Cholamandalam Investment and Finance Company MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 31 Jul 2025, 34 fund houses

• Adoption of standalone financial statements together with the board’s report and independent auditor’s report thereon for the financial year ended 31 March, 2025

  34 for0 against
• Adoption of consolidated financial statements together with the independent auditor’s report thereon for the financial year ended 31 March, 2025

  34 for0 against
• To confirm the interim dividend paid on equity shares for the year ended 31 March, 2025 and declaration of final dividend of Rs. 0.70/- per share on the outstanding equity shares of the company for the year ended 31 March, 2025.MoreLess

  34 for0 against
• Re-appointment of Mr. M A M Arunachalam, director retiring by rotation

  34 for0 against
• Appointment of M/s. BP & Associates, Practising Company Secretaries as the secretarial auditors of the company for a period of five (5) years commencing from FY 2025-26 to FY 2029-30

  34 for0 against
• Approval for increase in borrowing powers under section 180 of the Companies Act, 2013 up to a sum not exceeding Rs.3,00,000 crores

  34 for0 against

Mutual fund votes, meeting of 28 Apr 2025, 36 fund houses

• Appointment of Mr.Vellayan Subbiah (DIN:01138759) as a Whole-time Director, designated as Executive Chairman

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Proposed to be appointed as an Executive Chairman of the Company. Good governance practice the Company should have separated the position of chairman from the executive position as holding such positions by any person may lead to concentration of powers in the hands of single person.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundAppointment compliant with law. Governance concern: Proposed to be appointed as an Executive Chairman of the Company.
  • LIC Mutual FundIt arises governance concern for appointment of said person as chairman, as may lead to concentration of power.

  30 for6 against

Mutual fund votes, meeting of 7 Sep 2024, 28 fund houses

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

• Appointment of Mr. Ramkumar Ramamoorthy, (DIN: 07936844) as an Independent Director of the Company

  ›Against Groww Mutual Fund, PGIM India Mutual Fund

  • Groww Mutual Fund, PGIM India Mutual FundAppointment compliant with law. No concern on merit of appointee. Governance concern: Appointee holds directorship position in a competitor company.

  25 for2 against
• Appointment of Mr. Ravindra Kumar Kundu (DIN: 07337155) as the Managing Director of the Company

  ›Against Bank of India Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund

  • Bank of India Mutual FundRavindra Kumar Kundu, 56, is Executive Director of the company since January 2020. The company proposes to redesignate him as Managing Director of the company for five years from 7 October 2024. As Executive Director, Ravindra Kumar Kundu was paid a remuneration of Rs 43.0 mn in FY24 – this includes incentive pay to him during the year. He did not get any stock options in FY23 and FY24. His maximum proposed fixed pay estimated at Rs. 61.2 mn excluding incentive pay assumed at Rs. 26.2, which is upto 30% of annual cost to company. Also, he will get stock option as per company’s ESOP policy. The company has not quantified/ disclosed any guidance regarding the ESOPs component of proposed remuneration. We are thus unable to estimate his overall remuneration for FY25. While Ravindra Kumar Kundu is professional with skills that carry a market value, the company must disclose the quantum of ESOP’s will be granted to him for shareholders to make an informed decision on proposed remuneration. We also encourage companies to disclose performance metrics for variable pay. In the absence of clarity on proposed remuneration, we do not support the resolution.
  • Invesco Mutual FundRavindra Kumar Kundu, 56, is Executive Director of the company since January 2020. The company proposes to redesignate him as Managing Director of the company for five years from 7 October 2024. As Executive Director, Ravindra Kumar Kundu was paid a remuneration of Rs. 43.0 mn in FY24 – this includes incentive pay to him during the year. He did not get any stock options in FY23 and FY24. His maximum proposed fixed pay estimated at Rs. 61.2 mn excluding incentive pay assumed at Rs. 26.2, which is upto 30% of annual cost to company. Also, he will get stock option as per company’s ESOP policy. The company has not quantified/ disclosed any guidance regarding the ESOPs component of proposed remuneration. We are thus unable to estimate his overall remuneration for FY25. While Ravindra Kumar Kundu is professional with skills that carry a market value, the company must disclose the quantum of ESOP’s will be granted to him for shareholders to make an informed decision on proposed remuneration. We also encourage companies to disclose performance metrics for variable pay. In the absence of clarity on proposed remuneration, we do not support the resolution This is in line with our ESG framework
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  24 for3 against

Mutual fund votes, meeting of 26 Jul 2024, 29 fund houses

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

• Adoption of Audited Standalone Financial Statements together with the board’s report and auditors’ report thereon for the financial year ended 31st March, 2024

  28 for0 against
• Adoption of Audited Consolidated Financial Statements including the Auditors Report thereon for the financial year ended 31st March, 2024

  28 for0 against
• Confirmation of Interim dividend and declaration of Final dividend for the financial year ended 31st March, 2024

  28 for0 against
• Re-appointment of Mr. Ravindra Kumar Kundu (DIN: 07337155) as a Director retiring by rotation

  28 for0 against
• Appointment of B.K. Khare & Co., Chartered Accountants (firm registration no. 105102W) as joint statutory auditor of the Company.

