Alicon Castalloy logo

Alicon Castalloy MD, chairman, board of directors and AGM

NSE: ALICONBSE: 531147Auto ComponentsSmall Cap

Formerly Enkei Castalloy
Last close ₹801.55down ₹33.20 (3.98%)BSE ₹801.35

Share price at the NSE close on 23 Oct 2026. Previous close ₹834.75.

52-week range of traded prices to 23 Oct 2026
₹580.00Low, 30 Mar 2026₹1,022.00High, 27 Oct 2025
Market cap
₹1,315 Cr1,407th largest listed
P/E
36.0
P/E without one-offs
31.6
P/B
2.1
Dividend yield
0.62%
ROE
6.0%
ROE without one-offs
6.8%
ROCE
9.8%
Debt to equity
0.52
Volume, NSE
51,09351.0% delivered

Alicon Castalloy board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Managing directorShailendrajit Rai
  • ChairpersonAjay Nanavati
  • Company Secretary and Compliance OfficerSneha Shukla

9 directors4 independent1 executive4 non-executive

  • Shailendrajit Rai · Managing directorExecutive · joined Nov 2014 · reappointed Nov 2022 · 2 listed boards
  • Junichi SuzukiNon-executive · joined Oct 2002 · reappointed Oct 2002 · 2 listed boards
  • Ajay Nanavati · ChairpersonNon-executive · joined Apr 2025 · reappointed Apr 2025 · 1 listed board · 1 committee seat
  • Jitendra H PanjabiNon-executive · joined Mar 2024 · reappointed Jun 2024 · 2 listed boards · 1 as independent · 3 committee seats
  • Alfred Heinrich KnechtIndependent · joined Aug 2024 · reappointed Sep 2024 · 22 months as independent · 1 listed board · 1 as independent
  • Ajay Shriram PatilIndependent · joined Oct 2024 · reappointed Jan 2025 · 20 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 3 as chair
  • Bijal Tushar AjinkyaIndependent · joined Oct 2024 · reappointed Jan 2025 · 20 months as independent · 6 listed boards · 6 as independent · 5 committee seats, 1 as chair
  • Sujatha Rajagopal NarayanIndependent · joined Feb 2025 · reappointed Apr 2025 · 16 months as independent · 1 listed board · 1 as independent
  • Ishaan Shailendrajit RaiNon-executive · joined May 2026 · reappointed Jun 2026 · 1 listed board

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.

2 directors who left
  • Pamela Rai, left 12 May 2026: Others
  • Veena Mankar, left 14 Oct 2024: Tenure Completion

Committees and meetings

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

  • Board

    • 12 May 20268 of 9 present4 independent · 24 days in between
    • 17 Apr 20268 of 9 present4 independent · 28 days in between
    • 19 Mar 20267 of 9 present3 independent · 33 days in between
    • 13 Feb 20267 of 9 present2 independent

  • Audit Committee

    Chair Ajay Shriram Patil

    Jitendra H Panjabi, Bijal Tushar Ajinkya

    • 12 May 20263 of 3 present2 independent · 88 days in between
    • 12 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Bijal Tushar Ajinkya

    Ajay Nanavati, Sujatha Rajagopal Narayan

    • 17 Apr 20263 of 3 present2 independent · 70 days in between
    • 5 Feb 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Ajay Shriram Patil

    Jitendra H Panjabi, Ajay Nanavati

    • 19 Mar 20263 of 3 present1 independent

  • Risk Management Committee

    Chair Alfred Heinrich Knecht

    Jitendra H Panjabi, Ajay Nanavati, Ajay Shriram Patil, Sujatha Rajagopal Narayan

    • 12 May 20265 of 5 present3 independent

  • Corporate Social Responsibility Committee

    Chair Bijal Tushar Ajinkya

    Sujatha Rajagopal Narayan, Ishaan Shailendrajit Rai

    • 8 Jun 20263 of 3 present2 independent · 51 days in between

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 Jun 2026.

  • Kirtane & Pandit LLPPeer-review certificate valid to Mar 2027
3 earlier auditors
  • Kirtane & PanditNamed in the filing for the quarter to Dec 2025
  • Kirtane and PanditNamed in filings from Mar 2025 to Sep 2025
  • Kirtane and Pandit LLPNamed in the filing for the quarter to Jun 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.

