Authum Investment & Infrastructure CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 31 Dec 2025, 17 fund houses

• Increase in Authorised Share Capital and consequent amendment to Clause V of Memorandum of Association of the Company

  17 for0 against
• Approval for issuance of Bonus shares

  17 for0 against

Mutual fund votes, meeting of 12 Dec 2025, 17 fund houses

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

• Approval of Authum Investment & Infrastructure Limited Employee Stock Option Scheme 2025

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundNon-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to Nomination & Remuneration Committee to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be excessive; Power to the Nomination & Remuneration Committee to accelerate vesting period.
  • Axis Mutual FundInadequate disclosure wrt exercise price; excessive potential benefit to single employee; provision of accelerated vesting
  • Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be excessive; Power to the NRC to accelerate vesting period.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPs/RSUs. We do not support the resolution.
  • ICICI Prudential Mutual FundThere is inadequate disclosure with respect to the exercise price in the ESOP plan. Hence, the AMC voted against the resolution.
  • Kotak Mahindra Mutual FundThe overall dilution of the scheme for 500,000 options is ~0.3% on the expanded capital base as on 30 September 2025. It is not clear if the vesting of options is time based, or performance based (performance metrics have not been disclosed) as decided by the Nomination and Remuneration Committee (NRC). The exercise price per option is also at the discretion of NRC. The Company has provided unfettered authority to the NRC to accelerate the vesting period of options. Hence, basis all the above concerns raised we do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Potential economic benefits to a single employee appear to be excessive; Power to the NRC to accelerate vesting period.

  1 for13 against
• Approval of Authum Investment & Infrastructure Limited Employee Stock Option Scheme 2025 (Scheme 2025) for grant of employee stock options to the eligible employees of subsidiary(ies company(ies) of Authum Investment & Infrastructure Limited under Scheme 2025MoreLess

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundNon-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to Nomination & Remuneration Committee to determine Exercise Price. Governance concern: Potential economic benefits to a single employee appear to be excessive; Power to the Nomination & Remuneration Committee to accelerate vesting period.
  • Axis Mutual FundInterlinked with resolution #1
  • Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundInterlinked with Resolution #1.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPs/RSUs. We do not support the resolution.
  • ICICI Prudential Mutual FundThrough this resolution the company proposes to extend the ESOP Scheme 2025 to the employees of its subsidiary companies. There is inadequate disclosure with respect to the exercise price in the ESOP plan. Hence, the AMC voted against the resolution.
  • Kotak Mahindra Mutual FundThrough resolution #2, the company proposes to extend the ESOP Scheme 2025 to the employees of its subsidiary companies. Our view on this resolution is linked to our view on resolution #1. We do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Potential economic benefits to a single employee appear to be excessive; Power to the NRC to accelerate vesting period.

  1 for13 against

Mutual fund votes, meeting of 17 Nov 2025, 17 fund houses

• Appointment of Mr. Rajeev RA DIN 03125952 as an Independent Director of the Company

  17 for0 against
• Approval of Material Related Party Transaction with Mentor Capital Limited

  17 for0 against
• Issuance of Non-Cumulative Non-Convertible Redeemable Preference Shares

  17 for0 against

Mutual fund votes, meeting of 26 Sep 2025, 18 fund houses

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

• Adoption of Audited Financial Statements of the Company for the year ended March 31, 2025

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

  • Angel One Mutual FundNon disclosure of audited financial statements of subsidiaries on the website of the Company.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundUnqualified financial statements. Non-Compliant with S.136(1) of the Companies Act & Regulation 46(2)(s) of SEBI LODR: Nondisclosure of audited financial statements of subsidiaries on the website of the Company.

  12 for6 against
• Appointment of Ms. Alpana Dangi as a Director (Din:01506529) liable to retire by rotation.

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

  • Angel One Mutual FundGovernance Concern: Proposed appointee is an Nomination and Remuneration Committee member and the Board is non-compliant with requisite number of retiring Directors. Further, remuneration is skewed in favour of one Executive Director on the Board.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Proposed appointee is an NRC member and the Board is non-compliant with requisite number of retiring Directors as required under Section 152 of the Companies Act. Further, remuneration is skewed in favour of one ED on the Board.

  12 for6 against
• Appointment of M/s. Mayank Arora & Co. as the Secretarial Auditor of the Company

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

  • Angel One Mutual FundGovernance concern: Failure to highlight non-compliance by the Company in the Secretarial Audit Report or Annual Secretarial Compliance Report.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Failure to highlight non-compliance by the Company in the Secretarial Audit Report or Annual Secretarial Compliance Report.

