JK Paper CEO, chairman, board of directors and AGM

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

• Consideration and adoption of (a) the audited standalone financial statements of the Company for the financial year ended 31st March 2025 and the Reports of the Auditors and Board of Directors thereon; and (b) the audited consolidated financial statements of the Company for the financial year ended 31st March 2025 and the Report of the Auditors thereon.MoreLess

  11 for0 against
• Declaration of Dividend of Rs. 5/- (50%) per equity shares for the financial year ended 31st March 2025

  11 for0 against
• Appointment of Shri A.S. Mehta (DIN: 00030694), Director of the Company, liable to retire by rotation and being eligible, offers himself for re-appointment.

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundA vote AGAINST this resolution is warranted given that Amar Singh Mehta is an executive director serving onthe audit committee, and that he is a non-independent director nominee while the board independence is lessthan adequate (based on ISS re-classification).

  10 for1 against
• Ratification of remuneration payable to M/s R.J. Goel & Co., Cost Auditor for the financial year 2025-26.

  11 for0 against
• Appointment of Shri Namo Narain Aggarwal (CP 3331, FCS 234, PR 1885/2022) as Secretarial Auditor for a term of 5 consecutive years, commencing form financial year 2025-26.

  11 for0 against
• Re-appointment of Shri Anoop Seth (DIN: 00239653) as Independent Director of the Company for a second term of 5 consecutive years w.e.f. 27th September 2025.

  11 for0 against
• Approval for borrowing of upto Rs. 5,000 crore under Section 180(1)(c) of the Companies Act, 2013.

  ›Against Angel One Mutual Fund, Groww Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Majority of the Existing Borrowing Limit is unutilized and no specific reasons/justification provided for the proposed increase without utilizing the existing limit.
  • Groww Mutual Fund, Navi Mutual FundCompliant with the law. Governance Concern: The Majority of the Existing Borrowing Limit is unutilized and no specific reasons/justification provided for the proposed increase without utilizing the existing limit.

  8 for3 against
• Approval for creation of security upto Rs. 5,000 crore under Section 180(1)(a) of the Companies Act, 2013.

  ›Against Angel One Mutual Fund, Groww Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Majority of the Existing Borrowing Limit is unutilized and no specific reasons/justification provided for the proposed increase without utilizing the existing limit.
  • Groww Mutual Fund, Navi Mutual FundCompliant with the law. Governance Concern: The Majority of the Existing Borrowing Limit is unutilized and no specific reasons/justification provided for the proposed increase without utilizing the existing limit.

  6 for3 against

• Consideration and adoption of (a) the audited standalone financial statements of the Company for the financial year ended 31st March 2024 and the Reports of the Auditors and Board of Directors thereon; and (b) the audited consolidated financial statements of the Company for the financial year ended 31st March 2024 and the Report of the Auditors thereon.MoreLess

  15 for0 against
• Confirmation of payment of Interim Dividend and Declaration of Final Dividend

  15 for0 against
• Shri Dhirendra Kumar(DIN:00153773), Director of the Company, liable to retire by rotation, and does not offer himself for re-appointment

  15 for0 against
• Retification of remuneration payable to M/s R. J. Goel & Co. Cost Auditors for the financial Year 2024-25

  15 for0 against
• Redesignation of Shri S.K. Roongta(DIN:00309302) as an Independent Director of the Company, for a term of 5 consecutive years with effect from 23rd August 2024 and continuation of his appointment as an Independent Director of the Company on attaining the age of 75 years.MoreLess

