 180 (1) (c) of the Companies Act, 2013
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

  8. Approval of limits for creation of mortgage or charge on the assets, properties or undertaking(s) of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 56.22% · promoters 0.00% · institutions 88.82% · other public 15.79%

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, 24 Mar 2026, 1 resolution

1,61,661 shareholders on the register on 13 Feb 2026; votes counted by CS Mukesh Siroya / M Siroya & Company.The company's voting result

  1. Appointment of Ms. Vidya Krishnan (DIN: 09669166) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 61.94% · promoters 0.00% · institutions 91.44% · other public 16.88%

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 Aug 2025, 5 resolutions

1,80,998 shareholders on the register on 15 Aug 2025; present: 0 promoters and 48 others; votes counted by Mukesh Siroya / M Siroya and Company, Company Secretaries.The company's voting result

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 61.58% · promoters 0.00% · institutions 86.40% · other public 19.25%

  2. Confirmation of Interim Dividend of ₹ 3.25 per fully paid-up equity share and Special (Interim) Dividend of ₹ 3.00 per fully paid-up equity share, declared for financial year ended March 31, 2025 and Approval of additional Final Dividend of ₹ 3.25 per fully paid-up equity share for financial year ended March 31, 2025MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 61.67% · promoters 0.00% · institutions 86.53% · other public 19.25%

  3. Reappointment of Mrs. Shyamala Gopinath (DIN: 02362921) as a Non-Executive Non-Independent Director, liable to retire by rotation
    Special
    97.37% for2.63% against

    Against: promoters 0.00% · institutions 2.97% · other public 0.01%

    Turnout: all 61.52% · promoters 0.00% · institutions 86.30% · other public 19.25%

  4. Appointment of M/s. Siroya and BA Associates, a firm of Practicing Company Secretaries, as the Secretarial Auditors of the Company for a term of 5 (five) years
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 61.66% · promoters 0.00% · institutions 86.51% · other public 19.25%

  5. Ratification of remuneration of ₹ 1,25,000 payable to M/s. S K Agarwal & Associates, Cost Accountants for financial year ended March 31, 2026
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 61.66% · promoters 0.00% · institutions 86.51% · other public 19.25%

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, 20 Jun 2025, 1 resolution

1,71,544 shareholders on the register on 16 May 2025; votes counted by Mukesh Siroya / M Siroya and Company.The company's voting result

  1. Appointment of Mr. Vishnu Jerome (DIN: 05325285) as an Independent Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 63.91% · promoters 0.00% · institutions 88.88% · other public 19.42%

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, 17 Feb 2025, 1 resolution

1,77,680 shareholders on the register on 10 Jan 2025; votes counted by Mukesh Siroya / M Siroya and Company.The company's voting result

  1. Appointment of Mr. Sunil Mehta (DIN: 07430460) as an Independent Director of the Company for a term of 5 (Five) years from December 6, 2024 to December 5, 2029.
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.09% · other public 0.06%

    Turnout: all 63.47% · promoters 0.00% · institutions 87.16% · other public 19.46%

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, 6 Aug 2024, 6 resolutions

Present: 0 promoters and 55 others.

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 61.99% · promoters 0.00% · institutions 82.29% · other public 20.20%

  2. Confirmation of interim dividend of Rs. 2.50 per equity share and Approval of final dividend of Rs. 3.25 per equity share for F.Y. ended 31st March, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 62.08% · promoters 0.00% · institutions 82.42% · other public 20.20%

  3. Reappointment of Krzysztof Wieslaw Jamroz (DIN: 07462321) as Non-Executive Non-Independent Director, liable to retire by rotation.
    Ordinary
    96.31% for3.69% against

    Against: promoters 0.00% · institutions 4.13% · other public 0.00%

    Turnout: all 62.07% · promoters 0.00% · institutions 82.41% · other public 20.20%

  4. Ratification of remuneration of Rs. 1,25,000 payable to M/s. S.K. Agarwal & Associates, as Cost Accountants for F.Y. ended 31st March, 2025
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 62.07% · promoters 0.00% · institutions 82.41% · other public 20.20%

  5. Approval for reclassification of authorized share capital and consequent alteration to Clause V (Capital Clause) of Memorandum of Association of the Company .
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 62.07% · promoters 0.00% · institutions 82.41% · other public 20.20%

