Cochin Shipyard MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 29 Sep 2026, 13 fund houses so far (houses' deadline to file 15 Oct 2026)

• To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, together with the Reports of the Board of Directors’ and the Auditors’ thereon.MoreLess

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • DSP Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) suspension of construction of two passenger vessels and related uncertainties. (ii) the company has regrouped the Ship Building Financial Assistance (SBFA) under ‘Sale of products’ which was hitherto grouped under other operating revenue. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software.Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Governance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • Jio BlackRock Mutual Fund, Sundaram Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) suspension of construction of two passenger vessels and related uncertainties. (ii) the company has regrouped the Ship Building Financial Assistance (SBFA) under ‘Sale of products’ which was hitherto grouped under other operating revenue. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution.

  6 for7 against
• To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, together with the Report of the Auditors thereon.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) suspension of construction of two passenger vessels and related uncertainties. (ii) classification of Ship Building Financial Assistance. (iii) Lease Accounting by Hooghly Cochin Shipyard Limited (HCSL). (iii) Provision for Interest on Delayed Payment of Lease Rent to Government of India by HCSL. (iv) Construction of Caisson Gate by HCSL. (v) Shipbuilding Financial Assistance Policy (SBFAP) of HCSL. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Governance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.

  6 for7 against
• To confirm the payment of first interim dividend of ₹4.00 (80%) per equity share and second interim dividend of ₹3.50 (70%) per equity share and to declare final dividend of ₹1.50 (30%) per equity share (face value of ₹5) for the financial year 2025-26.MoreLess

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

  • Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. Sufficient funds available for payment of final dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  9 for4 against
• To appoint a Director in place of Dr. Harikrishnan S (DIN: 10221559), who retires by rotation and being eligible, offers himself for re-appointment.

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

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Director.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Director.

  9 for4 against
• To authorise the Board of Directors to fix the remuneration of the auditors appointed by the Comptroller and Auditor General of India (C&AG) for the financial year 2026-27.

  13 for0 against
• Approval of appointment of Shri Mukesh Mangal ITS (DIN: 10460089) as Part-time Official (Nominee) Director.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Director.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundMukesh Mangal, 57, Additional Secretary in the Ministry of Ports, Shipping and Waterways. He belongs to the Indian Telecom Services batch of 1992. The company has not disclosed his proposed remuneration terms. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Director.
  • HSBC Mutual FundWe have concerns about insufficient independence on the Remuneration and Nomination committees.

  5 for8 against
• Approval of appointment of Smt. Anupama T. V. IAS (DIN: 06932600) as Part-time Official (Nominee) Director.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Director. Holding two full-time positions. Such time commitments may hamper the ability to devote sufficient time towards the affairs of the Company.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundMs. Anupama T. V., 39, is Secretary, Transport Department, Government of Kerala and also holds full additional charge of Airports; Metro Rail; and Personnel and Administrative Reforms (Official Language) Departments of the Government of Kerala. She is a 2010 batch Indian Administrative Service (IAS) officer of the Kerala cadre. While her appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Director. Holding two full-time positions. Such time commitments may hamper the ability to devote sufficient time towards the affairs of the Company.

  6 for7 against
• Approval of appointment of Dr. Vani Ahluwalia (DIN: 11754971) as Non-official (Independent) Director.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundDr. Vani Ahluwalia, 54, currently serves as Senior Medical Officer at the ART Plus Centre, NSCB Medical College, Jabalpur, under the Madhya Pradesh State AIDS Society, and has previously served at the Tropical Forest Research Institute and J.K. Hospital, Jabalpur. She also serves as Managing Partner of JK Celebration and Ahluwalia Hospitality LLP. Public sources indicate that she has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed her political affiliation as a part of her profile. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Term of appointment is ambiguous and against spirit of the law.
  • HSBC Mutual FundWe are voting against this new non-independent non-executive director as the level of board independence falls below our expectation. We have concerns about the lack of independence of the Audit Committee Chair. We have concerns about insufficient independence on the Audit, Remuneration and Nomination committees.

  5 for8 against
• To ratify the remuneration of Rs. 2,00,000 per annum plus applicable taxes to the Cost Auditors, M/s. BBS & Associates, for the financial year 2026-27.

