Allcargo Logistics logo

Allcargo Logistics CEO, MD, chairman, board of directors and AGM

NSE: ALLCARGOBSE: 532749Transport ServicesSmall Cap

Formerly Allcargo Global Logistics
Last close ₹9.25down ₹0.49 (5.03%)BSE ₹9.24

Share price at the NSE close on 23 Oct 2026. Previous close ₹9.74.

52-week range of traded prices to 23 Oct 2026
₹7.11Low, 30 Mar 2026₹36.14High, 10 Nov 2025
Market cap
₹1,385 Cr1,356th largest listed
P/E
Demergerin the last 12 months
P/B
2.4
Dividend yield
Nonein the last 12 months
ROE
Demergernew accounts awaited
ROCE
Demergernew accounts awaited
Debt to equity
0.18
Volume, NSE
67,62,52267.4% delivered

Allcargo Logistics board of directors

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

  • ChairpersonDinesh Kumar Lal
  • Managing director and CEOKetan Nishikant Kulkarni
  • Company Secretary and Compliance OfficerShekhar Singh

7 directors4 independent1 executive2 non-executive

  • Arathi ShettyNon-executive · joined Aug 1993 · 2 listed boards
  • Kaiwan Dossabhoy KalyaniwallaNon-executive · joined Aug 2021 · reappointed Sep 2026 · 3 listed boards
  • Radha AhluwaliaIndependent · joined Feb 2022 · 55 months as independent · 3 listed boards · 3 as independent · 3 committee seats, 1 as chair
  • Sivaraman NarayanaswamiIndependent · joined May 2023 · reappointed May 2026 · 40 months as independent · 3 listed boards · 3 as independent · 6 committee seats, 3 as chair
  • Hetal Madhukant GandhiIndependent · joined Feb 2024 · 31 months as independent · 7 listed boards · 6 as independent · 4 committee seats, 2 as chair
  • Dinesh Kumar Lal · ChairpersonIndependent · joined Jun 2025 · 15 months as independent · 3 listed boards · 3 as independent · 4 committee seats, 1 as chair
  • Ketan Nishikant Kulkarni · Managing director and CEOExecutive · joined Nov 2025 · 1 listed board · 1 committee seat

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.

3 directors who left
  • Shashi Kiran Janardhan Shetty, left 5 Aug 2026: Others
  • Adarsh Sudhakar Hegde, left 1 Nov 2025: Others
  • Nilesh Shivji Vikamsey, left 29 Jun 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 28 Sep 20267 of 7 present4 independent · 3 days in between
    • 24 Sep 20267 of 7 present4 independent · 49 days in between
    • 5 Aug 20267 of 8 present4 independent · 82 days in between
    • 14 May 20266 of 8 present4 independent

  • Audit Committee

    Chair Sivaraman Narayanaswami

    Radha Ahluwalia, Dinesh Kumar Lal

    • 5 Aug 20263 of 3 present3 independent · 82 days in between
    • 14 May 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Hetal Madhukant Gandhi

    Radha Ahluwalia, Dinesh Kumar Lal

    • 28 Sep 20263 of 3 present3 independent · 54 days in between
    • 4 Aug 20262 of 3 present2 independent · 48 days in between
    • 16 Jun 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Radha Ahluwalia

    Dinesh Kumar Lal, Ketan Nishikant Kulkarni

    No meeting listed in the filing.

  • Risk Management Committee

    Chair Dinesh Kumar Lal

    Sivaraman Narayanaswami, Ketan Nishikant Kulkarni

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Arathi Shetty

    Dinesh Kumar Lal, Hetal Madhukant Gandhi

    • 28 Jul 20262 of 3 present1 independent

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.

  • M S K C & Associates LLPPeer-review certificate valid to Sep 2026
3 earlier auditors
  • M S K C & AssociatesNamed in the filing for the quarter to Mar 2026
  • M/s M S K C & AssociatesNamed in the filing for the quarter to Sep 2025
  • S. R. Batliboi & Associates LLPNamed in filings from Mar 2025 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.

