Metropolis Healthcare MD, chairman and AGM

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

• To receive, consider and adopt the Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2025, together with the Reports of the Board of Directors and Auditors thereonMoreLess

  24 for0 against
• To consider appointment of a Director in place of Mr. Hemant Sachdev (DIN: 01635195), who retires by rotation and being eligible, offers himself for the re-appointment

  ›Against Axis Mutual Fund, Mirae Asset Mutual Fund

  • Axis Mutual FundHemant Sachdev, 49, is the son-in-law of Dr. Sushil Shah (promoter and Non-Executive Director) and the spouse of Ms. Ameera Shah (Wholetime Director and Chairperson). He is a first-generation entrepreneur with over two decades of experience in retail, distribution, and education. He attended five out of six (83%) board meetings in FY25 and 68% of the meetings held over the last three years. The company has clarified that the meetings missed in FY23 and FY24 were largely outside the annual board meeting calendar and, in some cases, held at shorter notice. While his reappointment is in line with statutory requirements, we have a threshold of 75% attendance over a three-year period under our policy. Thus, we are unable to support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  22 for2 against
• To consider appointment of a Director in place of Ms. Ameera Shah (DIN: 00208095), who retires by rotation and being eligible, offers herself for the reappointment

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Combined position of Executive Chairperson may lead to concentration of power in the hands of a single individual.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Combined position of Executive Chairperson.

  19 for5 against
• To ratify the remuneration payable to M/s. Joshi Apte & Associates, Cost Auditors of the Company for the financial year 2025-26

  24 for0 against
• To approve the re-appointment of Ms. Ameera Shah (DIN:00208095) as Chairperson & Whole-time Director of the Company and the terms of remuneration

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Combined position of Executive Chairperson may lead to concentration of power in the hands of a single individual.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Combined position of Executive Chairperson.

  19 for5 against
• To approve the remuneration payable to Dr. Sushil Shah as Non-Executive Non-Independent Director

  ›Against Franklin Templeton Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the proposed quantum of remuneration is deemed high for a non-executive role and the pay structure comprises a fixed element, which is more indicative of an executive role within the company.

  23 for1 against
• To appoint M/s. Manish Ghia & Associates, Company Secretaries as Secretarial Auditors of the Company

  24 for0 against
• To approve the Metropolis – Employees Stock Options Plan, 2025 for the eligible employees of the Company

  24 for0 against
• To approve extension of the Metropolis – Employees Stock Options Plan, 2025 to the eligible employees of the Subsidiary(ies) of the Company

  24 for0 against
• To approve the Metropolis – Restrictive Stock Units Plan, 2025 for the eligible employees of the Company

  22 for0 against
• To approve extension of the Metropolis – Restrictive Stock Units Plan, 2025 to the eligible employees of the Subsidiary(ies) of the Company

  22 for0 against

• Appointment of Ms. Purvi Sheth (DIN: 06449636) as a Non-Executive Independent Director of the Company

  23 for0 against
• Appointment of Mr. Rehan Khan (DIN: 02616924) as a Non-Executive Independent Director of the Company

  23 for0 against
• Appointment of Mr. Surendran Chemmenkotil (DIN: 10818890) as Managing Director of the Company

  ›Against Axis Mutual Fund, Canara Robeco Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund

  • Axis Mutual Fund, Canara Robeco Mutual FundSurendran Chemmenkotil, 58, has been the CEO of Metropolis Healthcare Limited since January 2023. The company proposes to appoint him as Managing Director from June 2025. As CEO, he was paid Rs. 146.1 mn and Rs. 144.9 mn for FY24 and FY25, respectively, including the fair value of restricted stock units (RSUs). Based on the proposed terms, his FY26 pay is estimated at Rs. 59.2 mn, excluding RSUs and a one-time bonus. While the one-time bonus is capped at 10% of his compensation, there is no clarity on RSUs – the company has only disclosed the grants made to him as CEO. Given that he is being designated as MD, the company should have provided guidance on the expected value of stock options/units for the proposed tenure, especially since RSUs constituted ~65% of his overall pay in the past. In the absence of clarity, we are unable to assess his overall pay and thus do not support the resolution. Additionally, the company must disclose how the Nomination and Remuneration Committee has benchmarked his compensation against peers in comparable roles and industries. The company should have also disclosed the performance metrics that determine his variable pay.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance Concern: Inadequate disclosure

