AvenuesAI logo

AvenuesAI CEO, MD, chairman, board of directors and AGM

NSE: CCAVENUEBSE: 539807Financial Technology (Fintech)Small Cap

Formerly Infibeam Avenues
Last close ₹116.30down ₹0.64 (0.55%)BSE ₹116.29

Share price at the NSE close on 23 Oct 2026. Previous close ₹116.94.

Market cap
Price break765th largest listed
P/E
Price break
P/B
Price break
Dividend yield
–
ROE
6.9%
ROCE
5.4%
Volume, NSE
11,08,50545.5% delivered

AvenuesAI 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

  • Chairperson and managing directorVishal Ajitbhai MehtaRelated to the promoter
  • Managing director and CEOVishwas Ambalal Patel
  • Company Secretary and Compliance OfficerShyamal Trivedi

7 directors4 independent2 executive1 non-executive

  • Ajit Champaklal MehtaNon-executive · joined Jun 2010 · 1 listed board · 1 committee seat, 1 as chair
  • Vishal Ajitbhai Mehta · Chairperson and managing directorExecutive · joined Jun 2010 · 2 listed boards · 4 committee seats, 1 as chair
  • Vishwas Ambalal Patel · Managing director and CEOExecutive · joined Feb 2018 · 1 listed board · 1 committee seat, 1 as chair
  • Piyushkumar Mithileshkumar SinhaIndependent · joined Feb 2018 · reappointed Feb 2023 · 100 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 1 as chair
  • Narayanan SadanandanIndependent · joined Jul 2024 · reappointed Jul 2024 · 23 months as independent · 4 listed boards · 4 as independent · 6 committee seats, 2 as chair
  • Girija Krishan VarmaIndependent · joined Mar 2025 · reappointed Mar 2025 · 15 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • Neharika VohraIndependent · joined Dec 2025 · reappointed Dec 2025 · 6 months as independent · 1 listed board · 1 as independent

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.

1 director who left
  • Sheth Vijaylaxmi Tulsidas, left 20 Mar 2025: Tenure Completion

Committees and meetings

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

  • Board

    • 29 May 20264 of 7 present2 independent · 104 days in between
    • 13 Feb 20266 of 7 present3 independent

  • Audit Committee

    Chair Piyushkumar Mithileshkumar Sinha

    Vishal Ajitbhai Mehta, Girija Krishan Varma

    • 28 May 20263 of 3 present2 independent · 103 days in between
    • 13 Feb 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Piyushkumar Mithileshkumar Sinha

    Ajit Champaklal Mehta, Girija Krishan Varma

    • 29 May 20262 of 3 present1 independent · no day in between

  • Stakeholders Relationship Committee

    Chair Ajit Champaklal Mehta

    Piyushkumar Mithileshkumar Sinha, Narayanan Sadanandan

    • 13 Feb 20263 of 3 present2 independent

  • Risk Management Committee

    Chair Vishal Ajitbhai Mehta

    Ajit Champaklal Mehta, Piyushkumar Mithileshkumar Sinha, Sunil Bhagat

    • 13 Feb 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair Vishal Ajitbhai Mehta

    Piyushkumar Mithileshkumar Sinha, Vishwas Ambalal Patel

    • 29 May 20262 of 3 present1 independent · 104 days in between

  • Rights Issue Committee

    Chair Piyushkumar Mithileshkumar Sinha

    Vishal Ajitbhai Mehta, Vishwas Ambalal Patel, Narayanan Sadanandan

    No meeting listed in the filing.

  • Right Issue Committee

    • 13 Mar 20264 of 4 present2 independent · 21 days in between
    • 19 Feb 20264 of 4 present2 independent · 8 days in between
    • 10 Feb 20264 of 4 present2 independent · 28 days in between
    • 12 Jan 20264 of 4 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 Mar 2026.

  • Shah & TapariaPeer-review certificate valid to Sep 2027

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.

