Alok Industries logo

Alok Industries MD, chairman, board of directors and AGM

NSE: ALOKINDSBSE: 521070Textiles & ApparelsSmall Cap

Formerly Alok Textile Industries
Last close ₹8.09down ₹0.04 (0.49%)BSE ₹8.10

Share price at the NSE close on 23 Oct 2026. Previous close ₹8.13.

52-week range of traded prices to 23 Oct 2026
₹6.92Low, 1 Oct 2026₹18.27High, 23 Oct 2025
Market cap
₹4,017 Cr682nd largest listed
P/E
Lossover the last 12 months
P/B
Net worth zero or below
Dividend yield
Nonein the last 12 months
ROE
Net worth zero or below
ROCE
−3.8%
Debt to equity
Net worth zero or below
Volume, NSE
1,60,60,91827.5% delivered

Alok Industries 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

  • ChairpersonACHUTHAN SIDDHARTH
  • Company Secretary and Compliance OfficerAnshul Kumar Jain

7 directors3 independent4 non-executive

  • ACHUTHAN SIDDHARTH · ChairpersonIndependent · joined Sep 2020 · reappointed Sep 2025 · 69 months as independent · 4 listed boards · 4 as independent · 10 committee seats, 4 as chair
  • MUMTAZ BANDUKWALAIndependent · joined Sep 2020 · reappointed Sep 2025 · 69 months as independent · 1 listed board · 1 as independent · 4 committee seats
  • RAHUL DUTTIndependent · joined Sep 2020 · reappointed Sep 2025 · 69 months as independent · 5 listed boards · 5 as independent · 7 committee seats
  • VENKATARAMAN RAMACHANDRANNominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board · 2 committee seats
  • ANIL KUMAR RAJBANSHINominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board · 1 committee seat, 1 as chair
  • HEMANT DESAINominee, non-executive · joined Sep 2020 · reappointed Dec 2020 · 1 listed board
  • NIRAV RAJESH PAREKHNominee, non-executive · joined Mar 2022 · reappointed Apr 2022 · 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.

Committees and meetings

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

  • Board

    • 28 Apr 20266 of 7 present3 independent · 11 days in between
    • 16 Apr 20266 of 7 present3 independent · 90 days in between
    • 15 Jan 20266 of 7 present3 independent

  • Audit Committee

    Chair ACHUTHAN SIDDHARTH

    RAHUL DUTT, VENKATARAMAN RAMACHANDRAN, MUMTAZ BANDUKWALA

    • 16 Apr 20264 of 4 present3 independent · 90 days in between
    • 15 Jan 20264 of 4 present3 independent

  • Nomination and remuneration committee

    Chair RAHUL DUTT

    ACHUTHAN SIDDHARTH, HEMANT DESAI

    • 28 Apr 20263 of 3 present2 independent
    • 16 Apr 20262 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair ANIL KUMAR RAJBANSHI

    ACHUTHAN SIDDHARTH, MUMTAZ BANDUKWALA, VENKATARAMAN RAMACHANDRAN

    No meeting listed in the filing.

  • Risk Management Committee

    Chair MUMTAZ BANDUKWALA

    ANIL KUMAR RAJBANSHI, VENKATARAMAN RAMACHANDRAN

    • 12 Jun 20263 of 3 present1 independent · 126 days in between
    • 5 Feb 20262 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair MUMTAZ BANDUKWALA

    RAHUL DUTT, VENKATARAMAN RAMACHANDRAN

    • 16 Apr 20263 of 3 present2 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.

  • Chaturvedi & Shah LLPPeer-review certificate valid to Jun 2029
1 earlier auditor
  • S R B C & CO LLPNamed in the filing for the quarter to Mar 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.