  ›Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Axis Mutual FundS.K. Roongta, 74, is the former Executive Chairperson of SAIL. He has experience in public sector undertakings in the industry. He was also Chairperson of International Coal Ventures Limited (ICVL) - a JV of five PSUs i.e. SAIL, CIL, RINL, NMDC & NTPC. He has been on the board as Non - Executive Non - Independent Director since 12 February 2019. The company seeks to redesignate him as Independent Director for five years from 23 August 2024. He attended all five board meetings held in FY24. The company has clarified that, at the time of initial appointment, he met the criteria for Independence - he was still appointed as Non-Executive Non-Independent Director at the time since the board had adequate Independent Directors at the time. Therefore, given that he still satisfies the criteria for Independence, he is being appointed as Independent Director. We note that he was appointed as Non-Executive Non-Independent Director on 12 February 2019 - he will complete 10 years of association with the company on 12 February 2029. His term as Independent Director will end on 22 August 2029. Since he will complete 10 years of association with the company, during his tenure, we are unable to support his redesignation as Independent Director.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment Complaint with Law. Governance Concern: Past Association with the Company. Minimum Cooling off period of 3 years not served. The proposed term would result in prolonged Association.
  • DSP Mutual FundS.K. Roongta, 74, is the former Executive Chairperson of SAIL. He has experience in public sector undertakings in the industry. He was also Chairperson of International Coal Ventures Limited (ICVL) – a JV of five PSUs i.e. SAIL, CIL, RINL, NMDC & NTPC. He has been on the board as Non – Executive Non – Independent Director since 12 February 2019. The company seeks to redesignate him as Independent Director for five years from 23 August 2024. He attended all five board meetings held in FY24. The company has clarified that, at the time of initial appointment, he met the criteria for Independence – he was still appointed as Non-Executive Non-Independent Director at the time since the board had adequate Independent Directors at the time. Therefore, given that he still satisfies the criteria for Independence, he is being appointed as Independent Director. We note that he was appointed as Non-Executive Non-Independent Director on 12 February 2019 - he will complete 10 years of association with the company on 12 February 2029. His term as Independent Director will end on 22 August 2029. Since he will complete 10 years of association with the company, during his tenure, we are unable to support his redesignation as Independent Director.
  • Edelweiss Mutual FundDifficult to function as Independent director for 5 years given high age
  • ICICI Prudential Mutual FundS.K. Roongta, 74, is the former Executive Chairperson of SAIL. He has experience in public sector undertakings in the industry. He was also Chairperson of International Coal Ventures Limited (ICVL) – a JV of five PSUs i.e. SAIL, CIL, RINL, NMDC & NTPC. He has been on the board as Non – Executive Non – Independent Director since February 12, 2019. The company seeks to redesignate him as Independent Director for five years from August 23, 2024 and there is no cooling off period he has served. He attended all five board meetings held in FY2024. The company is re designating him from a non executive non independent director to independent director after being in a non executive position for 5 years hence the AMC has voted against the resolution.
  • Mahindra Manulife Mutual FundGovernance Concern: Past Association with the Company. Minimum Cooling off period of 3 years not served.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundPast Association with the Company. Minimum Cooling off period of 3 years not served. The proposed term would result in prolonged Association.

  5 for10 against
• Appointment of Shri R. V. Kanoria (DIN:00003792), as Non Executive Non Independent Director of the Company, liable to retire by rotation, with effect from 4th September 2024 or conclusion of this Annual General Meeeting, Which ever is later.MoreLess

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance Concern: Cooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID.
  • Nippon India Mutual FundCooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID.

  11 for4 against
• Appointment of Shri Sandip Somany (DIN:00053597), as Non Executive Non Independent Director of the Company, liable to retire by rotation, with effect from 4th September 2024 or conclusion of this Annual General Meeeting, Which ever is later.MoreLess

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance Concern: Cooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID & two full time positions.
  • Nippon India Mutual FundCooling off period of 1 year not served after completion of term as ID, appointment as NED raises question over his independence as ID & two full time positions.

  11 for4 against
• Re-appointment of Shri A. S. Mehta (DIN: 00030694), as president & Director of the Company, for a term of 3 years with effect from 1st April 2025.

  15 for0 against
• Payment of annual remuneration to Shri Bharat Hari Singhania, Chairman and Non- Executive Director of the Company till 31st March 2024, for the financial year ended 31st March 2024.

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance concern: Skewed remuneration, Chairman related to MD, Member of NRC.
  • Nippon India Mutual FundSkewed remuneration, Chairman related to MD, Member of NRC.