Alicon Castalloy 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.Alicon Castalloy dividend history

Annual general meeting, 28 Sep 2026

16,354 shareholders on the register on 21 Sep 2026; present: 7 promoters and 38 others; votes counted by Avinash Joshi / Advocate Avinash Joshi.The company's voting result (opens in a new tab)

  1. a) Audited Standalone Balance Sheet as on March 31, 2026, Statement of Profit & Loss for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; and b) Audited Consolidated Balance Sheet as on March 31, 2026, Statement of Profit & Loss for the year ended on that together with the report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 63.96% · promoters 97.11% · institutions 96.95% · other public 0.39%

  2. To declare final dividend of Rs. 3/- per Equity Share of Rs. 5/- each for the financial year ended on March 31, 2026
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 63.96% · promoters 97.11% · institutions 96.95% · other public 0.39%

  3. To appoint a Director in place of Mr. Jitendra Panjabi (DIN: 01259252), who retires by rotation, but being eligible, offers himself for reappointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 63.96% · promoters 97.11% · institutions 96.95% · other public 0.39%

  4. Appointment of Mr. Anantakrishnan Krishna (DIN: 07003940) as Non-Executive, Independent Director
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 63.96% · promoters 97.11% · institutions 96.95% · other public 0.39%

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 2026, 1 resolution

14,828 shareholders on the register on 15 May 2026; votes counted by Avinash Joshi / Advocate Avinash Joshi.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Ishaan Rai as Non-Executive Non-Independent Director
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.15%

    Turnout: all 64.58% · promoters 100.00% · institutions 97.46% · other public 0.26%

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.

Postal ballot, 27 Mar 2026, 1 resolution

14,832 shareholders on the register on 20 Feb 2026; votes counted by Avinash Joshi / Advocate Avinash Joshi.The company's voting result (opens in a new tab)

  1. Approval of the Alicon Castalloy Ltd. – Employees Stock Option Scheme-2026 (ESOS – 2026) - Special
    Special
    76.65% for23.35% against

    Against: promoters 0.00% · institutions 72.29% · other public 0.27%

    Turnout: all 35.97% · promoters 19.76% · institutions 97.71% · other public 40.21%

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, 19 Sep 2025, 4 resolutions

15,044 shareholders on the register on 12 Sep 2025; present: 4 promoters and 35 others; votes counted by UPENDRA SHUKLA / UPENDRA SHUKLA & ASSOCIATES.The company's voting result (opens in a new tab)

  1. 1 - a) Audited Standalone Balance Sheet as on 31st March, 2025 and Statement of Profit & Loss for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; and b) Audited Consolidated Balance Sheet as on March 31, 2025 and Statement of Profit & Loss for the year ended on that together with the report of Auditors thereon.MoreLess
    Ordinary
    98.87% for1.13% against

    Against: promoters 0.00% · institutions 3.85% · other public 0.01%

    Turnout: all 40.75% · promoters 20.89% · institutions 98.28% · other public 51.80%

  2. To declare a final dividend of Rs. 3/- per Equity Share of Rs. 5/- each for the financial year ended on 31st March, 2025.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 40.75% · promoters 20.89% · institutions 98.28% · other public 51.80%

  3. To appoint a Director in place of Mr. Junichi Suzuki (DIN: 02628162), who retires by rotation, but being eligible, offers himself for reappointment.
    Ordinary
    70.72% for29.28% against

    Against: promoters 0.00% · institutions 99.91% · other public 0.01%

    Turnout: all 40.75% · promoters 20.89% · institutions 98.28% · other public 51.80%

  4. Appointment of M/s. DDB & Co. Company Secretaries as Secretarial Auditors of the Company
    Ordinary
    98.82% for1.18% against

    Against: promoters 0.00% · institutions 4.03% · other public 0.01%

    Turnout: all 40.75% · promoters 20.89% · institutions 98.28% · other public 51.80%

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, 30 Apr 2025, 2 resolutions

15,516 shareholders on the register on 28 Mar 2025; votes counted by UPENDRA C. SHUKLA / PCS UPENDRA C. SHUKLA.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Sujatha Narayan (DIN: 02564571) as Non-Executive Independent Director.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 3.24%

    Turnout: all 22.82% · promoters 19.76% · institutions 98.13% · other public 0.38%

  2. Appointment of Mr. Ajay Nanavati (DIN: 02370729) as Non- Executive, Non-Independent Director.
    Special
    97.74% for2.26% against

    Against: promoters 0.00% · institutions 4.28% · other public 3.24%

    Turnout: all 22.82% · promoters 19.76% · institutions 98.13% · other public 0.38%