  19 for4 against

• To issue, offer and allot Equity Shares on a Preferential Basis

  ›Against Axis Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund

  • Axis Mutual FundThe company in December 2024, approved acquisition of 100% equity stake in Core Diagnostics Private Limited (Core Diagnostics) for a total maximum consideration of Rs. 2.47 bn - 45% to be funded by the proposed preferential allotment to CDPL and 55% to be funded by cash. The proposed allotment will be made to CDPL – the shareholder, comprising private equity investors Artiman Ventures and Eight Roads. We acknowledge that the acquisition of Core Diagnostics will result in growth in Metropolis’ business, through enhancement in advanced cancer testing and deepening its presence in north and east India. Furthermore, the dilution on account of the proposed equity preferential allotment is low at 1.0%. However, other than the business profile and three-year revenue trajectory of Core Diagnostics, there is no disclosure on the financial profile of Core Diagnostics. In the absence of financial information, we are unable to ascertain the financial impact of the acquisition on Metropolis’ business. We also note that the company has stated that the purchase consideration has been derived on the basis of a valuation report, however, the company has not disclosed the valuation report. Given the lack of clarity on the financial impact of the acquisition, we do not support the resolution.
  • Invesco Mutual FundThe company in December 2024, approved acquisition of 100% equity stake in Core Diagnostics Private Limited (Core Diagnostics) for a total maximum consideration of Rs. 2.47 bn - 45% to be funded by the proposed preferential allotment to CDPL and 55% to be funded by cash. The proposed allotment will be made to CDPL – the shareholder, comprising private equity investors Artiman Ventures and Eight Roads. We acknowledge that the acquisition of Core Diagnostics will result in growth in Metropolis’ business, through enhancement in advanced cancer testing and deepening its presence in north and east India. Furthermore, the dilution on account of the proposed equity preferential allotment is low at 1.0%. However, other than the business profile and three-year revenue trajectory of Core Diagnostics, there is no disclosure on the financial profile of Core Diagnostics. In the absence of financial information, we are unable to ascertain the financial impact of the acquisition on Metropolis’ business. We also note that the company has stated that the purchase consideration has been derived on the basis of a valuation report, however, the company has not disclosed the valuation report. Given the lack of clarity on the financial impact of the acquisition, we do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  20 for3 against

• Adoption of Audited Financial Statements of the Company (including consolidated financial statements) for the financial year ended March 31, 2024, together with the Reports of the Board of Directors and Auditors thereonMoreLess

  20 for0 against
• Confirmation of Interim Dividend of INR 4/- (Indian Rupees Four Only) per equity share, declared by the Board as the final dividend for the financial year 2023-24.

  20 for0 against
• Appointment of a Director in place of Dr. Sushil Shah (DIN: 00179918), who retires by rotation and being eligible, offers himself for the re-appointment.