  6. Approval for Alteration of Articles of Association of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 62.07% · promoters 0.00% · institutions 82.41% · other public 20.20%

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, 2 Mar 2024, 2 resolutions
  1. Re-appointment of Mrs. Manju Agarwal as an Independent Director for a further term of three years
    Special
    76.37% for23.63% against

    Against: promoters 0.00% · institutions 39.95% · other public 3.85%

    Turnout: all 72.46% · promoters 100.00% · institutions 90.96% · other public 12.26%

  2. Re-appointment of Ms. Sayali Karanjakar as an Independent Director of the Company for a further term of two years
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 0.55% · other public 0.10%

    Turnout: all 72.46% · promoters 100.00% · institutions 90.96% · other public 12.26%

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, 6 Sep 2023, 5 resolutions

Present: 1 promoter and 69 others.

  1. To receive, consider and adopt the:na) Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the reports of the Board of Directors and Auditors thereon; andnb) Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 together with the report of the Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 74.64% · promoters 100.00% · institutions 90.24% · other public 14.24%

  2. To declare Final Dividend of Rs. 4.75 per fully paid equity share i.e 47.5% for the financial year ended 31st March, 2023.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 74.71% · promoters 100.00% · institutions 90.40% · other public 14.24%

  3. To Re-appoint Mr. Ashish Agrawal (DIN: 00163344) as Director, who retires by rotation at this Annual General Meeting (AGM) and, being eligible, offers himself for re-appointment.
    Ordinary
    96.36% for3.64% against

    Against: promoters 0.00% · institutions 6.10% · other public 0.01%

    Turnout: all 74.70% · promoters 100.00% · institutions 90.37% · other public 14.24%

  4. To consider and approve the re-appointment of M/s BSR & Co. LLP, Chartered Accountants (Firm Registration No: 101248W/W-100022) as statutory auditors of the company for a 2nd consecutive term of 5 yearsMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 74.70% · promoters 100.00% · institutions 90.37% · other public 14.24%

  5. To ratify the remuneration payable to the Cost Auditor appointed by the Board of Directors of the Company for the financial year 2023-24
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.06% · other public 0.01%

    Turnout: all 74.70% · promoters 100.00% · institutions 90.37% · other public 14.24%

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.Funds that hold it

Mutual fund votes, meeting of 21 Sep 2026, 15 fund houses

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

  • Adoption of Audited Standalone Financial Statements for the financial year ended March 31, 2026
    15 for0 against
  • Adoption of Audited Consolidated Financial Statements for the financial year ended March 31, 2026
    15 for0 against
  • Confirmation of Interim Dividend and Approval of Final Dividend for financial year ended March 31, 2026
    15 for0 against
  • Re-appointment of Mr. Krzysztof Wieslaw Jamroz (DIN: 07462321) as a Non-Executive Non-Independent Director, liable to retire by rotation.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundTransparency Concern: No clarity on time commitments, whether his two full-time positions are in entities having substantial stake in each other or not?
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concerns on merit, profile and attendance of director. Transparency Concern: No clarity on time commitments, whether his two full-time positions are in entities having substantial stake in each other or not?
    11 for4 against
  • Appointment of Mr. William Poole VIII (DIN: 03533109) as an Independent Director of the Company for a term of three years.
    15 for0 against
  • Ratification of Remuneration payable to M/s. S K Agarwal & Associates, Cost Accountants as for financial year ended March 31, 2027.
    15 for0 against
  • Approval of Borrowing Limits of the Company pursuant to Section 180 (1) (c) of the Companies Act, 2013
    3 for0 against
  • Approval of limits for creation of mortgage or charge on the assets, properties or undertaking(s) of the Company
    15 for0 against
1 proposal not matched to one resolution
  • To borrow any sum or sums of monies from time to time for the purpose of the Company’s business, with or without security from any Bank, Financial Institutions or any other Lending Institutions, Firms, Bodies Corporate or Persons, of India or otherwise from any foreign parties/entities subject to the provisions of the FDI Regulations and/or FEMA Regulations, from time to time, as may be considered appropriate and suitable by the Board, provided that the sum or sums of monies to be borrowed, together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business), does not exceed the aggregate of the Paid-up Capital, the Free-reserves and Securities Premium of the Company, or such other higher limit as may be allowed under the law and for the time being in force.MoreLess
    12 for0 against