Alok Industries 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.Alok Industries share news and announcements

Annual general meeting, 24 Jul 2026

9,64,753 shareholders on the register on 17 Jul 2026; present: 2 promoters and 85 others; votes counted by Virendra G. Bhatt / Virendra G. Bhatt.The company's voting result (opens in a new tab)

  1. To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereonMoreLess
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 4.68% · other public 5.37%

    Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%

  2. To appoint Shri Venkataraman Ramachandran (DIN: 02032853), who retires by rotation, as a Director
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 1.23% · other public 5.65%

    Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%

  3. To consider and approve continuation of Shri Hemant Desai (DIN: 00008531) as a non-executive director, liable to retire by rotation, notwithstanding his attaining the age of seventy-five years
    Special
    98.30% for1.70% against

    Against: promoters 0.00% · institutions 89.07% · other public 6.24%

    Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%

  4. To ratify the remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.52%

    Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · other public 0.26%

  5. To appoint Shri Rajbir Saini as the Manager of the Company and approve the remuneration payable to him
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 5.94%

    Turnout: all 76.51% · promoters 100.00% · institutions 65.91% · 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.

Annual general meeting, 4 Sep 2025, 10 resolutions

10,51,653 shareholders on the register on 28 Aug 2025; present: 2 promoters and 63 others; votes counted by Virendra G. Bhatt / Virendra G. Bhatt.The company's voting result (opens in a new tab)

  1. To consider and adopt: a) Audited standalone financial statement for the Financial Year ended 31st March, 2025 and the reports of the Board of Directors and Auditors thereon. b) Audited consolidated financial statement for the Financial Year ended 31st March, 2025 and the report of Auditors thereon.MoreLess
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 2.84% · other public 7.18%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%

  2. To appoint Shri Nirav Parekh (DIN: 09505075), who retires by rotation as a Director
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 1.33% · other public 12.92%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%

  3. To appoint Shri Anil Kumar Rajbanshi (DIN 03370674), who retires by rotation as a Director
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 1.33% · other public 12.88%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%

  4. To appoint Auditors of the Company and fix their remuneration
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 1.59% · other public 11.99%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%

  5. To re-appoint Shri Achuthan Siddharth (DIN: 00016278), as an Independent Director
    Special
    99.84% for0.16% against

    Against: promoters 0.00% · institutions 4.94% · other public 13.01%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%

  6. To re-appoint Ms. Mumtaz Bandukwala (DIN: 07129301), as an Independent Director
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 1.75% · other public 12.93%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%

  7. To re-appoint Shri Rahul Dutt (DIN: 08872616), as an Independent Director
    Special
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 2.58% · other public 12.92%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.30%

  8. To appoint Secretarial Auditor
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 2.84% · other public 7.12%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%

  9. To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 7.32%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.88% · other public 0.31%

  10. To adopt new Articles of Association of the Company containing regulations in conformity with the Companies Act, 2013
    Special
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 3.35% · other public 7.35%

    Turnout: all 77.35% · promoters 100.00% · institutions 82.81% · other public 0.31%

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.

Annual general meeting, 3 Sep 2024, 3 resolutions

Present: 2 promoters and 47 others.The company's voting result (opens in a new tab)

  1. Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2024 and the report of Auditors thereon.MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 11.61%

    Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.65%

  2. Consider appointment of Mr. Hemant Desai, Director retiring by rotation.
    Ordinary
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 3.98% · other public 15.84%

    Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.64%

  3. Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.14%

    Turnout: all 77.38% · promoters 100.00% · institutions 78.83% · other public 0.64%

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, 23 Dec 2023, 4 resolutions

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

  1. Approval for the alteration of Articles of Association
    Special
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 9.99% · other public 7.00%

    Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.13%

  2. Approval for reclassification of Authorised Share Capital and consequent alteration of Memorandum of Association of the Company
    Ordinary
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 9.99% · other public 7.64%

    Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%

  3. Approval for increase in Authorised Share Capital and consequent alteration of Memorandum of Association of the Company
    Ordinary
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 9.99% · other public 6.80%

    Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%

  4. Approval to issue, offer and allot 9% Non-convertible Redeemable Preference Shares on private placement basis
    Special
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 9.99% · other public 7.29%