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Sundaram Mutual FundDr. Sushil Shah, 77, is the founder and Former Executive Chairperson of Metropolis Healthcare Ltd. The board approved his appointment as Chairperson Emeritus from 22 May 2024 and thus, he currently serves as Wholetime Director and Chairperson Emeritus. He retires by rotation through resolution #3 and through resolution #5, the company seeks to redesignate him as Non-Executive Non-Independent Director, liable to retire by rotation. Effectively from the conclusion of the AGM (subject to shareholder approval), he will serve as Non-Executive Director and Chairperson Emeritus. He attended all six board meetings held in FY24. While his reappointment is in line with statutory requirements, we believe that ‘Chairperson Emeritus’ is an honorary role and not a board position. We do not support appointment of directors continuing to hold board seats while holding the designation of Chairperson Emeritus. Thus, even while we support Dr. Sushil Shah’s directorship, we are unable to support the resolution given his designation of Chairperson Emeritus.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundCompliant with law. Governance Concern: Holds Dual Position - Director and Chairman Emeritus.
  • Invesco Mutual FundDr. Sushil Shah, 77, is the founder and Former Executive Chairperson of Metropolis Healthcare Ltd. The board approved his appointment as Chairperson Emeritus from 22 May 2024 and thus, he currently serves as Wholetime Director and Chairperson Emeritus. He retires by rotation through resolution #3 and through resolution #5, the company seeks to redesignate him as Non-Executive Non-Independent Director, liable to retire by rotation. Effectively from the conclusion of the AGM (subject to shareholder approval), he will serve as Non-Executive Director and Chairperson Emeritus. He attended all six board meetings held in FY24. While his reappointment is in line with statutory requirements, we believe that ‘Chairperson Emeritus’ is an honorary role and not a board position. We do not support appointment of directors continuing to hold board seats while holding the designation of Chairperson Emeritus. Thus, even while we support Dr. Sushil Shah’s directorship, we are unable to support the resolution given his designation of Chairperson Emeritus
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  9 for11 against
• Ratification of the remuneration payable to M/s. Joshi Apte & Associates, Cost Auditors of the Company for the financial year 2024-25

  20 for0 against
• Approval of change in designation of Dr. Sushil Shah from Whole-Time Director to Non-Executive Non-Independent Director of the Company.

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Sundaram Mutual FundDr. Sushil Shah, 77, is the founder and Former Executive Chairperson of Metropolis Healthcare Ltd. The board approved his appointment as Chairperson Emeritus from 22 May 2024 and thus, he currently serves as Wholetime Director and Chairperson Emeritus. He has crossed the age of 75 – we do not consider age to be a criterion for board memberships. Effectively from the conclusion of AGM (subject to shareholder approval), he will serve as Non-Executive Director and Chairperson Emeritus. He attended all six board meetings held in FY24. While his redesignation is in line with statutory requirements, we believe that ‘Chairperson Emeritus’ is an honorary role and not a board position. We do not support appointment of directors continuing to hold board seats while holding the designation of Chairperson Emeritus. Thus, even while we support Dr. Sushil Shah’s directorship, we are unable to support the resolution given his designation of Chairperson Emeritus.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundCompliant with law. Governance Concern: Holds Dual Position - Director and Chairman Emeritus.
  • Invesco Mutual FundDr. Sushil Shah, 77, is the founder and Former Executive Chairperson of Metropolis Healthcare Ltd. The board approved his appointment as Chairperson Emeritus from 22 May 2024 and thus, he currently serves as Wholetime Director and Chairperson Emeritus. He has crossed the age of 75 – we do not consider age to be a criterion for board memberships. Effectively from the conclusion of AGM (subject to shareholder approval), he will serve as Non-Executive Director and Chairperson Emeritus. He attended all six board meetings held in FY24. While his redesignation is in line with statutory requirements, we believe that ‘Chairperson Emeritus’ is an honorary role and not a board position. We do not support appointment of directors continuing to hold board seats while holding the designation of Chairperson Emeritus. Thus, even while we support Dr. Sushil Shah’s directorship, we are unable to support the resolution given his designation of Chairperson Emeritus
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  9 for11 against
• Approval of the remuneration payable to Dr. Sushil Shah as Non-Executive Non-Independent Director of the Company.

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Sundaram Mutual FundDr. Sushil Shah, 77, is the founder and Former Executive Chairperson of Metropolis Healthcare Ltd. The board approved his appointment as Chairperson Emeritus from 22 May 2024 and thus, he currently serves as Wholetime Director and Chairperson Emeritus. Effectively from the conclusion of AGM (subject to shareholder approval), he will transition to the role of Non-Executive Director and Chairperson Emeritus. The company seeks approval to pay him consultancy fees of Rs. 18.0 mn per annum, which is reasonable given his role as founder in providing strategic direction to the company. However, we believe that ‘Chairperson Emeritus’ is an honorary role and not a board position. We do not support appointment of directors continuing to hold board seats while holding the designation of Chairperson Emeritus. Thus, we are unable to support any remuneration to Dr. Sushil Shah till he continues to serve in the dual position as a director and Chairperson Emeritus. Further, the company has not defined a tenure for the proposed resolution and thus, the resolution is effectively valid in perpetuity. We do not support such proposals as they prevent shareholders from periodically voting upon such payments.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundCompliant with law. Governance Concern: Holds Dual Position - Director and Chairman Emeritus.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because: • The proposed quantum of remuneration is deemed high for a non-executive role and the pay structure comprises a fixed element, which is more indicative of an executive role within the company. • The articulated role of the nominee is generic in nature and reflects the expected duty of any non-executive director.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  8 for12 against
• Approval of the change in designation of Ms. Ameera Shah from Managing Director to Whole-Time Director in the capacity of Chairperson of the Company and revision in terms of remuneration.