  11 for4 against

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

• Payment of remuneration/fee and providing of facilities/reimbursement of expenses to Shri Bharat Hari Singhania as Chairman Emeritus & Strategic Advisor to the Board

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: No clarity on capacity in which proposed remuneration shall be paid.
  • HDFC Mutual FundThe shareholders would not get a chance to periodically review the appointment as he is being appointed as Chairman Emeritus for life
  • Nippon India Mutual FundLack of clarity

  3 for5 against

• Consideration and adoption of (a) the audited standalone financial statements of the Company for the financial year ended 31st March 2023 and the Reports of the Auditors and Board of Directors thereon; and (b) the audited consolidated financial statements of the Company for the financial year ended 31st March 2023 and the Report of the Auditors thereon.MoreLess

  8 for0 against
• Confirmation of payment of Interim Dividend and Declaration of Final Dividend.

  8 for0 against
• Re-appointment of Smt. Vinita Singhania (DIN: 00042983) as a Director of the Company liable to retire by rotation and continuation of her appointment as a Non-Executive Director of the Company on attaining the age of 75 years.MoreLess

  8 for0 against
• Ratification of remuneration payable to M/s R.J. Goel & Co., Cost Auditors, for the financial year 2023-24.

  8 for0 against
• Payment of annual remuneration to Shri Bharat Hari Singhania (DIN: 00041156), Chairman (Non-Executive Director) of the Company, for the financial year ended 31st March 2023.

  ›Against Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Motilal Oswal Mutual FundCompliant with Law. Governance concern: Skewed remuneration, Chairman related to MD, Member of NRC.
  • Nippon India Mutual FundSkewed Remuneration

  6 for2 against
• Appointment of Shri Bharat Anand (DIN: 02806475), as an Independent Director of the Company for a term of five consecutive years w.e.f. 1st July 2023.

  ›Against Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Mr. Bharat Anand, the proposed appointee, is a Partner at Khaitan & Co a firm wherein one of its Senior Partners is associated with the Trust as a trustee and the trust holds 4.97% in the Company. No clarity regarding the Voting Rights of the Trust.
  • Nippon India Mutual FundAssociation may adversely impact independence

  4 for3 against

• Appointment of Shri Anoop Seth (DIN: 00239653), by Special Resolution as an Independent Director of the Company for a term of three consecutive years w.e.f. 27th September 2022.

  4 for0 against

• Consideration and adoption of (a) the audited standalone financial statements of the Company for the financial year ended 31st March 2022 and the Reports of the Auditors and Board of Directors thereon; and (b) the audited consolidated financial statements of the Company for the financial year ended 31st March 2022 and the Report of the Auditors thereon.MoreLess

  4 for0 against
• Declaration of Dividend of Rs. 5.50/- (55%) per equity share of Rs. 10 each, for the financial year ended 31st March, 2022.

  4 for0 against
• Re-appointment of Shri Sushil Kumar Roongta (DIN: 00309302) as a Director of the Company liable to retire by rotation and continuation of his appointment as a Non-Executive Director of the Company on attaining the age of 75 years.MoreLess

  4 for0 against
• Re-appointment of M/s Lodha & Co., Chartered Accountants as Auditors of the Company for second term of five consecutive years w.e.f. conclusion of this Annual General Meeting (AGM) i.e. 61st AGM till the conclusion of 66th AGM to be held in the year 2027 and fixing their remuneration.MoreLess

  4 for0 against
• Ratification of remuneration payable to M/s R.J. Goel & Co., Cost Auditors for the financial year 2022-23.

  4 for0 against
• Approval of Material Related Party Transactions with The Sirpur Paper Mills Limited, a step down subsidiary and a related party of the Company, for an amount of upto Rs. 1300 crore annually during the financial years 2022-23 to 2026-27.MoreLess

  ›Against Nippon India Mutual Fund

  • Nippon India Mutual FundOmnibus approval for more than one year

  3 for1 against
• Approval for payment of annual remuneration to Shri Bharat Hari Singhania, Chairman (Non-Executive Director) of the Company for the financial year ended 31st March 2022.

  4 for0 against
• Appointment of Shri Harshavardhan Neotia (DIN: 00047466), as an Independent Director of the Company for a term for five consecutive years w.e.f. 29th July 2022.

  4 for0 against
• Appointment of Shri Chaitanya Hari Singhania as Vice President (Business Development) of the Company w.e.f. 7th September 2022.

  4 for0 against