    Turnout: all 77.14% · promoters 100.00% · institutions 75.87% · other public 1.12%

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, 22 Sep 2023, 6 resolutions

Present: 1 promoter and 39 others.The company's voting result (opens in a new tab)

  1. Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2023 and the report of Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%

  2. Consider appointment of Mr. V. Ramachandran, Director retiring by rotation.
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 2.06% · other public 0.81%

    Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.43%

  3. Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2024.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.45%

    Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%

  4. Approval for increase in borrowing limits under Section 180(1)(c) of the Companies Act, 2013.
    Special
    97.58% for2.42% against

    Against: promoters 0.00% · institutions 95.16% · other public 0.52%

    Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%

  5. Approval for creation of mortgage or hypothecation and/ or charge under Section 180(1)(a) of the Companies Act, 2013.
    Special
    97.58% for2.42% against

    Against: promoters 0.00% · institutions 95.15% · other public 0.50%

    Turnout: all 77.29% · promoters 100.00% · institutions 77.65% · other public 1.44%

  6. Approve Material Related Party Transactions of the Company.
    OrdinaryPromoters have an interest in it
    98.96% for1.04% against

    Against: promoters 0.00% · institutions 1.07% · other public 0.86%

    Turnout: all 2.29% · promoters 0.00% · institutions 77.65% · 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, 26 Jul 2022, 3 resolutions

Present: 0 promoters and 53 others.The company's voting result (opens in a new tab)

  1. Consider and adopt:na)audited standalone financial statement for the Financial Year ended 31st March 2022 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2022 and the Report of Auditors thereon.MoreLess
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 31.69%

    Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%

  2. Re-appointment of Mr. Anil Kumar Rajbanshi as a Director retiring by rotation
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.00% · other public 31.33%

    Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%

  3. Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2023.
    Ordinary
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.56% · other public 32.30%

    Turnout: all 77.07% · promoters 100.00% · institutions 67.95% · other public 1.00%

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, 6 Apr 2022, 1 resolution

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

  1. Appointment of Mr. Nirav Parekh (DIN: 09505075) as a Nominee Director (Non-Executive) of the Company representing JM Financial Asset Reconstruction Company Limited (acting in its capacity as trustee of JMFARC – March 2018 – Trust).MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.43%

    Turnout: all 76.70% · promoters 100.00% · institutions 63.78% · other public 0.93%

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, 21 Sep 2021, 3 resolutions

Present: 0 promoters and 34 others.The company's voting result (opens in a new tab)

  1. Consider and adopt:na)audited financial statement for the Financial Year ended 31st March 2021 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2021 and the Report of Auditors thereon.nMoreLess
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 26.14%

    Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.92%

  2. Re-appointment of Mr. Hemant Desai as a Director retiring by rotation
    Ordinary
    99.87% for0.13% against

    Against: promoters 0.00% · institutions 3.55% · other public 25.38%

    Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.91%

  3. Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2022.
    Ordinary
    99.92% for0.08% against

    Against: promoters 0.00% · institutions 0.00% · other public 28.13%

    Turnout: all 76.53% · promoters 100.00% · institutions 62.60% · other public 0.92%

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 24 Jul 2026, 2 fund houses so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt (a) the audited standalone financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon; and (b) the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of Auditors thereonMoreLess
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance Concern: The Company has negative net worth and the Company has not adequately discussed its plans to rectify the situation.
    1 for1 against
  • To appoint Shri Venkataraman Ramachandran (DIN: 02032853), who retires by rotation, as a Director
    2 for0 against
  • To consider and approve continuation of Shri Hemant Desai (DIN: 00008531) as a non-executive director, liable to retire by rotation, notwithstanding his attaining the age of seventy-five years
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance concern: Low Attendance at Board Meetings and no justification has been provided by the Company for his leave of absence.
    1 for1 against
  • To ratify the remuneration of Cost Auditors
    2 for0 against
  • To appoint Shri Rajbir Saini as the Manager of the Company and approve the remuneration payable to him
    2 for0 against