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, 4 Jan 2025, 2 resolutions

15,310 shareholders on the register on 29 Nov 2024; votes counted by UPENDRA C. SHUKLA / PCS UPENDRA C. SHUKLA.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Bijal TusharAjinkya (DIN: 01976832) as Non-Executive Independent Director
    Special
    76.27% for23.73% against

    Against: promoters 0.00% · institutions 51.54% · other public 0.12%

    Turnout: all 26.22% · promoters 20.68% · institutions 98.39% · other public 8.79%

  2. Appointment of Mr. Ajay Shriram Patil (DIN: 01217000) as Non- Executive Independent Director
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.12%

    Turnout: all 26.22% · promoters 20.68% · institutions 98.39% · other public 8.79%

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.

Annual general meeting, 27 Sep 2024, 5 resolutions

Present: 13 promoters and 18 others.The company's voting result (opens in a new tab)

  1. 1 - a) Audited Standalone Balance Sheet as on March 31, 2024, Statement of Profit & Loss and Cash Flow Statement for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; andnnb) Audited Consolidated Balance Sheet as on March 31, 2024, Statement of Profit & Loss and Cash Flow Statement for the year ended on that together with the report of Auditors thereon.MoreLess
    Ordinary
    94.42% for5.58% against

    Against: promoters 0.00% · institutions 22.10% · other public 0.00%

    Turnout: all 38.51% · promoters 20.30% · institutions 97.13% · other public 50.55%

  2. To confirm interim dividend and to declare final dividend for the Financial Year 2023-24.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 38.52% · promoters 20.30% · institutions 97.23% · other public 50.55%

  3. To appoint a Director in place of Mrs. Pamela Rai (DIN: 00050999), who retires by rotation, but being eligible, offers herself for reappointment.
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 38.52% · promoters 20.30% · institutions 97.23% · other public 50.55%

  4. Appointment of Mr. Alfred Knecht (DIN: 10617020) as Non-executive, Independent Director.
    Special
    100.00% for0.00% against

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

    Turnout: all 38.52% · promoters 20.30% · institutions 97.23% · other public 50.55%

  5. Payment of remuneration by way of commission to Non-Executive Directors.
    Special
    94.37% for5.63% against

    Against: promoters 0.00% · institutions 22.10% · other public 0.13%

    Turnout: all 38.52% · promoters 20.30% · institutions 97.23% · other public 50.55%

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, 25 Jun 2024, 2 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Mr. Jitendra Panjabi (DIN:- DIN: 01259252) as Non-Executive Non Independent Director
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 71.53% · promoters 87.64% · institutions 99.31% · other public 39.13%

  2. Approval of the Alicon Castalloy Ltd. – Employees Stock Option Scheme -2023 (ESOS – 2023)
    Special
    91.25% for8.75% against

    Against: promoters 0.00% · institutions 67.03% · other public 0.27%

    Turnout: all 71.53% · promoters 87.64% · institutions 99.31% · other public 39.13%

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.

Mutual fund votes, meeting of 28 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • a) Audited Standalone Balance Sheet as on March 31, 2026, Statement of Profit & Loss for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; and b) Audited Consolidated Balance Sheet as on March 31, 2026, Statement of Profit & Loss for the year ended on that together with the report of Auditors thereon.MoreLess
    1 for0 against
  • To declare final dividend of Rs. 3/- per Equity Share of Rs. 5/- each for the financial year ended on March 31, 2026
    1 for0 against
  • To appoint a Director in place of Mr. Jitendra Panjabi (DIN: 01259252), who retires by rotation, but being eligible, offers himself for reappointment.
    1 for0 against
  • Appointment of Mr. Anantakrishnan Krishna (DIN: 07003940) as Non-Executive, Independent Director
    1 for0 against

Mutual fund votes, meeting of 20 Jun 2026, 3 fund houses

  • Appointment of Mr. Ishaan Rai as Non-Executive Non-Independent Director
    3 for0 against
6 earlier meetings