Allcargo Logistics 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.Allcargo Logistics dividend history

Annual general meeting, 16 Sep 2026

3,33,506 shareholders on the register on 9 Sep 2026; present: 0 promoters and 93 others; votes counted by Mr. Dhrumil Shah / Dhrumil M Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Board of Directors’ (along with all the annexures) and Auditor’s Report thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Auditor’s Report thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.10%

    Turnout: all 45.07% · promoters 97.84% · institutions 71.32% · other public 0.27%

  2. To appoint a Director in place of Mr. Kaiwan Dossabhoy Kalyaniwalla (DIN: 00060776), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 6.50%

    Turnout: all 45.09% · promoters 97.84% · institutions 71.55% · other public 0.27%

  3. Payment of Commission to Non-Executive Directors
    SpecialPromoters have an interest in it
    98.32% for1.68% against

    Against: promoters 0.00% · institutions 13.53% · other public 7.79%

    Turnout: all 45.09% · promoters 97.84% · institutions 71.55% · other public 0.27%

  4. Continuation of Directorship of Mr. Dinesh Kumar Lal (DIN: 00037142) as Non-Executive Independent Director upon attaining the age of 75 years
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 8.92%

    Turnout: all 45.09% · promoters 97.84% · institutions 71.55% · other public 0.27%

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 May 2026, 1 resolution

3,33,115 shareholders on the register on 24 Apr 2026; votes counted by Dhrumil M. Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. Re appointment of Mr. Sivaraman Narayanaswami (DIN: 00001747) as an Independent Director of the Company
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.18% · other public 1.94%

    Turnout: all 48.11% · promoters 97.84% · institutions 80.26% · other public 1.80%

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, 7 Jan 2026, 2 resolutions

2,30,613 shareholders on the register on 5 Dec 2025; votes counted by Dhrumil M. Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Ketan Nishikant Kulkarni (DIN: 10735941), as Director of the Company
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 1.22% · other public 1.24%

    Turnout: all 74.00% · promoters 99.88% · institutions 89.67% · other public 1.43%

  2. Appointment of Mr. Ketan Nishikant Kulkarni (DIN: 10735941), as Managing Director and Chief Executive Officer of the Company.
    Ordinary
    96.05% for3.95% against

    Against: promoters 0.00% · institutions 27.93% · other public 1.43%

    Turnout: all 74.00% · promoters 99.88% · institutions 89.67% · other public 1.43%

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, 24 Sep 2025, 5 resolutions

2,21,372 shareholders on the register on 17 Sep 2025; present: 4 promoters and 79 others; votes counted by Mr. Dhrumil Shah / Dhrumil M Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a.the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Reports of the Board of Directors (along with all the annexures) and Auditors Report thereon; and b.the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Auditors Report thereonMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.56%

    Turnout: all 72.81% · promoters 99.88% · institutions 82.93% · other public 0.94%

  2. To appoint a Director in place of Mr. Adarsh Hegde (DIN: 00035040), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    98.37% for1.63% against

    Against: promoters 0.00% · institutions 12.60% · other public 0.93%

    Turnout: all 72.84% · promoters 99.88% · institutions 83.17% · other public 0.94%

  3. To consider and approve the appointment of M/s. MSKC & Associates LLP (Firm Registration No. 001595S / S000168) Chartered Accountants as Statutory Auditors of the Company for the first term of five consecutive yearsMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.58%

    Turnout: all 72.84% · promoters 99.88% · institutions 83.17% · other public 0.94%

  4. To consider and approve the appointment of M/s. Parikh & Associates, Practicing Company Secretaries, as the Secretarial Auditor of the Company for a term of five consecutive years
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.17%

    Turnout: all 72.84% · promoters 99.88% · institutions 83.17% · other public 0.94%

  5. To consider and approve the appointment of Mr. Dinesh Kumar Lal (DIN: 00037142) as Non-Executive Independent Director of the Company for the first term of three consecutive years
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 1.39% · other public 0.85%

    Turnout: all 72.84% · promoters 99.88% · institutions 83.17% · other public 0.94%

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 2025, 1 resolution

2,15,643 shareholders on the register on 16 May 2025; votes counted by Mr. Dhrumil Shah / Dhrumil M Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr Shashi Kiran Shetty as Chairman and Managing Director of the Company and payment of remuneration
    OrdinaryPromoters have an interest in it
    96.74% for3.26% against

    Against: promoters 0.00% · institutions 23.02% · other public 8.37%

    Turnout: all 73.78% · promoters 99.74% · institutions 83.09% · other public 1.31%

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.

