Anthem Biosciences CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 22 Jul 2026, 12 fund houses so far (houses' deadline to file 15 Oct 2026)

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

• TO CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS (INCLUDING AUDITED CONSOLIDATED FINANCIAL STATEMENT) OF THE COMPANY FOR THE INANCIAL YEAR ENDED MARCH 31, 2026 AND THE REPORTS OF THE BOARD OF DIRECTORS AND AUDITORS THEREON:MoreLess

  11 for0 against
• TO DECLARE DIVIDEND

  12 for0 against
• TO CONSIDER AND APPROVE THE APPOINTMENT OF MR. K RAVINDRA CHANDRAPPA (DIN: 01580534), WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFERS HIMSELF FOR RE-APPOINTMENT

  12 for0 against
• TO APPROVE THE APPOINTMENT OF M/S. S.R. BATLIBOI & ASSOCIATES LLP, CHARTERED ACCOUNTANTS, (FRN 101049W/E300004) AS THE STATUTORY AUDITORS OF THE COMPANY

  12 for0 against
• TO APPROVE THE CONTINUATION OF MR. RAVIKANT UPPAL (DIN: 00025970) AS NON-EXECUTIVE INDEPENDENT DIRECTOR UPON ATTAINING THE AGE OF 75 YEARS

  ›Against PGIM India Mutual Fund

  • PGIM India Mutual FundProposal is compliant with law. No concern on merit of director. Governance Concern: Director is NRC Chairman and the Company does not have requisite number of retiring directors on the Board as required under Section 152 (6) (a) of the Companies Act, 2013, hence, NRC Chair should be held accountable for Board non-compliance

  11 for1 against
• TO APPROVE THE COMMISSION PAYABLE TO INDEPENDENT DIRECTORS

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: The Company has not placed any absolute cap on the total commission payable or on the maximum commission payable to an individual director, apart from the statutory limit of 1% of net profits. The resolution grants the Board discretion to determine the commission amount, which is generally not considered a good governance practice. Further, the Company has not disclosed the tenure of the proposed approval. In the absence of a specified term, the approval may effectively remain valid indefinitely i.e. perpetual approval proposed.
  • DSP Mutual Fund, Jio BlackRock Mutual FundThe total commission payable to Independent Directors for FY26 aggregated to Rs. 3.7 mn, representing 0.03% of profit before tax. The company seeks approval to pay commission to Independent Directors not exceeding 1.0% of the net profits. This will be in addition to sitting fees. The company has not capped the commission in absolute terms and has not defined the tenure for payment of commission. While the amounts paid in the past are reasonable, we do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments. We do not support the resolution.
  • Edelweiss Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with Law. Governance and Transparency Concern: The Company has not placed any absolute cap on the total commission payable or on the maximum commission payable to an individual director, apart from the statutory limit of 1% of net profits. The resolution grants the Board discretion to determine the commission amount, which is generally not considered a good governance practice. Further, the Company has not disclosed the tenure of the proposed approval. In the absence of a specified term, the approval may effectively remain valid indefinitely i.e. perpetual approval proposed
  • HSBC Mutual FundA vote AGAINST this resolution is warranted as the approval will be valid till perpetuity and shareholders will not get to review the payments in the future.

  5 for7 against
• TO APPROVE THE INCREASE IN PAYMENT OF REMUNERATION TO RELATED PARTIES HOLDING AN OFFICE OR PLACE OF PROFIT