Mutual fund votes, meeting of 4 Sep 2025, 14 fund houses

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

  • To consider and adopt: a) Audited standalone financial statement for the Financial Year ended 31st March, 2025 and the reports of the Board of Directors and Auditors thereon. b) Audited consolidated financial statement for the Financial Year ended 31st March, 2025 and the report of Auditors thereon.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundThe Company’s net worth is eroded
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundUnqualified financial statements. The Company’s net worth is eroded
    • Nippon India Mutual FundGovernance Concern: The Company’s net worth is eroded
    7 for7 against
  • To appoint Shri Nirav Parekh (DIN: 09505075), who retires by rotation as a Director
    14 for0 against
  • To appoint Shri Anil Kumar Rajbanshi (DIN 03370674), who retires by rotation as a Director
    14 for0 against
  • To appoint Auditors of the Company and fix their remuneration
    Against Jio BlackRock Mutual Fund
    • Jio BlackRock Mutual FundS R B C & Co LLP’s term expires at the conclusion of the FY25 AGM. Accordingly, the Audit Committee and Board of Directors have approved the appointment of Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed audit fees to be paid to Chaturvedi & Shah LLP for FY26 is Rs. 17.5 mn plus applicable taxes and out of pocket expenses. The remuneration for the remaining term will be mutually agreed upon between the Board of Directors and statutory auditors. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. Therefore, we do not support the resolution.
    1 for1 against
  • To re-appoint Shri Achuthan Siddharth (DIN: 00016278), as an Independent Director
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Chairman of the Board and Audit Committee is same person; Proposed appointment will lead to prolonged association with Group Company.
    • Axis Mutual Fund, Jio BlackRock Mutual FundAchuthan Siddharth, 72, is former Partner, Deloitte Haskins & Sells. He was associated with Deloitte for over four decades. He has experience in the field of audit of domestic and multinational companies in sectors such as Manufacturing, Hospitality, Technology and Non-Banking Financial Services. He has been associated with the company since 14 September 2020. He has attended all eight (100%) board meetings held in FY25. We raise concern that he has been a director on the board of Reliance Industrial Infrastructure Ltd, a promoter group company, since April 2019. We will consider his overall association with Reliance group while computing his tenure. We do not support rotation of Independent Directors within the group if their aggregate tenure with the company or the group will exceed ten years during the tenure, as we believe this is not in line with the spirit of the regulations. We do not support the resolution.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Chairman of the Board and Audit Committee is same person; Proposed appointment will lead to prolonged association with Group Company.
    • HDFC Mutual FundMr. Achuthan Siddharth, 72, is former Partner, Deloitte Haskins & Sells. He was associated with Deloitte for over four decades. He has experience in the field of audit of domestic and multinational companies in sectors such as Manufacturing, Hospitality, Technology and Non-Banking Financial Services. We do not support rotation of Independent Directors within the group if their aggregate tenure with the company or the group will exceed ten years during the tenure, as we believe this is not in line with the spirit of the regulations. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    3 for11 against
  • To re-appoint Ms. Mumtaz Bandukwala (DIN: 07129301), as an Independent Director
    Against Axis Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual Fund, Jio BlackRock Mutual FundMs. Mumtaz Bandukwala, 59, is Partner, Junnarkar & Associates, Advocates, Solicitors and Notary. She has been a practicing solicitor since the last 33 years. She has experience in the Companies Act and securities laws, and has handled mergers, private equity investments, arbitrations, and property matters in India. She has been associated with the company since 14 September 2020. She has attended all eight (100%) board meetings held in FY25. We note that Sandeep H Junnarkar, Principal, Junnarkar & Associates, Advocates was part of Reliance Industrial Infrastructure Limited a listed group company from 27 April 1991 to 28 March 2025. We also note that Junnarkar & Associates had provided services to Reliance Group in past. Given the long association of Junnarkar & Associates with the Reliance Group, and the business relationship between the firm and the Reliance Group, we do not support her reappointment as an Independent Director. The company must appoint her as Non-Executive Non-Independent Director. We do not support the resolution.