Meeting called by the tribunal, 18 Feb 2025, 1 resolution

2,11,534 shareholders on the register on 11 Feb 2025; present: 1 promoter and 40 others; votes counted by Dhrumil Shah / Dhrumil M. Shah & Co. LLP.The company's voting result (opens in a new tab)

  1. Approval of the Composite Scheme of Arrangement of between Allcargo Logistics Limited ("Allcargo" or "Transferee Company 2" or "Demerged Company") and Allcargo Supply Chain Private Limited ("Transferor Company 1" or "ASCPL"), a wholly owned subsidiary of the Demerged Company, Gati Express & Supply Chain Private Limited ("Transferor Company 2" or "GESCPL"), Allcargo Gati Limited ("Transferee Company 1" or "Transferor Company 3" or "Gati") and Allcargo ECU Limited ("Resulting Company" or "AEL"), a wholly owned subsidiary of the Demerged Company and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”)MoreLess
    Special
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 0.97% · other public 0.13%

    Turnout: all 73.92% · promoters 99.87% · institutions 81.00% · other public 1.07%

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, 26 Sep 2024, 6 resolutions

Present: 1 promoter and 59 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board ofDirectors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Report of Auditors thereon.MoreLess
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.54% · other public 0.11%

    Turnout: all 75.38% · promoters 100.00% · institutions 82.55% · other public 1.76%

  2. To approve the Final Dividend of Re.1/- (i.e. 50%) per equity share of Rs.2/- each recommended by the Board of Directors of the Company at its meeting held on May 25, 2024, for the Financial Year ended March 31, 2024MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.43% · promoters 100.00% · institutions 82.86% · other public 1.76%

  3. To appoint a Director in place of Mrs. Arathi Shetty (DIN: 00088374), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re-appointment.MoreLess
    OrdinaryPromoters have an interest in it
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.23% · other public 0.63%

    Turnout: all 75.43% · promoters 100.00% · institutions 82.86% · other public 1.76%

  4. Re-appointment of Mr Nilesh Vikamsey (DIN:00031213) as a Non-Executive Independent Director of the Company for a term of 1 year.
    Special
    99.36% for0.65% against

    Against: promoters 0.00% · institutions 4.25% · other public 0.29%

    Turnout: all 75.43% · promoters 100.00% · institutions 82.86% · other public 1.76%

  5. Offer or invite for subscription of Secured/Unsecured Non-Convertible Debentures and/or Bonds on private placement basis.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.28%

    Turnout: all 75.43% · promoters 100.00% · institutions 82.86% · other public 1.76%

  6. Approval for re-classification of Allcargo Multimodal Private Limited from Promoter Group to Public
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.55% · other public 0.28%

    Turnout: all 75.43% · promoters 100.00% · institutions 82.86% · other public 1.76%

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, 24 Mar 2024, 2 resolutions

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

  1. Appointment of Mr Hetal Madhukant Gandhi (DIN: 00106895) as a Non-ExecutivenIndependent Director
    Special
    97.96% for2.04% against

    Against: promoters 0.00% · institutions 14.15% · other public 6.12%

    Turnout: all 81.82% · promoters 100.00% · institutions 84.58% · other public 1.19%

  2. Re-appointment of Mrs Radha Ahluwalia (DIN: 00936412) as a Non-Executive Independent Director
    Special
    96.60% for3.40% against

    Against: promoters 0.00% · institutions 23.66% · other public 6.90%

    Turnout: all 81.82% · promoters 100.00% · institutions 84.58% · other public 1.19%

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 16 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Report of the Board of Directors’ (along with all the annexures) and Auditor’s Report thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2026, together with the Auditor’s Report thereon.MoreLess
    1 for0 against
  • To appoint a Director in place of Mr. Kaiwan Dossabhoy Kalyaniwalla (DIN: 00060776), who retires by rotation and being eligible, offers himself for re-appointment
    1 for0 against
  • Payment of Commission to Non-Executive Directors
    1 for0 against
  • Continuation of Directorship of Mr. Dinesh Kumar Lal (DIN: 00037142) as Non-Executive Independent Director upon attaining the age of 75 years
    1 for0 against

Mutual fund votes, meeting of 27 May 2026, 2 fund houses

  • Re appointment of Mr. Sivaraman Narayanaswami (DIN: 00001747) as an Independent Director of the Company
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundAppointment compliant with Law. No concern on the merits, time commitment and independence of the proposed appointee. Governance Concern: No justification for re-appointment as ID for a period of only one year.
    1 for1 against
6 earlier meetings