Mutual fund votes, meeting of 24 Mar 2026, 16 fund houses

  • Appointment of Ms. Vidya Krishnan (DIN: 09669166) as an Independent Director of the Company
    16 for0 against

Mutual fund votes, meeting of 22 Aug 2025, 15 fund houses

6 proposals

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

  • Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2025
    14 for0 against
  • Confirmation of Interim Dividend of ₹ 3.25 per fully paid-up equity share and Special (Interim) Dividend of ₹ 3.00 per fully paid-up equity share, declared for financial year ended March 31, 2025 and Approval of additional Final Dividend of ₹ 3.25 per fully paid-up equity share for financial year ended March 31, 2025MoreLess
    15 for0 against
  • Reappointment of Mrs. Shyamala Gopinath (DIN: 02362921) as a Non-Executive Non-Independent Director, liable to retire by rotation
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Cooling off period of 1 year not served after completion of term as Independent Director and appointment as Non-Executive -Non-independent Director.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No Concern on merits of the appointee. Governance concern: Cooling off period of 1 year not served after completion of term as ID and appointment as NE-NID.
    11 for4 against
  • Appointment of M/s. Siroya and BA Associates, a firm of Practicing Company Secretaries, as the Secretarial Auditors of the Company for a term of 5 (five) years
    15 for0 against
  • Ratification of remuneration of ₹ 1,25,000 payable to M/s. S K Agarwal & Associates, Cost Accountants for financial year ended March 31, 2026
    15 for0 against
1 proposal not matched to one resolution
  • Accept Financial Statements and Statutory Reports
    1 for0 against

Mutual fund votes, meeting of 20 Jun 2025, 15 fund houses

1 proposal
  • Appointment of Mr. Vishnu Jerome (DIN: 05325285) as an Independent Director
    15 for0 against

Mutual fund votes, meeting of 17 Feb 2025, 14 fund houses

1 proposal
  • Appointment of Mr. Sunil Mehta (DIN: 07430460) as an Independent Director of the Company for a term of 5 (Five) years from December 6, 2024 to December 5, 2029.
    14 for0 against

Mutual fund votes, meeting of 6 Aug 2024, 13 fund houses

6 proposals
  • Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended 31st March, 2024.
    13 for0 against
  • Confirmation of interim dividend of Rs. 2.50 per equity share and Approval of final dividend of Rs. 3.25 per equity share for F.Y. ended 31st March, 2024.
    13 for0 against
  • Reappointment of Krzysztof Wieslaw Jamroz (DIN: 07462321) as Non-Executive Non-Independent Director, liable to retire by rotation.
    13 for0 against
  • Ratification of remuneration of Rs. 1,25,000 payable to M/s. S.K. Agarwal & Associates, as Cost Accountants for F.Y. ended 31st March, 2025
    13 for0 against
  • Approval for reclassification of authorized share capital and consequent alteration to Clause V (Capital Clause) of Memorandum of Association of the Company .
    13 for0 against
  • Approval for Alteration of Articles of Association of the Company.
    13 for0 against