AvenuesAI 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.AvenuesAI dividend history

Annual general meeting, 29 Sep 2026

7,35,495 shareholders on the register on 22 Sep 2026; present: 5 promoters and 52 others; votes counted by CS Ashish C Doshi / SPANJ & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the Financial Year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 56.02% · promoters 99.99% · institutions 72.45% · other public 36.51%

  2. To appoint a Director in place of Mr. Vishwas Ambalal Patel (DIN: 00934823) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.47% · other public 0.05%

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

  3. Approval for revision in the remuneration of Mr. Vishal Ajitbhai Mehta (DIN: 03093563), Managing Director of the Company.
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.07%

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

  4. Approval for revision in the remuneration of Mr. Vishwas Ambalal Patel (DIN: 00934823) Managing Director and Chief Executive Officer of the Company.
    Special
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

  5. Approval of related party transaction for payment of remuneration to Mr. Vivek Patel (relative of Director), who is holding an office or place of profit in the Company.
    Ordinary
    90.39% for9.61% against

    Against: promoters 0.00% · institutions 95.02% · other public 0.36%

    Turnout: all 43.88% · promoters 99.99% · institutions 72.67% · other public 18.27%

  6. Alteration/ Variation in the Objects of the Rights Issue mentioned in the Letter of Offer Dated June 19, 2025.
    Special
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

  7. Consolidation in Face Value of Equity Shares of the Company.
    Ordinary
    99.93% for0.07% against

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

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

  8. Alteration to Capital Clause in the Memorandum of Association of the Company.
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 56.03% · promoters 99.99% · institutions 72.67% · other public 36.51%

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, 16 Jan 2026, 4 resolutions

8,17,443 shareholders on the register on 12 Dec 2025; votes counted by Ashish C. Doshi / SPANJ & Associates.The company's voting result (opens in a new tab)

  1. To approve change in Name of the Company and consequent alteration in the Memorandum of Association and Articles of Association of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 51.23% · promoters 89.57% · institutions 61.33% · other public 34.50%

  2. Alteration of the Object Clause of the Memorandum of Association of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 51.22% · promoters 89.57% · institutions 61.33% · other public 34.50%

  3. Elevation in designation of Mr. Vishwas Ambalal Patel (DIN: 00934823) as Managing Director and Chief Executive Officer of the Company.
    Special
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.05% · other public 0.13%

    Turnout: all 51.22% · promoters 89.57% · institutions 61.33% · other public 34.50%

  4. Appointment of Dr. Neharika Vohra (DIN: 06808439) as an Independent Director of the Company
    Special
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.41% · other public 0.03%

    Turnout: all 51.22% · promoters 89.57% · institutions 61.33% · other public 34.50%

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, 29 Sep 2025, 6 resolutions

8,50,538 shareholders on the register on 22 Sep 2025; present: 10 promoters and 86 others; votes counted by Ashish Doshi / SPANJ & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the Financial Year ended March 31, 2025, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.03% · other public 0.01%

    Turnout: all 57.63% · promoters 99.06% · institutions 75.33% · other public 39.06%

  2. To appoint a Director in place of Mr. Ajit Champaklal Mehta (DIN: 01234707) who retires by rotation and being eligible, offers himself for re appointment.
    Ordinary
    99.77% for0.23% against

    Against: promoters 0.00% · institutions 2.25% · other public 0.11%

    Turnout: all 57.63% · promoters 99.06% · institutions 75.35% · other public 39.06%

  3. Appointment of Secretarial Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 57.64% · promoters 99.06% · institutions 75.52% · other public 39.06%

  4. Increase in Authorised Share Capital of the Company and consequent alteration to the Capital Clause of the Memorandum of Association
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.53% · other public 0.03%

    Turnout: all 57.63% · promoters 99.06% · institutions 75.35% · other public 39.06%

  5. Approval for sale and transfer of the Platform Business Undertaking through Slump Sale Under Section 180(1)(a) of the Companies Act, 2013 and Regulation 37A of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess
    SpecialPromoters have an interest in it
    99.93% for0.08% against

    Against: promoters 0.00% · institutions 0.13% · other public 0.05%

    Turnout: all 15.78% · promoters 0.00% · institutions 75.52% · other public 16.78%

  6. Approval of Material Related Party Transaction with Rediff. com India Limited
    OrdinaryPromoters have an interest in it
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.13% · other public 0.05%

    Turnout: all 15.78% · promoters 0.00% · institutions 75.52% · other public 16.78%