  13 for0 against

Mutual fund votes, meeting of 29 Sep 2025, 24 fund houses

• To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2025, together with the Reports of the Board of Directors’ and the Auditors’ thereon.MoreLess

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual FundGovernance concern: Non-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) not factoring further liquidated damages for two 1200 pax. passenger vessels. (ii) the Hydrogen Fuel Cell Electric Vessel project is under demonstration phase and Autonomous Surface Vessel project is under development/ construction phase: the company has charged the balance amount of Rs. 96.6 mn incurred/spent by the company to the statement of profit and loss account. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. The auditor notes that the feature of recording audit trail was not available in certain instances. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundUnqualified financial statements (except certain non-material remarks identified in CARO report). Compliant with Indian Accounting Standard. Governance concern: Non-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.
  • Invesco Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) not factoring further liquidated damages for two 1200 pax. passenger vessels. (ii) the Hydrogen Fuel Cell Electric Vessel project is under demonstration phase and Autonomous Surface Vessel project is under development/ construction phase: the company has charged the balance amount of Rs. 96.6 mn incurred/spent by the company to the statement of profit and loss account. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. The auditor notes that the feature of recording audit trail was not available in certain instances. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundNon-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.

  9 for15 against
• To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, together with the Report of the Auditors’ thereon.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual FundGovernance concern: Non-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) not factoring further liquidated damages for two 1200 pax. passenger vessels. (ii) non recognition of land in subsidiary financials pending verification. (iii) the Hydrogen Fuel Cell Electric Vessel project is under demonstration phase and Autonomous Surface Vessel project is under development/ construction phase: the company has charged the balance amount of Rs. 96.6 mn incurred/spent by the company to the statement of profit and loss account. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. The auditor notes that the feature of recording audit trail was not available in certain instances. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundUnqualified financial statements (except certain non-material remarks identified in CARO report). Compliant with Indian Accounting Standard. Governance concern: Non-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.
  • Invesco Mutual FundWe have relied on the auditors’ report, which has raised emphasis of matters regarding: (i) not factoring further liquidated damages for two 1200 pax. passenger vessels. (ii) non recognition of land in subsidiary financials pending verification. (iii) the Hydrogen Fuel Cell Electric Vessel project is under demonstration phase and Autonomous Surface Vessel project is under development/ construction phase: the company has charged the balance amount of Rs. 96.6 mn incurred/spent by the company to the statement of profit and loss account. The auditor’s opinion is not modified in respect of these matters. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. The auditor notes that the feature of recording audit trail was not available in certain instances. Due to the absence of the requisite number of Independent Directors, the Audit Committee and the board was non-compliant when the financial statements were approved by the board. While the auditor’s view on the financial statements is not modified, we believe that financial statements approved under such circumstances should not be supported until the governance framework is regularized and statutory compliance is ensured. Therefore, we do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundNon-Compliant Audit Committee (No Audit Committee) at time of approval of financials. Accounts not vetted by duly compliant audit committee.

  9 for15 against
• To confirm the payment of first interim dividend of Rs. 4.00 (80%) per equity share and second interim dividend of Rs. 3.50 (70%) per equity share and to declare final dividend of Rs. 2.25 (45%) per equity share (face value of Rs. 5) for the financial year 2024-25.MoreLess

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

  • Angel One Mutual Fund, LIC Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundSufficient funds available for payment of dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  16 for8 against
• To appoint a Director in place of Shri Jose V J (DIN: 08444440), who retires by rotation and being eligible, offers himself for re-appointment.

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

  • Angel One Mutual Fund, LIC Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.

  16 for8 against
• To authorize the Board of Directors to fix the remuneration of the auditors appointed by the Comptroller and Auditor General of India (C&AG) for the financial year 2025-26.

  24 for0 against
• Approval of appointment of Shri Rajesh Gopalakrishnan (DIN: 09576336) as Director (Technical).

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

  • Angel One Mutual Fund, LIC Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.

  16 for8 against
• Approval of appointment of Dr. Harikrishnan S (DIN: 10221559) as Director (Operations).

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

  • Angel One Mutual Fund, LIC Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.