Mutual fund votes, meeting of 2 Mar 2024, 10 fund houses

2 proposals
  • Re-appointment of Mrs. Manju Agarwal as an Independent Director for a further term of three years
    Against 360 One Mutual Fund, Bank of India Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Quantum Mutual Fund, SBI Mutual Fund, WhiteOak Capital Mutual Fund
    • 360 One Mutual FundWe raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified by Comprehensive System Audit and compliance validation report by the external auditors. Given these governance concerns, we are unable support her reappointment.
    • Bank of India Mutual Fund, WhiteOak Capital Mutual FundMs. Manju Agarwal, 66, is retired Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She attended all five board meetings held in FY23 and all four board meetings held in FY24 till the date of the notice. We raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. The Reserve Bank of India, on 31 January 2024, directed PPBL to stop accepting any deposits/ credit transactions/ top ups/ in customer accounts, prepaid instruments, wallets, FASTags, etc. after 29 February 2024 (now extended till 15 March 2024) among other restrictions. RBI cited persistent non-compliances and continued material supervisory concerns in the bank as identified by Comprehensive System Audit and compliance validation report by the external auditors. Given these governance concerns, we are unable support her reappointment. Further, the company should have sought shareholder approval prior to completion of her first term as Independent Director.
    • Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliance with section 149 of the Companies Act, 2013: Prior approval of shareholders not obtained for re-appointment. Governance concern: Director has failed in her fiduciary duty towards minority shareholders and safeguard their interest.
    • PPFAS Mutual FundThe candidate proposed for reappointment to the Director position may not have fully met their responsibilities while serving as an Independent Director at a different company
    • Quantum Mutual FundWe do not have any concern w.r.t. attendance record and time commitments of Mrs. Manju Agarwal. However, it may be noted that she has been associated with a company which has been under scrutiny of the regulator and has received multiple notices from the regulator on the ground of procedural lapses. Despite the notices, the management has failed to take stringent steps to address the issues. Therefore, we do not favour her re-appointment as independent director.
    • SBI Mutual FundMs. Manju Agarwal, 66, is retired Deputy Managing Director (Digital Banking and New Businesses), State Bank of India (SBI). She attended all five board meetings held in FY23 and all four board meetings held in FY24 till the date of the notice. We raise concern that she was an Independent Director on the board of Paytm Payments Bank Ltd. (PPBL) from May 2021 till her resignation on 1 February 2024 (citing personal commitments). She was also a member of the audit committee of PPBL. We also observe that she sits on the board of PolyCab India Ltd which was recently raided by the Income Tax Department with respect to unaccounted cash sales" of ₹1,000 crore (approximately). Given these governance concerns, we are unable support her reappointment.
    2 for8 against
  • Re-appointment of Ms. Sayali Karanjakar as an Independent Director of the Company for a further term of two years
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliance with section 149 of the Companies Act, 2013: Prior approval of shareholders not obtained for re-appointment.
    8 for2 against

Mutual fund votes, meeting of 6 Sep 2023, 6 fund houses

5 proposals
  • To receive, consider and adopt the:na) Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2023 together with the reports of the Board of Directors and Auditors thereon; andnb) Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 together with the report of the Auditors thereon.MoreLess
    6 for0 against
  • To declare Final Dividend of Rs. 4.75 per fully paid equity share i.e 47.5% for the financial year ended 31st March, 2023.
    6 for0 against
  • To Re-appoint Mr. Ashish Agrawal (DIN: 00163344) as Director, who retires by rotation at this Annual General Meeting (AGM) and, being eligible, offers himself for re-appointment.
    6 for0 against
  • To consider and approve the re-appointment of M/s BSR & Co. LLP, Chartered Accountants (Firm Registration No: 101248W/W-100022) as statutory auditors of the company for a 2nd consecutive term of 5 yearsMoreLess
    6 for0 against
  • To ratify the remuneration payable to the Cost Auditor appointed by the Board of Directors of the Company for the financial year 2023-24
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Extension of scheme to employees of group / holding / associate companies without compelling reasons / cost not reimbursed to the Company.
    5 for1 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 penaltyNational Stock Exchange LimitedSince 8 Jul 2026

    Imposition of a fine aggregating to ₹5,900/- (Base fine of ₹5,000/- plus 18% GST of ₹900/-) for non-compliance under Regulation 17(1) of SEBI (LODR) Regulations, 2015

    Delay of 1 day (on January 01, 2026) in complying with Regulation 17(1)(a) (minimum 1 Independent Woman Director) and Regulation 17(1)(c) (minimum 6 Directors) read with Regulation 17(1E) of the SEBI (LODR) Regulations, 2015 following the completion of the tenure of Non-Executive Independent Director Mrs. Sayali Karanjkar on December 31, 2025, the Board strength was reduced to 5 directors. The resulting vacancy was filled by appointing Mrs. Vidya Krishnan as an Independent Director effective January 02, 2026, causing a 1-day non-compliance.MoreLess

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
22Dec 2400Mar 2500Jun 2511Sep 2500Dec 2500Mar 2644Jun 2622Sep 26

Open at the quarter's end

0Dec 240Mar 250Jun 250Sep 250Dec 250Mar 260Jun 260Sep 26
None open at any 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.