Valor Estate MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 19 Apr 2026, 15 fund houses

• To approve the appointment of Mr. Sundaram Rajagopal (DIN: 01951392) as an Independent Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundGovernance concern: Appointed as Chairperson of the Audit and Nomination & Remuneration Committee which may lead to concentration of power in the hands of a single individual.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance concern: Appointed as Chairperson of the Audit and Nomination & Remuneration Committee which may lead to concentration of power in the hands of a single individual.
  • Motilal Oswal Mutual FundAppointed as Chairperson of AC and NRC.
  • Nippon India Mutual FundGovernance Concern: Appointed as Chairperson of the Audit and Nomination & Remuneration Committee which may lead to concentration of power in the hands of a single individual.

  8 for7 against
• To approve the Related Party Transactions with Advent Hotels International Limited and Bamboo Hotel and Global Centre (Delhi) Private Limited, Related Parties

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed Related Party Transactions.Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking; Further, the justification does not provide sufficient clarity for the proposed transaction.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed RPTs. Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking; Further, the justification does not provide sufficient clarity for the proposed transaction.
  • Kotak Mahindra Mutual FundThe Company has not adequately disclosed the basis for arm s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed RPTs. The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking; Further, the justification does not provide sufficient clarity for the proposed transaction
  • Motilal Oswal Mutual FundThe Company has not provided sufficient clarity for the proposed transaction; Inadequate disclosure w.r.t. Basis of arm’s length pricing; No details regarding the contribution being made by other shareholders
  • Nippon India Mutual FundGovernance and Transpsrency Concern: Inadequate disclosure of arm's length pricing basis, lack of clarity on risk compensation, absence of confirmation of similar support from other shareholders, and insufficient justification limits shareholders' ability to make informed decisions on the proposed RPTs.

  7 for8 against
• To approve Material Related Party Transaction(s) of the Company with Worli Urban Development Project LLP, a Joint Venture of the Company

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed Related Party Transactions.Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual FundWorli Urban Development Project LLP (WUDP) is a 50:50 Joint Venture between Valor Estate and Prestige Group. The company seeks approval to provide loans/project advances of up to Rs. 2.5 bn to WUDP. The financial support is linked to development of the Empire Towers project, which comprises a high-end residential complex, 800 keys hotel, a luxury mall, and high-end club located at Worli, Mumbai. The company should have disclosed the terms of financial support, including tenure and rate of interest. Further, the company has not clarified whether the proposed financial support will be extended in proportion to its 50% economic interest in the joint venture. In the absence of clarity on the terms of funding and whether the financial support will be in the ratio of economic interest, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed RPTs. Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking.
  • ICICI Prudential Mutual FundWorli Urban Development Project LLP (WUDP) is a 50:50 Joint Venture between Valor Estate and Prestige Group. The company seeks approval to provide loans/project advances of up to Rs. 2.5 bn to WUDP. The financial support is linked to development of the Empire Towers project, which comprises a high-end residential complex, 800 keys hotel, a luxury mall, and high-end club located at Worli, Mumbai. The company should have disclosed the terms of financial support, including tenure and rate of interest. Further, the company has not clarified whether the proposed financial support will be extended in proportion to its 50% economic interest in the joint venture. In the absence of clarity on the terms of funding and whether the financial support will be in the ratio of economic interest and hence the AMC had voted against the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundInadequate disclosure w.r.t. Basis of arm’s length pricing. No details regarding the contribution being made by other shareholders
  • Nippon India Mutual FundGovernance and Transparency Concern: Inadequate disclosure of arm's length pricing basis and lack of clarity on risk compensation, with no confirmation of similar support from other shareholders, limits shareholders' ability to make informed decisions on the proposed RPTs.

  3 for12 against
• To approve Material Related Party Transaction(s) of the Company with Shiv Infra Riverwalk Private Limited, a Joint Venture of the Company