  12 for6 against
• Increase in Borrowing Powers under Section 180 (1) (c ) of the Companies Act, 2013 up to 4000crores

  15 for0 against
• Approval for Creation of Charges, mortgages,hypothetication on the immovable and movable assets o the Company under Section 180 (1) (a) of the Companies Act, 2013

  18 for0 against
• Approval of Material Related Party Transacion with Mentor Capital Limited

  ›Against Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual FundThe proposed transactions between the company and Mentor Capital Limited relates to loan taken / to be taken and repaid along with interest and loan given / to be given and received along with interest. The approval is being sought for one year from 2025 AGM until the conclusion 2026 AGM and the amount is capped at Rs. 50.0 bn. We note Mentor Capital Limited is part of the promoter group, holding 9.6% as on 30 June 2025 and along with promoters Sanjay Dangi and Alpana Dangi hold 75%. Considering the company is not in the business of accepting deposits, there is a need for funds to carry on its business functions of investments and credit lending. The rationale for Authum to extend loans to the promoter company, aggregating over 100% of its revenues, is unclear. Moreover, the details of terms for the financial transactions have not been provided. In the absence of clarity, we do not support the resolution.
  • Angel One Mutual FundGovernance and Transparency Concern: Proposed Related Party Transactions include grant of unsecured loans to Promoter Entities, which may constitute significant portion of the Company’ net worth, without any justification; No clarity on whether shareholders’ approval has been sought or not; No specific justification for the significant difference between the proposed limit and the quantum of past year transactions.
  • Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: Proposed RPTs include grant of unsecured loans to Promoter Entities, which may constitute significant portion of the Company’ net worth, without any justification; No clarity on whether shareholders’ approval under Section 185 of the Companies Act has been sought or not; No specific justification for the significant difference between the proposed limit and the quantum of past year transactions.
  • HDFC Mutual FundThe rationale for Authum to extend loans to the promoter company, aggregating over 100% of its revenues, is unclear. Moreover, the details of terms for the financial transactions have not been provided. In the absence of clarity, we do not support the resolution.
  • ICICI Prudential Mutual FundThe proposed transactions between the company and Mentor Capital Limited relates to inter-company loans. The amount is capped at Rs. 50.0 bn. Mentor Capital Limited is part of the promoter group, held in personal capacity. The rationale for Authum to extend loans to the promoter company, aggregating over 100% of its revenues, is unclear. Hence the AMC has voted against the resolution.
  • Kotak Mahindra Mutual FundThe approval is being sought for one year from 2025 AGM until the conclusion 2026 AGM and the amount is capped at Rs. 50.0 bn. We note Mentor Capital Limited is part of the promoter group, holding 9.6% as on 30 June 2025 and along with promoters Sanjay Dangi and Alpana Dangi hold 75%. Considering the company is not in the business of accepting deposits, there is a need for funds to carry on its business functions of investments and credit lending. The rationale for Authum to extend loans to the promoter company, aggregating over 100% of its revenues, is unclear. Moreover, the details of terms for the financial transactions have not been provided. In the absence of clarity, we do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Proposed RPTs include grant of unsecured loans to Promoter Entities, which may constitute significant portion of the Company’ net worth, without any justification.
  • Nippon India Mutual FundGovernance Concern: Proposed RPTs include grant of unsecured loans to Promoter Entities, which may constitute significant portion of the Company’ net worth, without any justification.

  2 for16 against
• Approval of Material Related Party Transaction with Authum Real Estate Private Limited

  ›Against Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual FundAuthum Real Estate Private Limited, is a promoter controlled entity, that was incorporated in January 2024 as a wholly owned subsidiary but in May 2025 was sold to promoter Ms. Alpana Dangi since the specific transaction for which it was originally acquired did not materialize. The company is engaged in the business of builders, contractors and to acquire lands/ plots. The proposed transactions are for loan given / to be given and received along with interest. The approval is being sought for one year from 2025 AGM until the conclusion 2026 AGM and the amount is capped at Rs. 5.0 bn. We raise concern over the lack of rationale for the company to provide financial support to a promoter-controlled entity. In addition, no details with respect to terms for the financial transactions have been provided. In the absence of clarity, we do not support the resolution
  • Angel One Mutual FundGovernance and Transparency Concern: The Company has not provided justification as to why/ how the RPT is in the interest of listed entity; No clarity on whether shareholders’ approval has been sought or not.
  • Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance and Transparency Concern: The Company has not provided justification as to why/ how the RPT is in the interest of listed entity; No clarity on whether shareholders’ approval under Section 185 of the Companies Act has been sought or not.
  • HDFC Mutual FundThe details with respect to terms for the financial transactions have not been provided. In the absence of clarity, we do not support the resolution
  • ICICI Prudential Mutual FundAuthum Real Estate Private Limited, is a promoter-controlled entity, that was incorporated in January 2024 as a wholly owned subsidiary but in May 2025 was sold to promoters. The proposed transactions are for inter-company loans. The amount is capped at Rs. 5.0 bn. There is no clear rationale for the company to provide financial support to a promoter-controlled entity. Hence the AMC has voted against the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundCompliant with law. Governance and Transparency Concern: The Company has not provided justification as to why/ how the RPT is in the interest of listed entity.
  • Nippon India Mutual FundGovernance and Transparency Concern: The Company has not provided justification as to why/ how the RPT is in the interest of listed entity.
  • SBI Mutual FundAuthum Real Estate Private Limited, is a promoter controlled entity, that was incorporated in January 2024 as a wholly owned subsidiary but in May 2025 was sold to promoter Ms. Alpana Dangi since the specific transaction for which it was originally acquired did not materialize. The company is engaged in the business of builders, contractors and to acquire lands/ plots. The proposed transactions are for loan given / to be given and received along with interest. The approval is being sought for one year from 2025 AGM until the conclusion 2026 AGM and the amount is capped at Rs. 5.0 bn. We raise concern over the lack of rationale for the company to provide financial support to a promoter-controlled entity. In addition, no details with respect to terms for the financial transactions have been provided. In the absence of clarity, we do not support the resolution.