Mutual fund votes, meeting of 7 Jan 2026, 7 fund houses

  • Appointment of Mr. Ketan Nishikant Kulkarni (DIN: 10735941), as Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Holds 4 full-time positions.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Holds 4 full-time positions.
    3 for4 against
  • Appointment of Mr. Ketan Nishikant Kulkarni (DIN: 10735941), as Managing Director and Chief Executive Officer of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: No absolute cap on variable pay; Holds 4 full-time positions.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: No absolute cap on variable pay; Holds 4 full-time positions.
    • Jio BlackRock Mutual FundWe estimate Ketan Kulkarni’s remuneration including salary, cash variable pay and retention bonus at Rs. 32.5 mn per annum. His remuneration terms also include uncapped commission and Employee Stock Appreciation Rights (ESARs). While the resolution states that he shall be eligible for 200,000 Employee stock appreciation rights (ESARs), it is unclear if he shall be granted any additional ESARs during the five year tenure. The company must disclose details regarding the quantum of ESARs that may be granted to Ketan Kulkarni during his term of appointment and also cap the commission in absolute terms. In absence of clarity, we are unable to determine the aggregate remuneration that is payable to him during his term. The company must also provide granular performance metrics that determine the variable pay. He is also eligible to be appointed as Managing Director of group companies and subsidiary companies and could draw remuneration from these companies – though the extent of such remuneration remains unclear. Although we support his appointment, we are unable to support the resolution due to concerns over the proposed remuneration structure. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    1 for6 against

Mutual fund votes, meeting of 24 Sep 2025, 6 fund houses

  • To receive, consider and adopt: a.the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Reports of the Board of Directors (along with all the annexures) and Auditors Report thereon; and b.the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025 together with the Auditors Report thereonMoreLess
    6 for0 against
  • To appoint a Director in place of Mr. Adarsh Hegde (DIN: 00035040), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment
    6 for0 against
  • To consider and approve the appointment of M/s. MSKC & Associates LLP (Firm Registration No. 001595S / S000168) Chartered Accountants as Statutory Auditors of the Company for the first term of five consecutive yearsMoreLess
    6 for0 against
  • To consider and approve the appointment of M/s. Parikh & Associates, Practicing Company Secretaries, as the Secretarial Auditor of the Company for a term of five consecutive years
    6 for0 against
  • To consider and approve the appointment of Mr. Dinesh Kumar Lal (DIN: 00037142) as Non-Executive Independent Director of the Company for the first term of three consecutive years
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundWhole Time Director at Competitor Entity.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance & Transparency concern: Whole Time Director at Competitor Entity.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    1 for5 against

Mutual fund votes, meeting of 20 Jun 2025, 6 fund houses

  • Re-appointment of Mr Shashi Kiran Shetty as Chairman and Managing Director of the Company and payment of remuneration
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Combined position of Chairman and Managing Director may lead to concentration of powers in the hands of single person; Excessive remuneration in favour of promoter director; No absolute cap on variable pay.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits of the Director. Governance concern: Combined position of Chairman and Managing Director; Excessive remuneration in favour of promoter director; No absolute cap on variable pay. Transparency concern: No clarity regarding approval as per Reg 17(6)(e) of SEBI LODR, 2015.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    1 for5 against

Mutual fund votes, meeting of 18 Feb 2025, 5 fund houses

  • Approval of the Composite Scheme of Arrangement of between Allcargo Logistics Limited ("Allcargo" or "Transferee Company 2" or "Demerged Company") and Allcargo Supply Chain Private Limited ("Transferor Company 1" or "ASCPL"), a wholly owned subsidiary of the Demerged Company, Gati Express & Supply Chain Private Limited ("Transferor Company 2" or "GESCPL"), Allcargo Gati Limited ("Transferee Company 1" or "Transferor Company 3" or "Gati") and Allcargo ECU Limited ("Resulting Company" or "AEL"), a wholly owned subsidiary of the Demerged Company and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Scheme”)MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Valuation should be reworked considering the QIP issuance done post the Scheme announcement. Significant difference between share price determined as per valuation report and share price for the QIP issue. More clarification is required on the valuation of Allcargo Logistics Limited.
    2 for3 against