  ›Against Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund

  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Combined position of Executive Chairman.

  15 for5 against
• Approval of the appointment of Dr. Aparna Rajadhyaksha as Non-Executive Director of the Company.

  20 for0 against
• Approval of the revision in the pool size of Restrictive Stock Units (RSUs) and other terms of Metropolis –Restrictive Stock Unit Plan – 2020.

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual FundThe company seeks shareholder approval to increase the pool size of MHL RSU 2020 to 520,000 from 370,000. The proposed increase represents 0.29% of the paid-up capital on 31 March 2024. The company also seeks shareholder approval to remove the lock-in-period requirement under MHL RSU 2020, which is in line with market practice. The past grants under MHL RSU 2020 were made at face value of Rs. 2.0. We do not favour stock option schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to detailed performance parameters, which must be disclosed in the shareholder notice and must align to shareholder interests. The company must also disclose specific pre-defined performance targets for such parameters. In the current case, the NRC has the authority to determine performance parameters and targets. In absence of granular clarity on such parameters and targets, we are unable to support the resolution.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Non-disclosure of Exercise price. Governance Concern: Potential maximum benefits to a single employee.
  • Edelweiss Mutual FundWill lead to dilution of shares
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The scheme provides flexibility for grant of stock options with an exercise price at a deep discount to the market price on grant date. • There are inadequate disclosures to determine the metric used to evaluate vesting of RSUs. • The proposal include grant of units to employees of associate companies without a compelling rationale.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
  • Invesco Mutual FundThe company seeks shareholder approval to increase the pool size of MHL RSU 2020 to 520,000 from 370,000. The proposed increase represents 0.29% of the paid-up capital on 31 March 2024. The company also seeks shareholder approval to remove the lock-in-period requirement under MHL RSU 2020, which is in line with market practice. The past grants under MHL RSU 2020 were made at face value of Rs. 2.0. We do not favour stock option schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to detailed performance parameters, which must be disclosed in the shareholder notice and must align to shareholder interests. The company must also disclose specific pre-defined performance targets for such parameters. In the current case, the NRC has the authority to determine performance parameters and targets. In absence of granular clarity on such parameters and targets, we are unable to support the resolution
  • Kotak Mahindra Mutual FundThe company seeks shareholder approval to increase the pool size of MHL RSU 2020 to 520,000 from 370,000. The proposed increase represents 0.29% of the paid-up capital on 31 March 2024. The company also seeks shareholder approval to remove the lockin-period requirement under MHL RSU 2020, which is in line with market practice. The past grants under MHL RSU 2020 were made at face value of Rs. 2.0. We do not favour stock option schemes where options are granted at a significant discount to market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to detailed performance parameters, which must be disclosed in the shareholder notice and must align to shareholder interests. The company must also disclose specific pre-defined performance targets for such parameters. In the current case, the NRC has the authority to determine performance parameters and targets. In absence of granular clarity on such parameters and targets, we are unable to support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Sundaram Mutual Fund"The company seeks shareholder approval to increase the pool size of MHL RSU 2020 to 520,000 from 370,000. The proposed increase represents 0.29% of the paid-up capital on 31 March 2024. The company also seeks shareholder approval to remove the lock-in-period requirement under MHL RSU 2020, which is in line with market practice. The past grants under MHL RSU 2020 were made at face value of Rs. 2.0. We do not favour stock option schemes where options are granted at a significant discount (>20%) to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is mandatorily linked to detailed performance parameters, which must be disclosed in the shareholder notice and must align to shareholder interests. The company must also disclose specific pre-defined performance targets for such parameters. In the current case, the NRC has the authority to determine performance parameters and targets. In absence of granular clarity on such parameters and targets, we are unable to support the resolution."