  16 for8 against
• Approval of appointment of Shri Venkatesapathy S IAS (DIN: 07407879) as Part-time Official (Nominee) Director.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundVenkatesapathy S, 43, is the Joint Secretary in the Ministry of Ports, Shipping and Waterways (MoPSW), Government of India. Prior to this, he served on central deputation as Director (Shipping) in the Ministry of Ports, Shipping & Waterways. He is a 2009 batch Indian Administrative Service (IAS) officer of the Kerala cadre. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Invesco Mutual FundVenkatesapathy S, 43, is the Joint Secretary in the Ministry of Ports, Shipping and Waterways (MoPSW), Government of India. Prior to this, he served on central deputation as Director (Shipping) in the Ministry of Ports, Shipping & Waterways. He is a 2009 batch Indian Administrative Service (IAS) officer of the Kerala cadre. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  10 for14 against
• Approval of appointment of Shri P B Nooh IAS (DIN: 09701541) as Part-time Official (Nominee) Director.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundP. B. Nooh, 46, is currently serving as the Special Secretary, Transport Department, Government of Kerala and Chairperson and Managing Director of Kerala Transport Development Finance Corpn Ltd. He is a 2012 batch Indian Administrative Service (IAS) officer of the Kerala cadre. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders’ approval.
  • Invesco Mutual FundP. B. Nooh, 46, is currently serving as the Special Secretary, Transport Department, Government of Kerala and Chairperson and Managing Director of Kerala Transport Development Finance Corpn Ltd. He is a 2012 batch Indian Administrative Service (IAS) officer of the Kerala cadre. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the ministry to first address the board composition, before appointing its nominees to the board. We do not support the resolution
  • LIC Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Delayed shareholders approval.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  10 for14 against
• Approval of appointment of Dr. Seema Suri (DIN: 11117145) as Non-official (Independent) Director.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundMs. Seema Suri, 54, is Founder and National President of Sarva Seva Sansthan, an organization involved in social welfare. She was a teacher and block-in-charge at Delhi Public School, Vasant Kunj from 1999 to 2016. Currently, she is a Member of Film Censor Board Advisory Committee, Delhi. Public sources indicate that she has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed her political affiliation as a part of her profile. While public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as a good practice, the company should have sought approval for his appointment within three months. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
  • Invesco Mutual FundMs. Seema Suri, 54, is Founder and National President of Sarva Seva Sansthan, an organization involved in social welfare. She was a teacher and block-in-charge at Delhi Public School, Vasant Kunj from 1999 to 2016. Currently, she is a Member of Film Censor Board Advisory Committee, Delhi. Public sources indicate that she has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed her political affiliation as a part of her profile. While public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as a good practice, the company should have sought approval for his appointment within three months. We do not support the resolution
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval, Term of appointment is ambiguous and against spirit of the law.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • UTI Mutual FundPublic sources suggest she is politically affiliated.

  9 for15 against
• Approval of appointment of M/s. SEP & Associates as Secretarial Auditors for a term of five years from FY 2025–26 to FY 2029–30.

  24 for0 against
• To ratify the remuneration of Rs. 1,50,000 per annum plus applicable taxes to the Cost Auditors, M/s. Rajendran Mani and Varier, for the financial year 2025-26.

  24 for0 against

• Unlisted stake boughtMaritech Integrated Maritime Private LimitedSince 19 Jun 2026

  4.99% bought in the quarter; holding 4.99%, from 0.00%

• Fine or penaltyBSE LimitedSince 27 May 2026

  Imposition of fine of Rs. 9,55,800 (incl. GST @18%) pursuant to Chapter VII: Penal Actions for Non-Compliance of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

  Non-compliance with Regulation 17(1) (Composition of Board of Directors – absence of sufficient number of Independent Directors), and Regulations 18 and 19 (Non-compliance with the constitution of audit committee and nomination and remuneration committee) of the SEBI LODR Regulations during the quarter ended March 31, 2026.MoreLess
• Fine or penaltyNational Stock Exchange of India LimitedSince 27 May 2026

  Imposition of fine of Rs. 9,55,800 (incl. GST @18%) pursuant to Chapter VII: Penal Actions for Non-Compliance of SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

  Non-compliance with Regulation 17(1) (Composition of Board of Directors – absence of sufficient number of Independent Directors), and Regulations 18 and 19 (Non-compliance with the constitution of audit committee and nomination and remuneration committee) of the SEBI LODR Regulations during the quarter ended March 31, 2026.MoreLess

In the company's own words, from its latest governance filing.

The board is made up as the listing rules require

No

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

Yes

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.