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 2025, 1 resolution

8,00,076 shareholders on the register on 28 Feb 2025; votes counted by Ashish C. Doshi / SPANJ & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Girija Krishan Varma (DIN: 10038009), as an Independent Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 60.88% · promoters 98.82% · institutions 67.61% · other public 44.23%

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, 14 Aug 2024, 6 resolutions

Present: 4 promoters and 62 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.16% · promoters 100.00% · institutions 67.30% · other public 45.89%

  2. 2. Declaration of Dividend
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 62.16% · promoters 100.00% · institutions 67.39% · other public 45.89%

  3. 3. Appointment of Mr. Vishwas Patel (DIN: 00934823) as a Director liable to retire by rotation
    Ordinary
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.73% · other public 0.00%

    Turnout: all 62.16% · promoters 100.00% · institutions 67.39% · other public 45.89%

  4. 4. Appointment of Mr. Narayanan Sadanandan (DIN: 07263104), as an Independent Director
    Special
    100.00% for0.00% against

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

    Turnout: all 62.16% · promoters 100.00% · institutions 67.39% · other public 45.89%

  5. 5. Re-Classification of persons belonging to the category of Promoter/Promoter Group to the Public Category
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.02% · other public 0.01%

    Turnout: all 37.22% · promoters 9.08% · institutions 67.39% · other public 45.89%

  6. 6. Approval pursuant to Section 185 of the Companies Act, 2013.
    Special
    93.34% for6.66% against

    Against: promoters 0.00% · institutions 92.46% · other public 0.00%

    Turnout: all 62.16% · promoters 100.00% · institutions 67.39% · other public 45.89%

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, 4 Jun 2024, 1 resolution

Present: 5 promoters and 40 others.The company's voting result (opens in a new tab)

  1. 1. To consider and approve the Composite Scheme of Arrangement amongst Infibeam Avenues Limited (“Infibeam” or “Demerged Company” or “Transferor Company”), Odigma Consultancy Solutions Limited (“ODIGMA” or “Resulting Company”) and Infibeam Projects Management Private Limited (“IPMPL” or “Transferee Company”) and their respective shareholders and creditors under Sections 230 to 232 read with Section 66 of the Companies Act, 2013 and other applicable laws including rules and regulations.MoreLess
    Special
    100.00% for0.00% against

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

    Turnout: all 64.28% · promoters 100.00% · institutions 69.80% · other public 48.76%

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.

Annual general meeting, 26 Sep 2023, 7 resolutions

Present: 5 promoters and 49 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.44% · promoters 100.00% · institutions 56.27% · other public 44.54%

  2. Declaration of Dividend
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 61.47% · promoters 100.00% · institutions 56.74% · other public 44.54%

  3. Appointment of Mr. Ajit Champaklal Mehta (DIN: 01234707) as a Director liable to retire by rotation
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 61.45% · promoters 100.00% · institutions 56.74% · other public 44.50%

  4. Re-Appointment of Statutory Auditors
    Ordinary
    99.99% for0.01% against

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

    Turnout: all 61.45% · promoters 100.00% · institutions 56.74% · other public 44.50%

  5. Continuation of Mr. Ajit Champaklal Mehta (DIN: 01234707) as a Non-Executive Director of the Company beyond the age of 75 Years.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 61.47% · promoters 100.00% · institutions 56.74% · other public 44.54%

  6. Re-Designation of Mr. Vishwas Patel (DIN: 00934823) from Executive Director to Joint Managing Director.
    Special
    100.00% for0.00% against

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

    Turnout: all 61.45% · promoters 100.00% · institutions 56.74% · other public 44.50%

  7. Approval pursuant to Section 185 of the Companies Act, 2013.
    Special
    94.58% for5.42% against

    Against: promoters 0.00% · institutions 91.30% · other public 0.01%

    Turnout: all 61.45% · promoters 100.00% · institutions 56.74% · other public 44.50%

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, 23 Sep 2022, 8 resolutions

Present: 7 promoters and 44 others.The company's voting result (opens in a new tab)

  1. 1. To receive, consider and adopt a) The audited standalone financial statements of the Company for the Financial Year ended March 31, 2022, together with the reports of the Board of Directors and Auditors thereon and; b) The audited consolidated financial statements of the Company for the Financial Year ended March 31, 2022, together with the report of Auditors thereon.MoreLess
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.78% · other public 0.00%