  5 for15 against
• Approval of extension of the Metropolis-Restrictive Stock Unit Plan, 2020 to the eligible employees of the Subsidiary(ies) and/or Associate Company(ies), if any, of the Company.

  ›Against Axis Mutual Fund, Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, JM Financial Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, DSP Mutual Fund, Kotak Mahindra Mutual Fund, Sundaram Mutual FundOur view is linked to resolution #9. Further, we do not support extension of ESOP/ RSU schemes to employees of associate companies. We do not support the resolution.
  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundInterlinked with Resolution #9 & Governance Concern: Benefit extended to Associate Companies without justification or cost reimbursement provision.
  • Edelweiss Mutual FundWill lead to dilution of shares
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The scheme provides flexibility for grant of stock options with an exercise price at a deep discount to the market price on grant date. • There are inadequate disclosures to determine the metric used to evaluate vesting of RSUs. • The proposal include grant of units to employees of associate companies without a compelling rationale.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
  • Invesco Mutual FundOur view is linked to resolution #9. Further, we do not support extension of ESOP/ RSU schemes to employees of associate companies. We do not support the resolution
  • JM Financial Mutual Fund, Nippon India Mutual FundGovernance Concern: Benefit extended to Associate Companies without justification or cost reimbursement provision.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  5 for15 against

• Appointment of Mr. Subramanian Ranganathan (DIN: 00125493) as a Non-Executive Independent Director of the Company

  17 for0 against

• Adoption of Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and the Auditors thereon

  18 for0 against
• Confirmation of payment of Interim Dividend of Rs. 8/- (Rupees Eight Only) per equity share for the financial year ended March 31, 2023

  18 for0 against
• Appointment of Mr. Hemant Sachdev (DIN: 01635195) as a Director of the Company, who retires by rotation, and being eligible offered herself for re-appointment

  ›Against Axis Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Sundaram Mutual FundHemant Sachdev, 47, is the spouse of Managing Director: Ms. Ameera Shah. Public sources suggest that he is the founder of Chogori India Retail Ltd. He attended four out of seven (57%) board meetings held in FY23 and seven out of eleven (64%) board meetings held since his appointment in May 2021. We expect directors to take their responsibilities seriously and attend all board meetings. We have a threshold of 75% for board meeting attendance. Given his low attendance, we are unable to support his reappointment.
  • Edelweiss Mutual Fundhe is liable to retire by rotation/ reappointment hasn’t been justfied with valid reason
  • Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted because Hemant Sachdev has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
  • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: Hemant Sachdev has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
  • Invesco Mutual FundHemant Sachdev, 47, is the spouse of Managing Director: Ms. Ameera Shah. Public sources suggest that he is the founder of Chogori India Retail Ltd. He attended four out of seven (57%) board meetings held in FY23 and seven out of eleven (64%) board meetings held since his appointment in May 2021. We expect directors to take their responsibilities seriously and attend all board meetings. We have a threshold of 75% for board meeting attendance. Given his low attendance, we are unable to support his reappointment

  12 for6 against
• Ratify the remuneration payable to M/s. Joshi Apte & Associates, Cost Auditors of the Company for the Financial Year 2023-24

  18 for0 against
• Re-appointment of Mr. Sanjay Bhatnagar, (DIN: 00867848) as an Independent Director of the Company for a second term of five consecutive years

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted because Sanjay Gopal Bhatnagar has failed to attend at least 75 percent of board and committee meetings in the most recent fiscal year, without a satisfactory explanation.
  • HSBC Mutual FundWe have concerns about the director's attendance at board meetings

  16 for2 against
• Re-appointment of Mr. Vivek Gambhir, (DIN: 06527810) as an Independent Director of the Company for a second term of five consecutive years

  18 for0 against