Mutual fund votes, meeting of 26 Sep 2024, 11 fund houses

  • To receive, consider and adopt: a. the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board ofDirectors and Auditors thereon; and b. the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Report of Auditors thereon.MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundUnqualified financial statements. Compliant with Indian Accounting Standards. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financials of its subsidiaries for FY 2023-24 on its website.
    7 for4 against
  • To approve the Final Dividend of Re.1/- (i.e. 50%) per equity share of Rs.2/- each recommended by the Board of Directors of the Company at its meeting held on May 25, 2024, for the Financial Year ended March 31, 2024MoreLess
    11 for0 against
  • To appoint a Director in place of Mrs. Arathi Shetty (DIN: 00088374), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers herself for re-appointment.MoreLess
    11 for0 against
  • Re-appointment of Mr Nilesh Vikamsey (DIN:00031213) as a Non-Executive Independent Director of the Company for a term of 1 year.
    Against Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Axis Mutual FundNilesh Vikamsey, 60, is a senior partner at KKC & Associates LLP (formerly Khimji Kunverji & Co. LLP). He has attended all six board meetings held in FY24. While his reappointment meets statutory requirements, we note that Nilesh Vikamsey serves on the boards of six listed companies including Allcargo Logistics Limited. 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 senior partner of KKC & Associates LLP, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies are not in keeping with the spirit of the regulation. The company seeks approval to reappoint him as Independent Director for one year from 30 June 2024: we believe shareholder approval for his reappointment should have been sought on or before the completion of his first term as Independent Director
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundNon-Complaint with law- Delayed Shareholder’s approval. Governance concern: Director has failed in his fiduciary duty towards minority shareholders and safeguard their interest in another Company.
    • Edelweiss Mutual FundDirector has failed in his fiduciary duty towards minority shareholders and safeguard their interest in another Company.
    • Mirae Asset Mutual FundAs per internal guidelines (passive holding)
    • SBI Mutual FundNilesh Vikamsey, 60, is a senior partner at KKC & Associates LLP (formerly Khimji Kunverji & Co. LLP). He has attended all six board meetings held in FY24. While his reappointment meets statutory requirements, we note that Nilesh Vikamsey serves on the boards of six listed companies including Allcargo Logistics Limited. 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 senior partner of KKC & Associates LLP, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies are not in keeping with the spirit of the regulation. The company seeks approval to reappoint him as Independent Director for one year from 30 June 2024: we believe shareholder approval for his reappointment should have been sought on or before the completion of his first term as Independent Director. We do not support the resolution.
    3 for8 against
  • Offer or invite for subscription of Secured/Unsecured Non-Convertible Debentures and/or Bonds on private placement basis.
    11 for0 against
  • Approval for re-classification of Allcargo Multimodal Private Limited from Promoter Group to Public
    Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundCompliant with law. Governance & Transparency: Probable loss on account of brand value.
    • Edelweiss Mutual FundProbable loss on account of brand value.
    6 for5 against

Mutual fund votes, meeting of 24 Mar 2024, 8 fund houses

  • Appointment of Mr Hetal Madhukant Gandhi (DIN: 00106895) as a Non-ExecutivenIndependent Director
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. Governance Concern: Excessive time commitments.
    • Nippon India Mutual FundExcessive time commitments
    • SBI Mutual FundHetal Gandhi, 58, is the Co-Founder and Managing Director of Tano India Advisors Private Limited, the India advisory firm for Tano Capital. Public sources indicate he is also the Managing Partner of Tia Advisors LLP. He has over thirty years of experience in the financial services industry spanning private equity, corporate lending, mergers and acquisitions, and capital markets. He serves on the board of seven listed companies, including Allcargo Logistics Limited. While his appointment meets statutory requirements, we believe that, as Managing Director of Tano India Advisors Private Limited, his responsibilities are equivalent to a whole-time directorship. Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Hetal Gandhi’s high number of directorships on listed companies are not in keeping with the spirit of the regulation. We do not support his appointment as Independent Director.
    3 for5 against
  • Re-appointment of Mrs Radha Ahluwalia (DIN: 00936412) as a Non-Executive Independent Director
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an ID.
    • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
    4 for4 against

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

Tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Sep 2026.