    Turnout: all 51.94% · promoters 100.00% · institutions 52.83% · other public 28.19%

  2. Appointment of Mr. Vishwas Patel (DIN: 00934823) as a Director liable to retire by rotation.
    Ordinary
    99.92% for0.08% against

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

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  3. Increase in the Authorized Share Capital and Consequent Alteration of Memorandum of Association.
    Ordinary
    99.90% for0.10% against

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

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  4. Re-appointment of Mr. Vishal Mehta (DIN: 03093563) as the Managing Director of the Company.
    Special
    98.61% for1.39% against

    Against: promoters 0.00% · institutions 19.12% · other public 0.00%

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  5. Re-appointment of Mr. Vishwas Patel (DIN: 00934823) as an Executive Director of the Company.
    Special
    99.35% for0.65% against

    Against: promoters 0.00% · institutions 8.99% · other public 0.00%

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  6. Re-appointment of Mr. Piyushkumar Sinha (DIN: 00484132) as an Independent Director of the Company
    Special
    99.85% for0.15% against

    Against: promoters 0.00% · institutions 2.05% · other public 0.00%

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  7. Issuance of Fully Convertible Warrants on a Preferential Issue basis.
    Special
    99.40% for0.60% against

    Against: promoters 0.00% · institutions 8.25% · other public 0.00%

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

  8. Approval pursuant to Section 185 of the Companies Act, 2013.
    Special
    93.46% for6.54% against

    Against: promoters 0.00% · institutions 90.04% · other public 0.00%

    Turnout: all 51.96% · promoters 100.00% · institutions 53.14% · other public 28.19%

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

  • To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the Financial Year ended March 31, 2026, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    1 for0 against
  • To appoint a Director in place of Mr. Vishwas Ambalal Patel (DIN: 00934823) who retires by rotation and being eligible, offers himself for re-appointment.
    1 for0 against
  • Approval for revision in the remuneration of Mr. Vishal Ajitbhai Mehta (DIN: 03093563), Managing Director of the Company.
    1 for0 against
  • Approval for revision in the remuneration of Mr. Vishwas Ambalal Patel (DIN: 00934823) Managing Director and Chief Executive Officer of the Company.
    1 for0 against
  • Approval of related party transaction for payment of remuneration to Mr. Vivek Patel (relative of Director), who is holding an office or place of profit in the Company.
    Against Angel One Mutual Fund
    • Angel One Mutual FundGovernance and Transparency concern: Non-disclosure of specific selection process and Basis of arriving at remuneration not disclosed; no clarity on whether proposed remuneration is actually comparable with similar grade employees.
    0 for1 against
  • Alteration/ Variation in the Objects of the Rights Issue mentioned in the Letter of Offer Dated June 19, 2025.
    1 for0 against
  • Consolidation in Face Value of Equity Shares of the Company.
    1 for0 against
  • Alteration to Capital Clause in the Memorandum of Association of the Company.
    1 for0 against

Mutual fund votes, meeting of 16 Jan 2026, 5 fund houses

  • To approve change in Name of the Company and consequent alteration in the Memorandum of Association and Articles of Association of the Company
    5 for0 against
  • Alteration of the Object Clause of the Memorandum of Association of the Company.
    5 for0 against
  • Elevation in designation of Mr. Vishwas Ambalal Patel (DIN: 00934823) as Managing Director and Chief Executive Officer of the Company.
    Against Mirae Asset Mutual Fund
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    4 for1 against
  • Appointment of Dr. Neharika Vohra (DIN: 06808439) as an Independent Director of the Company
    5 for0 against
5 earlier meetings

Mutual fund votes, meeting of 6 Apr 2025, 4 fund houses

  • Appointment of Ms. Girija Krishan Varma (DIN: 10038009), as an Independent Director of the Company
    4 for0 against