  ›Against Groww Mutual Fund, Helios Mutual Fund

  • Groww Mutual Fund, Helios Mutual FundNo concern on the merit of proposed Joint Statutory Auditors. Non-Compliant with SEBI LODR Regulation: Proposed remuneration of Joint statutory auditors not disclosed.

  26 for2 against
• Appointment of KKC & Associates LLP (firm registration no. 105146W/W100621) as joint statutory auditor of the Company

  ›Against Groww Mutual Fund, Helios Mutual Fund

  • Groww Mutual Fund, Helios Mutual FundNo concern on the merit of proposed Joint Statutory Auditors. Non-Compliant with SEBI LODR Regulation: Proposed remuneration of Joint statutory auditors not disclosed.

  26 for2 against
• Appointment of Mr. M R Kumar (DIN:03628755) as an Independent Director of the Company

  ›Against Invesco Mutual Fund, Mirae Asset Mutual Fund

  • Invesco Mutual FundM R Kumar, 62, is former Chairperson of Life Insurance Corporation of India (LIC). He joined LIC in 1986 and during his stint at LIC, he has headed the Southern Zone, North Central Zone and Northen Zone and has over 40 years of experience in the fields of insurance, finance and marketing. He is a Science Graduate from the University of Madras. While we support his appointment to the board, we are unable to support the resolution: based on the amendments to SEBI LODR effective 1 January 2022, we believe shareholder approval should have been sought via a special resolution This is in line with our ESG framework
  • Mirae Asset Mutual FundNeed More dislosure

  26 for2 against
• Re-appointment of Ms. Bhama Krishnamurthy (DIN: 02196839) as an Independent Director of the Company

  29 for0 against
• Approval for payment of remuneration to the Non-Executive directors of the Company by way of Commission for a period of five financial years commencing from 1st April, 2024

  28 for0 against

Mutual fund votes, meeting of 7 Sep 2023, 23 fund houses

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

• SPECIAL RESOLUTION for seeking approval of the members of the Company to offer, issue and allot equity shares and/or convertible securities for an aggregate amount not exceeding Rs.4,000 crores (Rupees four thousand crores only), through a single or separate offer documents, in one or more tranches, by way of qualified institutions placement to eligible qualified institutional buyers in accordance with Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.MoreLess

  19 for0 against

Mutual fund votes, meeting of 1 Aug 2023, 23 fund houses

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

• Adoption of standalone financial statements together with the board’s report and independent auditor’s report thereon for the financial year ended 31 March, 2023

  22 for0 against
• Adoption of consolidated financial statements together with the independent auditor’s report thereon for the financial year ended 31 March, 2023

  22 for0 against
• Confirmation of the interim dividend of 65% paid on equity shares and declaration of the final dividend of 35% for the year ended 31 March, 2023.tttt

  22 for0 against
• Re-appointment of Mr. M.A.M. Arunachalam, director (DIN: 00202958) retiring by rotation

  23 for0 against
• Approval for increase in borrowing powers under section 180(1)(c) of the Companies Act, 2013 up to a sum not exceeding Rs.2,00,000 crores

  22 for0 against
• Approval for commission payable to Mr. Vellayan Subbiah, Chairman & Non-Executive Director for financial year ended March 31, 2023

  23 for0 against
• Re-appointment of Mr. N. Ramesh Rajan (DIN 01628318) as an independent director

  22 for0 against
• Re-appointment of Mr. Rohan Verma (DIN: 01797489) as an independent director

  ›Against Bank of India Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • Bank of India Mutual Fund, SBI Mutual Fund, Sundaram Mutual FundRohan Verma, 37, is the Founder and chairperson of In-dreams Private Ltd. He has over 17 years of experience in information technology, strategy, marketing and business operations. He holds a Bachelor of Science degree in Electrical Engineering from Stanford University and an MBA from London Business School. He has attended three out of five meetings (60%) in FY23, and 13 out of 18 (72%) of board meetings held in the last three years. We expect directors to take their responsibilities seriously and attend all board meetings – we have a threshold of 75% over a three-year period.
  • HSBC Mutual FundWe have concerns about the director's attendance at board meetings.
  • Invesco Mutual FundRohan Verma, 37, is the Founder and chairperson of In-dreams Private Ltd. He has over 17 years of experience in information technology, strategy, marketing and business operations. He holds a Bachelor of Science degree in Electrical Engineering from Stanford University and an MBA from London Business School. He has attended three out of five meetings (60%) in FY23, and 13 out of 18 (72%) of board meetings held in the last three years. We expect directors to take their responsibilities seriously and attend all board meetings – we have a threshold of 75% over a three-year period
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  16 for6 against
• Approval for amendment to the Articles of Association of the Company

  ›Against Nippon India Mutual Fund, PGIM India Mutual Fund

  • Nippon India Mutual FundEnabling provision for appointment of nominee directors without shareholders’ approval and on perpetual basis
  • PGIM India Mutual FundCompliant with law. Governance Concern: The Article includes enabling provision for appointment of nominee directors without shareholders approval and on perpetual basis.

  21 for2 against