Suzlon Energy MD, chairman and AGM

• To consider and approve the Scheme of Arrangement in the nature of Reorganisation and Reclassification of Reserves of Suzlon Energy Limited and its Shareholders and Creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013MoreLess

  34 for0 against

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

• To adopt Financial Statements, etc. for the financial year 2024-25

  27 for0 against
• To re-appoint Mr. Girish R.Tanti as Director

  29 for0 against
• To approve remuneration of the Cost Auditors for the financial year 2025-26

  29 for0 against
• To appoint M/s. Chirag Shah and Associates, Company Secretaries, as the Secretarial Auditors of the Company

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: One person has been authorised to fix the remuneration of proposed Auditors for future years.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed Secretarial Auditors. Governance Concern: One person has been authorised to fix the remuneration of proposed Auditors.
  • LIC Mutual FundGovernance Concern: One person has been authorised to fix the remuneration of proposed Auditors.

  21 for8 against
• To approve re-appointment of Mr. Vinod R.Tanti as the Managing Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundHolds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual; No absolute cap on variable pay or total remuneration.
  • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed director. Governance concern: Holds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual; No absolute cap on variable pay or total remuneration.
  • Invesco Mutual FundVinod R. Tanti, 63, part of the promoter family, has been on the board since 2010 and attended all six board meetings. His FY25 remuneration- including Rs. 10.5 mn performance incentive (23% of total pay), aggregated Rs. 65.4 mn. The proposed remuneration for FY26 aggregates Rs. 150.4 mn, which is higher than peers and not commensurate with the size of the company. With performance-based incentive being open-ended and profit percentages increasing annually from 0.5% of post-tax profits in the first year, increasing linearly to 0.9% of post-tax profits in the fifth year, remuneration during his tenure could be significantly higher. Given the lack of an absolute cap on overall remuneration, we do not support the resolution. The company must explain the rationale of the steady step-up in incentive percentages linked to profits. Also, performance metrics that govern variable pay must be disclosed. We do not support this resolution. This is in line with our ESG framework.
  • Jio BlackRock Mutual Fund, Sundaram Mutual FundVinod R. Tanti, 63, part of the promoter family, has been on the board since 2010 and attended all six board meetings. His FY25 remuneration- including Rs. 10.5 mn performance incentive (23% of total pay), aggregated Rs. 65.4 mn. The proposed remuneration for FY26 aggregates Rs. 150.4 mn, which is higher than peers and not commensurate with the size of the company. With performance-based incentive being open-ended and profit percentages increasing annually from 0.5% of post-tax profits in the first year, increasing linearly to 0.9% of post-tax profits in the fifth year, remuneration during his tenure could be significantly higher. Given the lack of an absolute cap on overall remuneration, we do not support the resolution. The company must explain the rationale of the steady step-up in incentive percentages linked to profits. Also, performance metrics that govern variable pay must be disclosed.
  • LIC Mutual FundGovernance concern: Holds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual; No absolute cap on variable pay or total remuneration.
  • Nippon India Mutual FundGovernance concern: Holds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual

  16 for13 against
• To approve re-appointment of Mr. Girish R.Tanti as the Executive Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundNo absolute cap on variable pay or total remuneration.
  • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed director. Governance concern: No absolute cap on variable pay or total remuneration.
  • Invesco Mutual FundGirish R. Tanti’s reappointment as Executive Director is in line with statutory requirements. For FY25, he did not draw any remuneration, except Rs. 0.75 mn as sitting fees. The proposed remuneration for FY26 aggregates Rs. 150.4 mn, which is higher than peers and not commensurate with the size of the company. With performance-based incentive being open-ended and profit percentages increasing annually from 0.5% of post-tax profits in the first year, increasing linearly to 0.9% of post-tax profits in the fifth year, remuneration during his tenure could be significantly higher. Given the lack of an absolute cap on overall remuneration, we do not support the resolution. The company must explain the rationale of the steady step-up in incentive percentages linked to profits. Also, performance metrics that govern variable pay must be disclosed. We do not support the resolution. This is in line with our ESG framework.
  • Jio BlackRock Mutual Fund, Mahindra Manulife Mutual Fund, Sundaram Mutual FundGirish R. Tanti’s reappointment as Executive Director is in line with statutory requirements. For FY25, he did not draw any remuneration, except Rs. 0.75 mn as sitting fees. The proposed remuneration for FY26 aggregates Rs. 150.4 mn, which is higher than peers and not commensurate with the size of the company. With performance-based incentive being open-ended and profit percentages increasing annually from 0.5% of post-tax profits in the first year, increasing linearly to 0.9% of post-tax profits in the fifth year, remuneration during his tenure could be significantly higher. Given the lack of an absolute cap on overall remuneration, we do not support the resolution. The company must explain the rationale of the steady step-up in incentive percentages linked to profits. Also, performance metrics that govern variable pay must be disclosed.
  • LIC Mutual Fund, Nippon India Mutual FundGovernance concern: No absolute cap on variable pay or total remuneration.

  15 for14 against

• To appoint Mr. Sameer Shah as an Independent Director of the Company for a second term of three years

  24 for0 against
• To appoint Mrs. Seemantinee Khot as an Independent Director of the Company for a second term of three years

  24 for0 against

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

• To adopt Financial Statements, etc. for the financial year 2023-24

  21 for0 against
• To re-appoint Mr. Pranav T.Tanti as Director

  22 for0 against
• To approve remuneration of the Cost Auditors for the financial year 2024-25

  22 for0 against
• To approve payment of remuneration to the Independent Directors of the Company

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mahindra Manulife Mutual Fund, Nippon India Mutual Fund, Trust Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Nippon India Mutual Fund, Trust Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Quantum of remuneration linked to association with the Company instead of objective performance criteria.
  • Kotak Mahindra Mutual FundThe company proposes to pay a one-time ex-gratia amount to all the Independent Directors on board till 24 May 2024. The amount per director is Rs. 8,00,000 for every year of association and aggregates Rs. 25.6mn. Since the proposed remuneration is in excess of limits prescribed under Schedule V of the act, voting against. Moreover, any remuneration payable to IDs, apart from sitting fees, must be linked with their performance.
  • Mahindra Manulife Mutual FundGovernance Concern: Quantum of remuneration linked to association with the Company instead of objective performance criteria. The proposed remuneration is in excess of limits prescribed under Schedule V. Only some of the stakeholders of the Company have been rewarded at the conclusion of a profitable year. In this regard, it is noted that the Company has not paid any dividend for the financial year 2023-24. During FY 18 till FY 21, the Indian wind energy industry faced significant challenges due to the transition from the feed-in tariff (FIT) regime to competitive bidding, which led to reduced volumes and shrinking margins and heavily impacted the Company’s profitability. The Company has been operating on a going concern basis, up to FY 2022.

  14 for8 against

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

• To adopt Financial Statements, etc. for the financial year 2022-23

  14 for0 against

  1 abstained

• To re-appoint Mr. Girish R.Tanti as Director

  15 for0 against

  1 abstained

• To re-appoint Mr. Vinod R.Tanti as Director

  ›Against Motilal Oswal Mutual Fund

  • Motilal Oswal Mutual FundCompliant with law. No concern on the merit of appointee. Governance Concern: Holding position of Chairman and MD.

  14 for1 against

  1 abstained

• To approve remuneration of the Cost Auditors for the financial year 2023-24

  15 for0 against

  1 abstained

• To approve conversion of loans into Equity shares

  15 for0 against

  1 abstained

• To approve issue of Securities of the Company

  10 for0 against