  • Unlisted stake boughtAllcargo Group Services Private LimitedSince 1 Jul 2026

    25.00% bought in the quarter; holding 25.00%, from 0.00%

  • Tax disputeIncome tax departmentSince 27 Nov 2018
    Pending at High Court.
  • Tax disputeCompanySince 21 Apr 2016
    Pending with CIT(Appeals)
  • Tax disputeCompanySince 18 Jan 2019
    Disposed off. Appeal party Allowed. Department filed appeal before Income tax Appellate Tribunal against the relief given by CIT
    At the filing before: Pending with CIT(Appeals)
  • Tax disputeCompanySince 9 Dec 2019
    Disposed off. Appeal party Allowed. Department filed appeal before Income tax Appellate Tribunal against the relief given by CIT
    At the filing before: Pending with CIT(Appeals)
  • Tax disputeCompanySince 14 May 2021
    Disposed off. Appeal party Allowed. Department filed appeal before Income tax Appellate Tribunal against the relief given by CIT
    At the filing before: Pending with CIT(Appeals)
  • Tax disputeCompanySince 17 Aug 2025
    Pending with CIT(Appeals)
  • Tax disputeIncome Tax DepartmentSince 19 Jun 2026
    Pending before Assessing Officer
63 more
  • Tax disputeIncome Tax DepartmentSince 27 Jun 2025
    Pending before High Court
  • Tax disputeIncome Tax DepartmentSince 24 Jun 2025
    Pending before High Court
  • Tax disputeIncome Tax DepartmentSince 10 May 2021
    Pending before CIT(Appeals)
  • Tax disputeIncome Tax DepartmentSince 14 Aug 2026
    Appeal filed before CIT(Appeals)
    At the filing before: Pending before CIT(Appeals)
  • Tax disputeIncome Tax DepartmentSince 13 Oct 2024
    Assessment order received. No additions are proposed to the returned income
    At the filing before: Pending before Assessing Officer
  • Tax disputeIncome Tax DepartmentSince 23 Jun 2025
    Pending before Assessing Officer
  • Tax disputeAssistant Commissioner, Mobile Squad, BijnourSince 1 Sep 2016
    Awaiting for hearing
  • Tax disputeCESTATSince 31 Dec 2015
    Against Order No. OIO No. - HYD-EXCUS-001-COM-056-15-16, dated 31-12-2015. Filled ST-7 before CESTAT-HYD on 07-04-2016. Personal Hearing Pending.
  • Tax disputeCESTATSince 7 Apr 2016
    Against Order No OIO No. - HYD-EXCUS-001-COM-055-15-16, dated 31-12-2015. Filled ST-5 before CESTAT-HYD on 07-04-2016. Personal Hearing Pending. (Appeal No - ST/30205/2016-CU(DB)
  • Tax disputeState Tax Officer Class- II/ AVATO, Department of Trade & TaxesSince 30 Dec 2023
    Appeal Filed on 30-03-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs.39.95/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, State Tax, Sector-I, LuknowSince 30 Dec 2023
    Appeal Filed on 31-03-2024; Appeal concluded
    At the filing before: Non-filer; dispute amount is Rs 1.56/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, State Tax, Division-ISince 15 Dec 2023
    Appeal Filed on 20-03-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs.90.46/- lacs including Tax, Interest & Penalty
  • Tax disputeAdditional Commissioner, LTU, Corporate Division, WBSince 22 Dec 2023
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs.53.19/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, CGST & CE, Range-V Division-IIISince 26 Dec 2023
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs.36.86/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, CGST & Central Excise, Range-V Division-IIISince 26 Dec 2023
    Appeal Filed on 25-03-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs.53.74/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, Central Excise & CGSTSince 7 Dec 2024
    Appeal Filed on 25-03-2025; awaiting for hearing
    At the filing before: Penalty Rs.1.20/- lacs
  • Tax disputeSuperintendent, RANGE-BNWD3, LGSTO 065, Bangaluru: DGSTO-6Since 31 Jul 2024
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs.289.81/- lacs including Tax, Interest & Penalty
  • Tax disputeSales Tax Officer, Class II/AVATO, Department of Trade & TaxesSince 24 Apr 2024
    Appeal Filed on 22-07-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B, Non-filer; dispute amount is Rs 32.01/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, LTU, Corporate Division, WBSince 29 Apr 2024
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs 111.26/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, CGST & CE, Division-III, Mumbai East CommissionerateSince 26 Apr 2024
    Appeal Filed on 27-04-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs.51.27/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise And Taxation Officer-cum-State Tax Officer, Gurugram, HaryanaSince 22 Dec 2025
    Appeal Filed on 21-03-2026; awaiting for hearing
    At the filing before: Penalty Rs.0.45/- lacs
  • Tax disputeThe Superintendent, Range-36, Division East-II, GST Bhawan, Plot No. 36-37, Sector-32, Gurugram, Haryana - 122001Since 30 Dec 2025
    Appeal Filed on 31-03-2026; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs.7.43/- lacs including Tax, Interest & Penalty