Mutual fund votes, meeting of 14 Aug 2024, 5 fund houses

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

  • To receive, consider and adopt Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    5 for0 against
  • 2. Declaration of Dividend
    5 for0 against
  • 3. Appointment of Mr. Vishwas Patel (DIN: 00934823) as a Director liable to retire by rotation
    5 for0 against
  • 4. Appointment of Mr. Narayanan Sadanandan (DIN: 07263104), as an Independent Director
    5 for0 against
  • 5. Re-Classification of persons belonging to the category of Promoter/Promoter Group to the Public Category
    Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundProposed re-classification is Non-Compliant, Promoters seeking re-classification do not fulfil the criteria as per Regulation 31A of the SEBI LODR.
    • HDFC Mutual FundLack of clarity for the reasons a promoters being redesignated as public shareholders.
    1 for4 against
1 proposal not matched to one resolution
  • To grant loans and/ or issue Corporate Guarantee or providing Security, to the Subsidiary Companies i.e. Infibeam Digital Entertainment Private Limited and Instant Global Paytech Private Limited up to a maximum amount of Rs. 100.00 Million and Rs. 1,000 Million respectively, in one or more tranches till the next Annual General Meeting of the Company for their principal business activities, repayable on demand and at a commercial rate of interest and on such other terms and conditions as may be mutually agreed upon.MoreLess
    Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance and Transparency Concern: Inadequate Disclosures.
    • HDFC Mutual FundAs the resolution is open ended there could be a possibility that the support could be extended to other companies directly/indirectly controlled by the promoters
    • ICICI Prudential Mutual FundInfibeam Digital Entertainment Private Ltd (IDEPL) is a wholly owned subsidiary of Infibeam Avenues Limited (Infibeam) and Instant Global Paytech Private Ltd (IGPPL) is a subsidiary in which Infibeam holds 54.8% shareholding. Some of the shareholders of IGPPL are relatives of KMP of the company. While IGPPL has reported some revenue, IDEPL had no operations in FY2024. Therefore, the rationale for extending financial support to these entities is unclear and may not be in the interest of the company’s non-promoter shareholders. Hence, the AMC has voted against this resolution.
    0 for5 against

Mutual fund votes, meeting of 4 Jun 2024, 4 fund houses

  • 1. To consider and approve the Composite Scheme of Arrangement amongst Infibeam Avenues Limited (“Infibeam” or “Demerged Company” or “Transferor Company”), Odigma Consultancy Solutions Limited (“ODIGMA” or “Resulting Company”) and Infibeam Projects Management Private Limited (“IPMPL” or “Transferee Company”) and their respective shareholders and creditors under Sections 230 to 232 read with Section 66 of the Companies Act, 2013 and other applicable laws including rules and regulations.MoreLess
    4 for0 against

Mutual fund votes, meeting of 26 Sep 2023, 5 fund houses

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

  • To receive, consider and adopt Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the reports of the Board of Directors and Auditors thereon.MoreLess
    5 for0 against
  • Declaration of Dividend
    5 for0 against
  • Appointment of Mr. Ajit Champaklal Mehta (DIN: 01234707) as a Director liable to retire by rotation
    5 for0 against
  • Re-Appointment of Statutory Auditors
    5 for0 against
  • Continuation of Mr. Ajit Champaklal Mehta (DIN: 01234707) as a Non-Executive Director of the Company beyond the age of 75 Years.
    5 for0 against
  • Re-Designation of Mr. Vishwas Patel (DIN: 00934823) from Executive Director to Joint Managing Director.
    5 for0 against
  • Approval pursuant to Section 185 of the Companies Act, 2013.
    Against SBI Mutual Fund
    • SBI Mutual FundIDEPL, IGPPL and SHBDPL are subsidiaries of the company in which the company holds 74%, 54.8% and 50.5%, respectively, as on 31 March 2023. The remaining 26% shareholding in IDEPL is held by Sony Music Entertainment India Private Ltd. For IGPPL and SHBDPL, some of the shareholders include executive director’s family members. While IGPPL has reported some revenue, the other two companies have had no operations in FY23. Therefore, the rationale for extending financial support to these entities is unclear and may not be in the interest of the company’s non-promoter shareholders. The board must explain the strategic and economic benefit of extending support to these three entities. This is why we do not support the resolution.
    0 for1 against
1 proposal not matched to one resolution
  • To grant of loans and/or issue of Corporate Guarantee or providing Security in one or more tranches, for an amount upto Rs.100.00 Million to Infibeam Digital Entertainment Private Limited and an amount upto Rs.1,000.00 Million to Instant Global Paytech Private Limited and an amount upto Rs.50.00 Million to So Hum Bharat Digital Payments Private Limited, subsidiaries of the Company till the next Annual General Meeting of the Company.MoreLess
    Against HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • HDFC Mutual FundLack of clarity with regard to rationale for extending financial support to these entities
    • Motilal Oswal Mutual FundCompliant with Law. Governance and Transparency Concern: Inadequate Disclosures.
    • Nippon India Mutual FundInadequate disclosure
    1 for3 against