    • HDFC Mutual FundMs. Mumtaz Bandukwala, 59, is Partner, Junnarkar & Associates, Advocates, Solicitors and Notary. She has been a practicing solicitor since the last 33 years. Given the long association of Junnarkar & Associates with the Reliance Group, and the business relationship between the firm and the Reliance Group. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    10 for4 against
  • To re-appoint Shri Rahul Dutt (DIN: 08872616), as an Independent Director
    Against Axis Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual Fund, Jio BlackRock Mutual FundRahul Dutt, 49, is Partner at Khaitan & Co in the Mergers & Acquisition and Private Equity Practice Group. Prior to this, he served as Senior Counsel at Reliance Industries Limited till September 2015. He has a Master’s degree in Law from the University of Leicester, UK and Bachelor’s degree in Law from the Government Law College, Mumbai. He has been associated with the company since 14 September 2020. He has attended all eight (100%) board meetings held in FY25. Khaitan & Co has represented and advised Reliance Industries Limited (RIL) on internal restructuring and multiple large acquisitions. RIL engages with Khaitan & Co, among various Indian and international law firms, depending upon subject matter and expertise of the law firm. Given the conflict of interest caused by existing business relationships, we do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    11 for3 against
  • To appoint Secretarial Auditor
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundCredentials of the proposed Secretarial Auditors not disclosed.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNo concern on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Credentials of the proposed Secretarial Auditors not disclosed.
    • Nippon India Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR: Credentials of the proposed Secretarial Auditors not disclosed.
    7 for7 against
  • To ratify the remuneration of Cost Auditors for the financial year ending March 31, 2026
    14 for0 against
  • To adopt new Articles of Association of the Company containing regulations in conformity with the Companies Act, 2013
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundArticles of Association allows the minimum no. of Director on the Board to be less than six directors, Combined position of Chairman & Managing Director, appointment of alternate director
    • Bandhan Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundAoA allows the minimum no. of Director on the Board to be less than six directors, Combined position of Chairman & MD, appointment of alternate diector
    • Edelweiss Mutual Fund, Groww Mutual FundCompliant with law. Transparency concern: Not disclosed the new set of AoA, neither in Notice nor on website
    • Nippon India Mutual FundGovernance Concern
    7 for7 against
1 proposal not matched to one resolution
  • To appoint M/s. Chaturvedi and Shah LLP (ICAI Regn. No.101720W/W100355) appointed as Auditors of the Company for a term of 5 (five) consecutive years from the conclusion of this Annual General Meeting till the conclusion of the sixth Annual General Meeting from this Annual General Meeting, at such remuneration as shall be fixed by the Board of Directors of the Company.MoreLess
    Against Axis Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund
    • Axis Mutual FundS R B C & Co LLP’s term expires at the conclusion of the FY25 AGM. Accordingly, the Audit Committee and Board of Directors have approved the appointment of Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed audit fees to be paid to Chaturvedi & Shah LLP for FY26 is Rs. 17.5 mn plus applicable taxes and out of pocket expenses. The remuneration for the remaining term will be mutually agreed upon between the Board of Directors and statutory auditors. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. Therefore, we do not support the resolution.
    • HDFC Mutual FundThe company proposes to appoint Chaturvedi & Shah LLP as statutory auditors of the company for a period of five years from the conclusion of the FY25 AGM till the conclusion of the FY30 AGM. The proposed statutory auditors have been long-standing auditors of Reliance Industries Limited: Chaturvedi & Shah LLP including its network, are auditors of Reliance Industries Limited or its material subsidiaries for more than 10 years. We raise concern over auditor independence and objectivity because of the continued association of the proposed statutory auditors with Reliance Industries Group. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    9 for3 against
6 earlier meetings