  • Tax disputeSupreme Court of IndiaSince 7 Sep 2018
    Pending after stay order
    At the filing before: E_Waybill; dispute amount is Rs.132.14/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, Lucknow Sector-9, Lucknow (B), Lucknow-ISince 30 Aug 2024
    Rectification application rejected; Appeal filing under process
    At the filing before: Non-filer; dispute amount is Rs 7.69/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, Range-II, Jurisdiction - ChaklaSince 21 Aug 2024
    Appeal Filed on 20-11-2024; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B, Non-filer; dispute amount is Rs 87.71/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, Circle-N, Jaipur III, AC / CTO Ward, Jaipur-III, RajasthanSince 29 Aug 2024
    Appeal Filed on 28-04-2025; awaiting for hearing
    At the filing before: Interest Rs.0.45/- lacs
  • Tax disputeAssistant Commissioner, Central Exise & CGST, Division- IV, Ahmedabad North, GujaratSince 10 Jun 2025
    Appeal Filed on 10-09-2025; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs.209.75/- lacs including Tax, Interest & Penalty
  • Tax disputeThe Superintendent, Range-36, Division East-II, GST Bhawan, Plot No. 36-37, Sector-32, Gurugram, Haryana - 122001Since 30 Dec 2025
    Appeal Filed on 31-03-2026; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs.0.09/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise and Taxation Officer, Gurgaon (South) Ward No. 5, HaryanaSince 31 Mar 2026
    Appeal filling under process
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs.222.74/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, CGST & CX. Range Deedarganj, PatnaSince 25 Feb 2025
    Appeal Filed on 26-05-2025; awaiting for hearing
    At the filing before: Short payment and Others; dispute amount is Rs.0.42/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, LTU, Corporate DivisionSince 27 Feb 2025
    Rectification application Filed on 28-04-2025; awaiting for Order
    At the filing before: Short payment and Others; dispute amount is Rs.0.42/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, Circle-N, Jaipur III, AC / CTO Ward, Jaipur-III, RajasthanSince 27 Feb 2025
    Rectification application Filed on 28-04-2025; awaiting for Order
    At the filing before: Interest Rs.0.01/- lacs
  • Tax disputeCommercial Tax Officer,Vanagaram Assessement Circle, Poonamallee, Kancheepuram, Tamil NaduSince 10 Sep 2025
    Rectification application rejected; Appeal filing under process
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs.322.91/- lacs including Tax, Interest & Penalty
  • Tax disputeDy. Commissioner, Circle-N, Jaipur-III, RajasthanSince 8 Dec 2025
    Appeal Filed on 07-03-2026; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B; dispute amount is Rs.30.64/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise And Taxation Officer-cum-State Tax OfficerSince 30 Dec 2025
    Appeal Filed on 07-03-2026; awaiting for hearing
    At the filing before: Rule 42; dispute amount is Rs.30.64/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, State Tax, Sector-09, Lucknow-226001, Uttar PradeshSince 31 Dec 2025
    Rectification application Filed on 28-03-2026; awaiting for Order
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs.91.27/- lacs including Tax, Interest & Penalty
  • Tax disputeThe Superintendent, Range-36, Division East-II, GST Bhawan, Plot No. 36-37, Sector-32, Gurugram, Haryana - 122001Since 30 Dec 2025
    Appeal Filed on 31-03-2026; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs.2.62/- lacs including Tax, Interest & Penalty
  • Tax disputeThe Superintendent, Range-36, Division East-II, GST Bhawan, Plot No. 36-37, Sector-32, Gurugram, Haryana - 122001Since 30 Dec 2025
    Appeal Filed on 31-03-2026; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs.3.08/- lacs including Tax, Interest & Penalty
  • Tax disputeThe Superintendent, Range-36, Division East-II, GST Bhawan, Plot No. 36-37, Sector-32, Gurugram, Haryana - 122001Since 30 Dec 2025
    Appeal Filed on 31-03-2026; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs.1.83/- lacs including Tax, Interest & Penalty
  • Tax disputeSales Tax Officer, Class II/AVATOSince 29 Dec 2023
    Appeal Filed; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs 29.49/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner of State Tax, BudgeSince 31 Mar 2023
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs 33.28/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, State Tax, Mumbai-LTUSince 29 Apr 2022
    Appeal Filed; awaiting for hearing
    At the filing before: Ineligible ITC and others; dispute amount is Rs 33.02/- lacs including Tax, Interest & Penalty
  • Tax disputeAdditional Commissioner, Central Tax, Division-III, NoidaSince 31 Dec 2023
    Appeal Filed; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B and others ; dispute amount is Rs 1.61/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Comissioner, Central TaxSince 31 Mar 2023