Mutual fund votes, meeting of 27 Mar 2026, 3 fund houses

  • Approval of the Alicon Castalloy Ltd. – Employees Stock Option Scheme-2026 (ESOS – 2026) - Special
    Against Axis Mutual Fund, Bandhan Mutual Fund
    • Axis Mutual FundThe company proposes to grant upto 300,000 options which will result in a dilution of ~1.8% on the expanded capital base. The vesting of options will be subject to continued employment and achievement of individual performance parameters, the metrics of which have not been disclosed. Based on disclosures, the exercise price shall be determined by the Nomination and Remuneration Committee (NRC), which has the power to provide a suitable discount of upto 25% to the market price. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, 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. We expect companies to provide granular clarity on performance criteria along with the associated targets, or a commitment to disclose such targets in the annual report after vesting. Through the same resolution, the company proposes to extend the benefits of ESOS 2026 to the employees of group companies including its subsidiary companies, associate companies (in India or outside India), and holding company. We do not support the extension of ESOP schemes to associate companies, listed holding and listed subsidiary companies. Further, we believe regulations require a separate resolution for the extension of ESOP benefits to employees of subsidiary, associate and holding companies. We do not support the resolution.
    • Bandhan Mutual FundNon-compliant with SEBI SBEB Regulations 6 (3)(C): No separate resolutions for implementation of scheme for Group companies viz. subsidiaries/ associates.
    1 for2 against

Mutual fund votes, meeting of 19 Sep 2025, 5 fund houses

  • 1 - a) Audited Standalone Balance Sheet as on 31st March, 2025 and Statement of Profit & Loss for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; and b) Audited Consolidated Balance Sheet as on March 31, 2025 and Statement of Profit & Loss for the year ended on that together with the report of Auditors thereon.MoreLess
    Against LIC Mutual Fund, Motilal Oswal Mutual Fund
    • LIC Mutual FundConcerns Nondisclosure of audited financial statements of subsidiaries on the website of the Company.
    • Motilal Oswal 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.
    3 for2 against
  • To declare a final dividend of Rs. 3/- per Equity Share of Rs. 5/- each for the financial year ended on 31st March, 2025.
    5 for0 against
  • To appoint a Director in place of Mr. Junichi Suzuki (DIN: 02628162), who retires by rotation, but being eligible, offers himself for reappointment.
    Against Axis Mutual Fund, Bandhan Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, SBI Mutual Fund
    • Axis Mutual Fund, SBI Mutual FundJunichi Suzuki, 77, has been on the board since 2002. He is the founder and Chairperson of the company’s technical collaborator - Enkei Corporation, Japan (Enkei). Enkei is a Japanese wheel manufacturer for passenger cars and motorcycles; it held 13.63% of the company’s equity as on 30 June 2025. We believe the company should have sought shareholder approval by way of a special resolution, since Junichi Suzuki is over 75 years of age. He has attended 40% (two out of five) board meetings held in FY25 and 59% (ten out of 17) board meetings held in the last three years. We expect directors to attend all board meetings during the year and have an attendance threshold of 75% of the board meetings over the last three years. Given his average attendance of less than 75% over three years, we do not support his reappointment.
    • Bandhan Mutual Fund, Motilal Oswal Mutual FundNo concern identified on merits of proposed appointee. Non- Compliant with Regulation 17(1A) of SEBI LODR 2015: Re-appointment sought through ordinary resolution for Director who has already attained 75 years of age. Governance Concern: Low attendance at Board meetings and no justification for leave of absence.
    • LIC Mutual FundConcerns over Re-appointment sought through ordinary resolution for Director who has already attained 75 years of age. Governance Concern: Low attendance at Board meetings and no justification for leave of absence.
    0 for5 against
  • Appointment of M/s. DDB & Co. Company Secretaries as Secretarial Auditors of the Company
    Against LIC Mutual Fund, Motilal Oswal Mutual Fund
    • LIC Mutual FundConcern over Appointment proposed for a term of 3 consecutive year; Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Audit fee of incoming and outgoing Auditors not available, hence shareholders cannot ascertain if there exists material change in the Audit fee proposed or not.
    • Motilal Oswal Mutual FundNo issues on merit of the proposed Secretarial Auditors. Non-Compliant with SEBI LODR, 2015: Appointment proposed for a term of 3 consecutive year; Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice. Transparency Concern: Audit fee of incoming and outgoing Auditors not available, hence shareholders cannot ascertain if there exists material change in the Audit fee proposed or not.
    3 for2 against

Mutual fund votes, meeting of 30 Apr 2025, 4 fund houses

  • Appointment of Ms. Sujatha Narayan (DIN: 02564571) as Non-Executive Independent Director.
    4 for0 against
  • Appointment of Mr. Ajay Nanavati (DIN: 02370729) as Non- Executive, Non-Independent Director.
    Against LIC Mutual Fund
    • LIC Mutual FundConcerns over the Cooling off period of 1 year not served after completion of term as ID.
    3 for1 against