  ›Against DSP Mutual Fund, Jio BlackRock Mutual Fund

  • DSP Mutual Fund, Jio BlackRock Mutual FundIshaan Bhardwaj, 35, is from the promoter family and son of Ajay Bhardwaj – Chairperson and Managing Director. He serves as the Vice president overseeing the purchase, regulatory, biological R&D, manufacturing and operational functions of the company. He also heads procurement for the CRDMO (Contract Research, Development & Manufacturing Organisation) business. He has 12 years of experience in the field of CRDMO operations. Based on public sources, we understand he holds a Bachelor of Engineering from RV College of Engineering and Master of Science from The George Washington University – School of Engineering & Applied Science. The company proposes to revise his remuneration to Rs. 15 mn p.a. for FY27 from Rs 12 mn approved by way of Postal Ballot in September 2026. We raise concerns that other Senior Manager Personnel who have more experience than Ishaan Bhardwaj are paid remuneration in a similar range. We do not support his revision in remuneration. Krithika Ganesh, daughter of Ganesh Sambasivam (Whole-time Director and Chief Scientific Officer) is part of promoter group and serves as Deputy Manager serving as a client interface managing programs for pharmaceutical clients. She also oversees project management to ensure timely execution of client deliverables and shipments. Additionally, she is involved in advanced chemistry initiatives, including green chemistry, micellar chemistry, metal-mediated catalysis, and pincer catalyst programs. Based on public information, we understand she holds a Ph. D in Chemistry from Vellore Institute of Technology. The company proposes to revise the remuneration to Rs. 3.8 mn p.a. for FY27 from Rs 3.1 mn approved by way of Postal Ballot in September 2026. However, we raise concerns on the lack of clarity on her age, date of first appointment in the company and previous work experience. We do not support her revision in remuneration. Keerthana Ravindra, daughter of K Ravindra Chandrappa, is part of promoter group and serves as Deputy manager. She is responsible for financial analysis, sustainability and ESG related programs, as well as the preparation and coordination of corporate disclosures and reporting requirements. She has been involved in the company’s reporting and compliance activities following its listing on the Stock Exchange. She holds Bachelor of Commerce degree and has completed the CISI Level 1 certification. She has also done a course on ESG compliance from Indian Institute of Bangalore. The company proposes to revise the remuneration to Rs. 3.4 mn per annum for FY27. However, we raise concerns on the lack of clarity on her age, date of first appointment in the company and previous work experience. We do not support her revision in remuneration. The company should have sought shareholder approval for the three office of profit positions separately, for shareholders to vote on each independently. We do not support the resolution.

  2 for2 against
• TO APPROVE THE UPSIDE SHARING ARRANGEMENT WITH VIRIDITY TONE LLP

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund

  • Angel One Mutual FundGovernance Concern: Upside profit-sharing arrangements for the benefit of specific individuals, especially with the selected Promoter KMPs/Executives is not a good governance practice. Such arrangements may have potential governance implications owing to conflict of interest situations between short-term gain vs long-term growth.
  • DSP Mutual Fund, Jio BlackRock Mutual FundThe proposed arrangement provides for profit sharing by Viridity Tone LLP (the investor) with three identified promoters, Dr. Ajay Bhardwaj, Dr. Ganesh Sambasivam and K Ravindra Chandrappa. The arrangement stems from a Shareholders' Agreement dated 1 March 2021, subsequently amended by a Waiver-cum-Amendment Agreement dated 30 December 2024. As per the scheme, these promoters are entitled to receive a mutually agreed share of the upside realised by the investor on divestment of its equity shares, where such divestment yields a return in excess of the higher of a 25% IRR or 2x the amount invested. The investor divested a cumulative 43,564,840 equity shares as part of the IPO Offer for Sale (23,251,045 shares in the IPO and a further 20,313,795 shares on 9 March 2026), realising an aggregate net consideration of ~Rs. 13,170.0 mn, on which the identified promoters are now entitled to an upside sharing amount of ~Rs. 1,276.8 million. The arrangement does not involve any payment, cost, or securities issuance by the company, and the identified promoters' cumulative shareholding remains unchanged at 71.63% post-arrangement. This arrangement bypasses standard board governance by delivering executive compensation through a private side-deal. It introduces potential conflicts of interest by tying a substantial personal payout to a specific investor's exit timeline. We believe such schemes incentivize one set of shareholders over others, which may create a conflict of interest among shareholders. We do not support the resolution
  • Edelweiss Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. Governance Concern: Upside profit-sharing arrangements for the benefit of specific individuals, especially with the selected Promoter KMPs/Executives is not a good governance practice. Such arrangements may have potential governance implications owing to conflict of interest situations between short-term gain vs long-term growth
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • Upside/ profit sharing agreements have an inherent conflict of interest, and it is expected that the executive promoters and KMPs act in long term interest of the company.

  5 for7 against

Mutual fund votes, meeting of 12 Sep 2025, 21 fund houses

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

• RATIFICATION OF ANTHEM EMPLOYEE STOCK OPTION PLAN 2024

  ›Against 360 One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, UTI Mutual Fund

  • 360 One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, PGIM India Mutual FundNon-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Excessive benefits can be extended to an individual employee.
  • Axis Mutual FundThe overall dilution of the scheme for 11,409,700 options is ~1.99% on the expanded capital base as on 18 July 2025. The vesting of options is either time based, or performance based (performance metrics have not been disclosed). Based on disclosures, it is unclear if the stock options will be granted at market price or at a discount 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 believe as a good practice companies should grant stock options at market price, or the options should have a performance-based vesting with clearly defined performance metrics. In the absence of clarity on the exercise price, we are unable to support the resolution.
  • HDFC Mutual FundLack of clarity on the pricing of the ESOPS. We do not support the resolution.
  • Kotak Mahindra Mutual FundAs per the resolution, the Exercise Price per Option shall be between the Fair Market Value of the Share and the face value of the Share as on date of Grant of such Option. The range of the possible price of ESOP is too large and hence it is difficult to estimate the impact of the ESOP scheme over time. Hence voting against the resolution.
  • LIC Mutual FundNon-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Excessive benefits can be extended to an individual employee.
  • Mirae Asset Mutual FundESOP pricing at significant discount to market price (high discount implies non-alignment of potential future growth for shareholder and ESOP holders)
  • Nippon India Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Broad Discretion to NRC to determine Exercise Price.
  • UTI Mutual FundIn the absence of clarity on the exercise price, we are unable to support the resolution.