Mutual fund votes, meeting of 3 Sep 2024, 9 fund houses

  • Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2024 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2024 and the report of Auditors thereon.MoreLess
    9 for0 against
  • Consider appointment of Mr. Hemant Desai, Director retiring by rotation.
    9 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2025.
    9 for0 against

Mutual fund votes, meeting of 23 Dec 2023, 6 fund houses

  • Approval for the alteration of Articles of Association
    6 for0 against
  • Approval for reclassification of Authorised Share Capital and consequent alteration of Memorandum of Association of the Company
    6 for0 against
  • Approval for increase in Authorised Share Capital and consequent alteration of Memorandum of Association of the Company
    6 for0 against
  • Approval to issue, offer and allot 9% Non-convertible Redeemable Preference Shares on private placement basis
    6 for0 against

Mutual fund votes, meeting of 22 Sep 2023, 3 fund houses

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

  • Consider and adopt:na) Audited standalone financial statement for the Financial Year ended 31st March, 2023 and the reports of the Board of Directors and Auditors thereon.nb) Audited consolidated financial statement for the Financial Year ended 31st March, 2023 and the report of Auditors thereon.MoreLess
    3 for0 against
  • Consider appointment of Mr. V. Ramachandran, Director retiring by rotation.
    3 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2024.
    3 for0 against
  • Approval for creation of mortgage or hypothecation and/ or charge under Section 180(1)(a) of the Companies Act, 2013.
    3 for0 against
  • Approve Material Related Party Transactions of the Company.
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundNon-Compliant with SEBI LODR Regulations: Omnibus approval sought for more than 1 year. Governance concern: Clubbed Resolution
    2 for1 against
1 proposal not matched to one resolution
  • To borrow any sum(s) of money(ies) from time to time, at its discretion, for the purpose of the business of the Company, which together with the money(ies) already borrowed and remaining outstanding (apart from temporary loans obtained from the Company’s bankers in the ordinary course of business) may exceed at any point of time, the aggregate of its paid-up share capital, free reserves and securities premium by a sum not exceeding Rs.26,000 Crore.MoreLess
    Against HDFC Mutual Fund
    • HDFC Mutual FundGiven these are rolling limits linked to networth, shareholders will not get a chance to periodic review th e borrowing limits
    2 for1 against

Mutual fund votes, meeting of 26 Jul 2022, 5 fund houses

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

  • Consider and adopt:na)audited standalone financial statement for the Financial Year ended 31st March 2022 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2022 and the Report of Auditors thereon.MoreLess
    5 for0 against
  • Re-appointment of Mr. Anil Kumar Rajbanshi as a Director retiring by rotation
    5 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2023.
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundLow audit fees
    3 for1 against
1 proposal not matched to one resolution
  • Ratify remuneration of Rs. 99,000 payable to BJD Nanabhoy & Co., cost auditors for FY23
    1 for0 against

Mutual fund votes, meeting of 6 Apr 2022, 4 fund houses

  • Appointment of Mr. Nirav Parekh (DIN: 09505075) as a Nominee Director (Non-Executive) of the Company representing JM Financial Asset Reconstruction Company Limited (acting in its capacity as trustee of JMFARC – March 2018 – Trust).MoreLess
    4 for0 against

Mutual fund votes, meeting of 21 Sep 2021, 4 fund houses

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

  • Consider and adopt:na)audited financial statement for the Financial Year ended 31st March 2021 and the Reports of the Board of Directors and Auditors thereon.nb)audited consolidated financial statement for the Financial Year ended 31st March, 2021 and the Report of Auditors thereon.nMoreLess
    3 for0 against
  • Re-appointment of Mr. Hemant Desai as a Director retiring by rotation
    4 for0 against
  • Ratification of the remuneration of the Cost Auditors for the Financial Year ending 31st March, 2022.
    3 for0 against
3 proposals not matched to one resolution
  • Adoption of consolidated financial statements for the year ended 31 March 2021
    1 for0 against
  • Adoption of standalone financial statements for the year ended 31 March 2021
    1 for0 against
  • Ratify remuneration of Rs. 99,000 payable to BJD Nanabhoy & Co., cost auditors for FY22
    1 for0 against

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

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
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.