  2 for16 against
• Approval of Material Related Party Transaction with India SME Asset Reconstruction Company Limited

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern: Inadequate disclosure regarding basis of arms’ length pricing.
  • Bandhan Mutual Fund, Capitalmind Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: Inadequate disclosure regarding basis of arms’ length pricing.
  • Kotak Mahindra Mutual FundThe proposed transactions would be purely operational/ integral part of the operations of the Company, and would, inter-alia, be in the ordinary course of business, within the purview of Memorandum and Articles of Association, in furtherance of business objectives, on an arm s length basis or otherwise as permissible under applicable law and on the terms and conditions as similarly placed with the un-related parties, to the extent available, and that are generally prevalent in the industry segments that the Company operates. in absence of such disclosure, WE will not be able to analyse the proposed transactions existing RPTs and accordingly, may not be able to make an informed decision. So, we do not favour the resolution.

  10 for8 against
• Ratification of Remuneration paid to Mr. Akash Suri (Din: 09298275) Whole Time Director and CEO

  18 for0 against
• To Approve revision in Managerial Remuneration payable to Mr. Akash Suri (Din: 09298275) Whole Time Director & CEO of the Company

  18 for0 against
• To approve continuation of Directorship of Mr. Santosh Nayar ( Din: 02175871) as per Reg. 17(1) (A) of the SEBI (LODR) Reg. 2015

  18 for0 against
• To approve continuation of Directorship of Mr. Ajai Kumar (Din: 02446976) as per Reg. 17(1) (a) of SEBI (LODR) Reg. 2015

  18 for0 against

Mutual fund votes, meeting of 10 Apr 2025, 2 fund houses

• Appointment of Mr. Ajai Kumar (DIN: 02446976) as an Independent Director of the Company

  2 for0 against
• Appointment of Mr. Santosh Nayar (DIN: 02175871) as an Independent Director of the Company

  2 for0 against
• Re-appointment of Mr. Amit Dangi (DIN: 06527044) as a Whole-Time Director of the Company and payment of remuneration to him

  ›Against ICICI Prudential Mutual Fund

  • ICICI Prudential Mutual FundAmit Dangi is the nephew of Ms. Alpana Dangi, promoter NED and the cousin of Divy Dangi, promoter ED. He is entitled to ESOPs and hence, the AMC has voted against the resolution

  1 for1 against
• Re-appointment of Mr. Akash Suri (DIN: 09298275) as a Whole-Time Director and Chief Executive Officer of the Company and payment of remuneration to him

  2 for0 against

Mutual fund votes, meeting of 30 Sep 2024, 2 fund houses

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

• Adoption of Audited Financial Statements of the Company for the financial year end March 31, 2024

  2 for0 against
• Appointment of Mrs. Alpana Dangi (DIN: 01506529) as a Director liable to retire by rotation

  2 for0 against
• To consider appointment of na.tM/s. Maharaj N R Suresh and Co LLP, Chartered Accountants as the Joint Statutory Auditor nb.tM/s. APAS & Co LLP, Chartered Accountants as the Joint Statutory Auditor

  2 for0 against
• To consider and approve the appointment of Mr. Divy Dangi (DIN: 08323807) as a Whole-Time Director and payment of remuneration to him

  ›Against HDFC Mutual Fund, ICICI Prudential Mutual Fund

  • HDFC Mutual FundShe does not have the requisite experience to be inducted in the board.
  • ICICI Prudential Mutual FundDivy Dangi, 25, is part of the promoter family and he has three years of experience in the NBFC sector. The AMC has voted against the resolution as his remuneration is being proposed at `25.0 million, entirely fixed and he would be eligible for ESOPs.

  0 for2 against
• To approve Related Party Transactions

  ›Against HDFC Mutual Fund, ICICI Prudential Mutual Fund

  • HDFC Mutual FundLack of clarity on the terms of financial transactions
  • ICICI Prudential Mutual FundThe proposed transactions between the company and Mentor Capital Limited related to loan taken / to be taken and repaid along with interest, rent and loan given / to be given and received along with interest. The approval is being sought for FY2025 and the amount is capped at `12.0 billion. The company has not provided any details of terms for the financial transactions. The rationale for extending financial assistance to Mentor Capital Limited has not been articulated. Hence, the AMC has voted against the resolution.

  0 for2 against
• Approval for raising of funds through issuance of equity shares and/or other eligible securities through Qualified Institutions Placement

  2 for0 against