Mutual fund votes, meeting of 4 Jan 2025, 4 fund houses

  • Appointment of Ms. Bijal TusharAjinkya (DIN: 01976832) as Non-Executive Independent Director
    Against Axis Mutual Fund
    • Axis Mutual FundMs. Bijal Tushar Ajinkya, 48, is Partner, Direct Tax, Private Client and Investment Funds practice groups, Khaitan & Co Advocates. She has over twenty-three years of experience. Ms. Bijal Tushar Ajinkya serves on the boards of four listed companies (including Alicon Castalloy Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with Khaitan & Co, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on listed companies are not in keeping with the spirit of the regulation. We do not support the resolution.
    3 for1 against
  • Appointment of Mr. Ajay Shriram Patil (DIN: 01217000) as Non- Executive Independent Director
    4 for0 against

Mutual fund votes, meeting of 27 Sep 2024, 4 fund houses

  • 1 - a) Audited Standalone Balance Sheet as on March 31, 2024, Statement of Profit & Loss and Cash Flow Statement for the year ended on that date together with the reports of the Board of Directors and the Auditors thereon; andnnb) Audited Consolidated Balance Sheet as on March 31, 2024, Statement of Profit & Loss and Cash Flow Statement for the year ended on that together with the report of Auditors thereon.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundUnqualified Financial Statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financials of subsidiary for FY 2023-24 on its website.
    3 for1 against
  • To confirm interim dividend and to declare final dividend for the Financial Year 2023-24.
    4 for0 against
  • To appoint a Director in place of Mrs. Pamela Rai (DIN: 00050999), who retires by rotation, but being eligible, offers herself for reappointment.
    4 for0 against
  • Appointment of Mr. Alfred Knecht (DIN: 10617020) as Non-executive, Independent Director.
    4 for0 against
  • Payment of remuneration by way of commission to Non-Executive Directors.
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Governance concern: No absolute cap on the proposed commission. Board discretion to distribute the commission.
    3 for1 against

Mutual fund votes, meeting of 25 Jun 2024, 3 fund houses

  • Appointment of Mr. Jitendra Panjabi (DIN:- DIN: 01259252) as Non-Executive Non Independent Director
    3 for0 against
  • Approval of the Alicon Castalloy Ltd. – Employees Stock Option Scheme -2023 (ESOS – 2023)
    Against Axis Mutual Fund
    • Axis Mutual FundThe company proposes to grant upto 300,000 options which will result in a dilution of ~1.8% on the expanded capital base. The exercise price per option shall be determined by the Nomination and Remuneration committee (NRC) with a maximum discount of upto 25% to the previous 180-day average market price. The vesting of options will essentially be based on continuation of employment. We do not favour ESOP schemes where options are granted at a significant discount (greater than 20%) to the market price. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at deep discount. Issuance of stock options at a significant discount to market price does not align the interests of shareholders with those of employees unless the options vest based on clear performance-based parameters.
    2 for1 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeDirectorate General of Central Excise (Central Board of Indirect Taxes & Customs)Since 20 Jun 2016
    No new update from the previous status
    At the filing before: Advance Authorisation filed for closure with Department of Goods & Service Tax
  • Tax disputeCentral Excise Commissioner- Pune (Central Board of Indirect Taxes & Customs)Since 1 Apr 2008
    No new update from the previous status
    At the filing before: ITC disallowed pending in appeal with Sales Tax (GST)
  • Tax disputeJoint. Commissioner of Sales Tax, Pune (Department of Goods & Service Tax)Since 1 Apr 2009
    No new update from the previous status
    At the filing before: Case was taken up for hearing but personal hearing notice not recd from department
  • Tax disputeDy.Commissioner of State Tax, Pune (Department of Goods & Service Tax)Since 17 Feb 2022
    No new update from the previous status
    At the filing before: Appeal filed with GST Department for ITC Disallowed
  • Tax disputeJoint. Commissioner of Appeal -Uttarkand (Department of Goods & Service Tax)Since 19 Jan 2021
    Refund yet to be received but order passed
    At the filing before: Appeal filed with GST Department at Uttarkand for refund
  • Tax disputeDy.Commissioner of State Tax, Pune (Department of Goods & Service Tax)Since 1 Feb 2022
    Refund yet to be received but order passed
    At the filing before: Appeal filed with Sales Department ( GST) for refund

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

Open at the quarter's end

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
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.