  9 for12 against
• RATIFICATION OF THE EXTENSION OF THE BENEFITS OF ANTHEM EMPLOYEE STOCK OPTION PLAN 2024 TO THE EMPLOYEES OF SUBSIDIARY COMPANY(IES) OF THE COMPANY

  ›Against 360 One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, UTI Mutual Fund

  • 360 One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, PGIM India Mutual FundNon-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Excessive benefits can be extended to an individual employee.
  • Axis Mutual Fund, UTI Mutual FundThrough resolution #2, the company seeks approval to extend the ESOP 2024 scheme to the eligible employees of subsidiary companies. Our view on this resolution is linked to resolution #1. We do not support the resolution.
  • HDFC Mutual FundLack of clarity on the pricing of the ESOPS. We do not support the resolution.
  • Kotak Mahindra Mutual FundWhile we do not have any concern regarding extending the benefits of the ESOP scheme to the employees of Subsidiary companies, the range of the possible price of the ESOP is too large and hence it is difficult to estimate the impact of the ESOP scheme over time. Hence voting against the resolution.
  • LIC Mutual FundNon-Disclosure of Exercise Price / Pricing Formula; Absolute Discretion to NRC to determine Exercise Price. Governance Concern: Excessive benefits can be extended to an individual employee.
  • Mirae Asset Mutual FundESOP pricing at significant discount to market price (high discount implies non-alignment of potential future growth for shareholder and ESOP holders)
  • Nippon India Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Broad Discretion to NRC to determine Exercise Price.

  9 for12 against
• Approval of the remuneration proposed to be paid to the related parties

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund

  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, PGIM India Mutual FundNon-Compliance with Companies Act, 2013: Prior approval of shareholders not obtained. Governance and Transparency Concern: Inadequate disclosure of profile of the proposed appointees; Basis of arriving at remuneration not disclosed, hence, fairness of proposed remuneration cannot be ascertained.
  • Kotak Mahindra Mutual FundThe remuneration proposed to be paid to Mr Ishaan Bhardwaj seems reasonable as per his roles and responsibilities. However there is lack of clarity regarding the role and responsibility of Ms Krithika G, hence voting against the the resolution.
  • LIC Mutual FundPrior approval of shareholders not obtained. Governance and Transparency Concern: Inadequate disclosure of profile of the proposed appointees; Basis of arriving at remuneration not disclosed, hence, fairness of proposed remuneration cannot be ascertained.
  • Mahindra Manulife Mutual FundIshaan Bhardwaj, 35, is promoter and son of Ajay Bhardwaj – Chairperson and Managing Director. He serves as the Vice president overseeing the purchase, regulatory, biological R&D, manufacturing and operational functions. He also heads procurement for the CRDMO business. He has 11 years of experience in the field of CDMO operations. He holds a Bachelor of Engineering from RV College of Engineering and Masters of Science from The George Washington University – School of Engineering & Applied Science, as per public sources. The company proposes to revise his remuneration from Rs 9 mn to Rs. 12 mn per annum for FY26, comprising fixed pay of Rs 9 mn and variable pay of Rs 3 mn per annum. His remuneration is reasonable compared to his roles and responsibilities. Krithika Ganesh, daughter of Ganesh Sambasivam (Whole-time Director and Chief Scientific officer) is part of promoter group and serves as Deputy manager managing programs for pharmaceutical clients. She also oversees project management and is involved in advanced chemistry initiatives, including green chemistry, micellar chemistry, metal-mediated catalysis, and pincer catalyst programs. The company proposes to revise her remuneration from Rs 2.1 mn to Rs. 3.1 mn per annum for FY26. However, we raise concerns on the lack of clarity on her age and educational qualifications, including previous work experience. Given the lack of clarity, we do not support her remuneration. The company should have sought shareholder approval for the two office of profit positions separately, for shareholders to vote on each independently. We do not support the resolution.
  • Mirae Asset Mutual FundLack of adequate disclosures for appointment of related party
  • Nippon India Mutual FundNon-Compliance with Companies Act, 2013: Prior approval of shareholders not obtained.

  9 for9 against

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.