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs 214.45/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, CGST & CE, Range-15, Division-IIISince 28 Apr 2024
    Appeal Filed; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B, Ineligible ITC and others; dispute amount is Rs 21.96/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner of State Tax, BudgeSince 24 Nov 2023
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Ineligible ITC and others ; dispute amount is Rs 76.94/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, State Tax, Mumbai-LTUSince 30 Dec 2022
    Appeal order passed by 1st appealate authority; 2nd appeal filling before GSTAT under process
    At the filing before: Excess Claim of ITC in 2A vs 3B ; dispute amount is Rs 74.57/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise and Taxation Officer; Gurgaon (West) Ward 7, HaryanaSince 27 Jun 2025
    Appeal Filed; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs 62.53/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise and Taxation Officer; Gurgaon (West) Ward 7, HaryanaSince 30 Mar 2026
    Appeal Filed; awaiting for hearing
    At the filing before: Ineligible ITC; dispute amount is Rs 29.34/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, DGSTO-6, Bengaluru:KarnatakaSince 31 Jan 2025
    Rectification Filed
    At the filing before: Excess Claim of ITC in 2A vs 3B, and others; dispute amount is Rs 16.93/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, CGST & CE, Maduravoyal Range, Coimbatore-II, Tamil NaduSince 4 Mar 2025
    Appeal Filed; awaiting for hearing
    At the filing before: Rule 42; dispute amount is Rs 1.51/- lacs including Tax, Interest & Penalty
  • Tax disputeAsistant State Tax Officer, argao:South Goa:Goa OrdeSince 28 Dec 2023
    Appeal Filed on 27-03-2024; awaiting for hearing
    At the filing before: GSTR 2A vs 3B ; dispute amount is Rs 8.81/- lacs including Tax, Interest & Penalty
  • Tax disputeSuperintendent, Central Tax & Central Excise, Ernakulam, Range-1Since 21 Feb 2024
    Appeal Filed on 05-04-2024; awaiting for hearing
    At the filing before: GSTR 2A vs 3B ; dispute amount is Rs 8.10/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, Bowbazar ChargeSince 23 Jul 2024
    Appeal Filed on 22-10-2024; PH under process, additional documents submitted
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs 189.93/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, Valluvarkottam, Central-III, Chennai Central,Tamil NaduSince 25 Jul 2024
    Appeal Filed on 23-10-2024; awaiting for hearing
    At the filing before: GSTR 2A vs 3B ; dispute amount is Rs 7.29/- lacs including Tax, Interest & Penalty
  • Tax disputeState Tax Officer, Ghatak 9 (Ahmedabad):Range 3, Division-1Since 25 Aug 2023
    Appeal Filed on 27-11-2023; awaiting for hearing
    At the filing before: Excess Claim of ITC in 2A vs 3B and others; dispute amount is Rs 189.93/- lacs including Tax, Interest & Penalty
  • Tax disputeAdditional Commissioner, Bowbazar ChargeSince 25 Sep 2024
    Appeal Filed on 21-12-2024; awaiting for order
    At the filing before: Mismatch In Reverse Charge Liability 2B Vs 3B ; dispute amount is Rs 18.52/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, DGSTO-5, Bengaluru:KarnatakaSince 18 Dec 2025
    Appeal Filed on 18-03-2026; awaiting for order
    At the filing before: GSTR 2A vs 3B ; dispute amount is Rs 40.23/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, Valluvarkottam:Central-III, Chennai Central,Tamil NaduSince 9 Dec 2025
    Appeal Filed on 09-03-2026; awaiting for order
    At the filing before: Credit Notes and others; dispute amount is Rs 220.73/- lacs including Tax, Interest & Penalty
  • Tax disputeAssistant Commissioner, Valluvarkottam:Central-III, Chennai Central,Tamil NaduSince 30 Dec 2025
    Appeal Filed on 30-03-2026; awaiting for order
    At the filing before: Short Payment of Tax on RCM; dispute amount is Rs 43.59/- lacs including Tax, Interest & Penalty
  • Tax disputeDeputy Commissioner, DGSTO-5, Bengaluru, KarnatakaSince 5 Mar 2026
    Appeal filling under process
    At the filing before: Ineligible ITC; dispute amount is Rs 154.02/- lacs including Tax, Interest & Penalty
  • Tax disputeExcise and Taxation commissioner, State TaxSince 9 Aug 2023
    Appeal Filed on 09-11-2023; awaiting for order
    At the filing before: GSTR 2A vs 3B, Rule 42; dispute amount is Rs 2,476.43/- lacs including Tax, Interest & Penalty
  • Tax disputeCommisioner of Service taxSince 21 Mar 2022
    Application filed for early hearing request
    At the filing before: Commissioner passed the order, Appeal is filed before CESTAT and paid Rs. 42 Lakhs to admit the appeal

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

At most 2 complaints open, quarter to Dec 2025.
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.