Bajaj Holdings & Investment CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 20 Mar 2025, 21 fund houses

• Re-Appointment of Pradip Shah (DIN : 00066242) as an Independent Director of the Company for a second term of five consecutive years w.e.f. 23 March 2025

  ›Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, HSBC Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund, Taurus Mutual Fund, Zerodha Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Taurus Mutual FundPradip Panalal Shah, 72 is the founder of lndAsia, a corporate finance, private equity, and investment advisory business. He is also the co-founder of www.Grow-Trees.com, a web-enabled social initiative. He was the founder Managing Director of CRISIL. He has attended all five (100%) board meetings held in FY25 till the date of notice, five out of six (~83%) board meetings held in FY24 and 89% of board meetings over the past three years. He is Independent Director on the board of four listed companies, including Bajaj Holdings and Investment 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. We believe that, as founder and owner at lndAsia, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation. We note that he has been on the board of Bajaj Auto Limited, group company, since April 2019 - he will complete 10 years of association with the promoter group in April 2029, during his tenure. Therefore, we are unable to support his reappointment as Independent Director.
  • Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundRe-appointment compliant with law. No issues on merit of appointee. Governance Concern: Proposed term will lead to prolonged association with the group.
  • HDFC Mutual FundMr. Pradip Panalal Shah, 72 is the founder of lndAsia, a corporate finance, private equity, and investment advisory business. He has been on the board of Bajaj Auto Limited, group company, since April 2019 - he will complete 10 years of association with the promoter group in April 2029, during his tenure. Therefore, we are unable to support his reappointment as Independent Director.
  • HSBC Mutual FundPradip Shah's current appointment will exceed his association with the company (including tenure at Bajaj Auto Limited) for more than ten years thus affecting his independence.
  • Nippon India Mutual FundProfile of the Candidate
  • SBI Mutual FundPradip Panalal Shah, 72 is the founder of lndAsia, a corporate finance, private equity, and investment advisory business. He is also the co-founder of www.Grow-Trees.com, a web-enabled social initiative. He was the founder Managing Director of CRISIL. He has attended all five (100%) board meetings held in FY25 till the date of notice, five out of six (~83%) board meetings held in FY24 and 89% of board meetings over the past three years. He is Independent Director on the board of four listed companies, including Bajaj Holdings and Investment 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. We believe that, as founder and owner at lndAsia, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation. We do not support the resolution.
  • Sundaram Mutual Fund"Pradip Panalal Shah, 72 is the founder of lndAsia, a corporate finance, private equity, and investment advisory business. He is also the co-founder of www.Grow-Trees.com, a web-enabled social initiative. He was the founder Managing Director of CRISIL. He has attended all five (100%) board meetings held in FY25 till the date of notice, five out of six (~83%) board meetings held in FY24 and 89% of board meetings over the past three years.He is Independent Director on the board of four listed companies, including Bajaj Holdings and Investment 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. We believe that, as founder and owner at lndAsia, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation.We note that he has been on the board of Bajaj Auto Limited, group company, since April 2019 - he will complete 10 years of association with the promoter group in April 2029, during his tenure. Therefore, we are unable to support his reappointment as Independent Director."

  8 for13 against

Mutual fund votes, meeting of 24 Jul 2024, 19 fund houses

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

• To consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2024, together with the Directors’ and Auditors’ Reports thereon.MoreLess

  ›Against Motilal Oswal Mutual Fund

  • Motilal Oswal Mutual FundUnqualified financial statements (except certain non-material remarks identified in CARO Report). Non-Compliant with S.136(1) of the Companies Act: Non-disclosure of the audited financial statements of 1 Subsidiary on the website of the Company.

  17 for1 against
• To declare a dividend of Rs. 21 per equity share of face value of Rs. 10 for the financial year ended 31 March 2024.

  18 for0 against
• To appoint a director in place of Madhur Bajaj (DIN: 00014593), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and, being eligible, offers himself for re-appointment.

  18 for0 against
• To appoint a director in place of Manish Santoshkumar Kejriwal (DIN: 00040055), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and, being eligible, offers himself for re-appointment.MoreLess

  18 for0 against
• Appointment of P G Bhagwat LLP, Chartered Accountants as Statutory Auditors from the conclusion of 79th AGM till the conclusion of 82nd AGM and to fix their remuneration

  18 for0 against

Mutual fund votes, meeting of 27 Apr 2024, 20 fund houses

• Appointment of Abhinav Bindra (DIN: 00929250) as an Independent Director of the Company for a term of five consecutive years w.e.f. 1 February 2024.

  20 for0 against
• Appointment of Smita Mankad (DIN: 02009838) as an Independent Director of the Company for a term of five consecutive years w.e.f. 1 April 2024.

  20 for0 against

Mutual fund votes, meeting of 27 Jul 2023, 16 fund houses

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

• To consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended 31 March 2023, together with the Directors’ and Auditors’ Reports thereon.MoreLess

  15 for0 against
• To declare a dividend of Rs. 13 per equity share of face value of Rs. 10, for the financial year ended 31 March 2023

  15 for0 against
• To appoint a director in place of Rajivnayan Rahulkumar Bajaj (DIN: 00018262), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointmentMoreLess

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundWe have concerns about insufficient independence on the board.

  14 for1 against
• To appoint a director in place of Shekhar Bajaj (DIN: 00089358), who retires by rotation in terms of section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment

  ›Against Bandhan Mutual Fund, HSBC Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual FundThe Company is seeking shareholder’s approval for re-appointment of Mr. Shekhar Bajaj as a director who retires by rotation being eligible seeks reappointment. Mr. Shekhar Bajaj attended all the board meetings held during FY 2022-23. No concern identified regarding profile and time commitment of Mr. Shekhar Bajaj.
  • HSBC Mutual FundWe have concerns about insufficient independence on the board.
  • Kotak Mahindra Mutual FundShekhar Bajaj, 75 is currently Executive Director at Bajaj Electricals. He has over four decades of industry expertise. He has been associated with the group companies for over four decades. His business acumen and industry expertise is of immense value to the board. His role is liable to retire by rotation. Though we are in favour of his re-appointment as an Non-Executive Director, the company has passed an ordinary resolution. According to Regulation 17(1A) of SEBI LODR, a company should pass a special resolution for appoint/re-appointment of any director beyond the age 75. Here since it is non-compliant with law, hence voting against .
  • Motilal Oswal Mutual Fund"The Company is seeking shareholder’s approval for re-appointment of Mr. Shekhar Bajaj as a director who retires by rotation being eligible seeks reappointment. Mr. Shekhar Bajaj attended all the board meetings held during FY 2022-23. No concern identified regarding profile and time commitment of Mr. Shekhar Bajaj."
  • Nippon India Mutual FundProposed under Ordinary Resolution

  10 for5 against

Mutual fund votes, meeting of 21 Sep 2022, 14 fund houses

• Appointment of Dr. Vidya Rajiv Yeravdekar (DIN: 02183179) as an Independent Director for a term of five consecutive years w.e.f. 1 August 2022.

  14 for0 against