Mutual fund votes, meeting of 23 Sep 2022, 3 fund houses

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

  • 1. To receive, consider and adopt a) The audited standalone financial statements of the Company for the Financial Year ended March 31, 2022, together with the reports of the Board of Directors and Auditors thereon and; b) The audited consolidated financial statements of the Company for the Financial Year ended March 31, 2022, together with the report of Auditors thereon.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundNon-disclosure of latest financial statements of Subsidiaries on the website
    2 for1 against
  • Appointment of Mr. Vishwas Patel (DIN: 00934823) as a Director liable to retire by rotation.
    3 for0 against
  • Increase in the Authorized Share Capital and Consequent Alteration of Memorandum of Association.
    3 for0 against
  • Re-appointment of Mr. Vishal Mehta (DIN: 03093563) as the Managing Director of the Company.
    3 for0 against
  • Re-appointment of Mr. Vishwas Patel (DIN: 00934823) as an Executive Director of the Company.
    3 for0 against
  • Re-appointment of Mr. Piyushkumar Sinha (DIN: 00484132) as an Independent Director of the Company
    3 for0 against
  • Issuance of Fully Convertible Warrants on a Preferential Issue basis.
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    2 for1 against
2 proposals not matched to one resolution
  • To authorize Board of Directors for grant of loans and/or issue of Corporate Guarantee or providing Security in one or more tranches, for an amount upto Rs. 100.00 Million to Infibeam Digital Entertainment Private Limited and an amount upto Rs. 500.00 Million to Instant Global Paytech Private Limited and an amount upto Rs. 50.00 Million to So Hum Bharat Digital Payments Private Limited, subsidiaries of the Company, till the next Annual General Meeting of the Company for their principal business activitiesMoreLess
    1 for0 against
  • To grant loans and/or issue of Corporate Guarantee or providing Security in one or more tranches, for an amount upto Rs.100.00 Million to Infibeam Digital Entertainment Private Limited and an amount upto Rs. 500.00 Million to Instant Global Paytech Private Limited and an amount upto Rs.50.00 Million to So Hum Bharat Digital Payments Private Limited, subsidiaries of the Company, till the next Annual General Meeting of the Company for their principal business activities.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    1 for1 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 Jun 2026.

  • Unlisted stake boughtNueromind Technologies Private LimitedSince 8 Jun 2026

    9.90% bought in the quarter; holding 100.00%, from 90.10%

  • Tax disputeCommissioner of Income Tax (Appeals)Since 28 Jan 2023
    Ongoing
  • Tax disputeCommissioner of Income Tax (Appeals)Since 20 Apr 2024
    Ongoing
  • Tax disputeOffice of the Joint Commissioner, Common Adjudicating Authority, CGST, Ahmedabad South.Since 5 Feb 2025
    Ongoing
  • Tax disputeCommissioner of Income Tax (Appeals)Since 22 Apr 2026
    Ongoing

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 3 complaints open, quarter to Mar 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
Yes
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.

How money raised was used

Reported for the quarter to Jun 2026. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Rights IssuesJul 2025, checked by CARE Ratings Limited699.99Investment in our wholly owned subsidiary, Infibeam Projects Management Private Limited for partial repayment or prepayment of secured loans availed by it69.8469.84No
Rights IssuesJul 2025, checked by CARE Ratings Limited699.99Further investment in our subsidiary, Nueromind Technologies Private Limited for advanced technology development and AI Software related work294.009.44No
Rights IssuesJul 2025, checked by CARE Ratings Limited699.99Further investment in subsidiary, Rediff.com India Limited for expansion of digital and payment ecosystem87.6676.70No
Rights IssuesJul 2025, checked by CARE Ratings Limited699.99Funding of acquisitions of unidentified businesses for future growth and other business initiatives, and General Corporate Purposes243.89169.34No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.