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed Related Party Transactions.Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking.
  • Axis Mutual Fund, Jio BlackRock Mutual FundShiv Infra Riverwalk Private Limited (Shiv Infra) is a 50:50 Joint Venture of the Company in partnership with RC Group. The company seeks approval to provide loans/project advances/inter-corporate deposits and other financial support of up to Rs. 2.5 bn to Shiv Infra. Financial support is linked to a redevelopment project in Bandra (East), Mumbai, which comprises approx. 4,953 hutment dwellers which need to be rehabilitated. The project is currently at the site preparation stage. The company has not disclosed key terms of the proposed financial support, including the tenure, pricing, and security of the loans/advances. Further, it has not clarified whether the funding will be extended in proportion to its 50% economic interest in the joint venture. In the absence of clarity on the terms of funding and whether the financial support will be in the ratio of shareholding, we do not support the resolution
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance Concern: The Company has not adequately disclosed the basis for arm’s length pricing, in absence of which shareholders cannot make informed decisions regarding the proposed RPTs. Transparency Concern: The Company is extending support to the proposed entities however, it is unclear if the other shareholders are extending similar support or if the Company is being compensated for the additional risk it is taking.
  • ICICI Prudential Mutual FundShiv Infra Riverwalk Private Limited (Shiv Infra) is a 50:50 Joint Venture of the Company in partnership with RC Group. The company seeks approval to provide loans/project advances/inter-corporate deposits and other financial support of up to Rs. 2.5 bn to Shiv Infra. Financial support is linked to a redevelopment project in Bandra (East), Mumbai, which comprises approx. 4,953 hutment dwellers which need to be rehabilitated. The project is currently at the site preparation stage. The company has not disclosed key terms of the proposed financial support, including the tenure, pricing, and security of the loans/advances. Further, it has not clarified whether the funding will be extended in proportion to its 50% economic interest in the joint venture. In the absence of clarity on the terms of funding and whether the financial support will be in the ratio of shareholding and hence the AMC had voted against the resolution.
  • Kotak Mahindra Mutual FundShiv Infra Riverwalk Private Limited (Shiv Infra) is a 50:50 Joint Venture of the Company in partnership with RC Group. The company seeks approval to provide loans/project advances/inter-corporate deposits and other financial support of up to Rs. 2.5 bn to Shiv Infra. Financial support is linked to a redevelopment project in Bandra (East), Mumbai, which comprises approx. 4,953 hutment dwellers which need to be rehabilitated. The project is currently at the site preparation stage. The company has not disclosed key terms of the proposed financial support, including the tenure, pricing, and security of the loans/advances. Further, it has not clarified whether the funding will be extended in proportion to its 50% economic interest in the joint venture. In the absence of clarity on the terms of funding and whether the financial support will be in the ratio of shareholding, we do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundInadequate disclosure w.r.t. Basis of arm’s length pricing. No details regarding the contribution being made by other shareholders
  • Nippon India Mutual FundGovernance and Transparency Concern: Inadequate disclosure of arm's length pricing basis and lack of clarity on risk compensation, with no confirmation of similar support from other shareholders, limits shareholders' ability to make informed decisions on the proposed RPTs.

  3 for12 against
• To approve appointment of Mr. Arshad Balwa, who is a relative of Mr. Shahid Balwa, as President- Acquisitions and Operations to hold the Office or place of profit

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual FundNo prior approval of shareholders. Governance and Transparency concern: Basis of arriving at remuneration not disclosed. The disclosure regarding the basis of arriving proposed remuneration is a material disclosure for shareholders to ascertain the fairness of the remuneration.
  • Axis Mutual Fund, Jio BlackRock Mutual FundArshad Balwa, 29, is son of Shahid Balwa, promoter, Vice-Chairperson, and Managing Director of Valor Estate Limited. He holds a B.A (Hons) in Land Economy (Law, Economics and Environment) from the University of Cambridge, master’s in urban planning and real estate from the Harvard Graduate School of Design and MBA in Finance from Columbia Business School. Arshad Balwa also serves as Founder and Chairman of Jugyah.com, a technology enabled broker. Prior to working with Valor group and Jugyah, Arshad worked at TMG Partners, a real estate private equity firm. The Board of Directors appointed Arshad Balwa as President - Hotel Operations in Goregaon Hotel and Realty Private Limited, a wholly owned subsidiary of the company w.e.f. 12 February 2025 where he was engaged in project operations, strategic planning and addressing any operational challenges for ongoing and future projects. The company seeks to transfer him from Goregaon Hotels and Realty Pvt Ltd. to its payroll. Consequently, the company proposes to appoint Arshad Balwa as President- Acquisitions and Operations of Valor Estate Limited from 1 April 2026. We estimate his FY27 remuneration at Rs. 5.5 mn. The company has not disclosed a cap on total remuneration and does not specify a tenure, allowing for increase in remuneration without any cap, effectively seeking approval in perpetuity. We do not support perpetual resolutions and expect companies to seek shareholders’ approval on a periodic basis. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundNon-Compliant with Section 188 of Companies Act, 2013: Prior approval of shareholders not sought. Governance and Transparency concern: Basis of arriving at remuneration not disclosed. The disclosure regarding the basis of arriving proposed remuneration is a material disclosure for shareholders to ascertain the fairness of the remuneration. Hence, the same should form part of the disclosures made in the explanatory statement.
  • ICICI Prudential Mutual FundMr. Arshad Balwa appears to have the requisite experience for the proposed role, however, due to lack of clarity regarding basis of the determination of remuneration and non-disclosure of remuneration of other similar grade employees for a fair comparison, it raises governance and transparency concern. Hence, the AMC had voted against the resolution.
  • Kotak Mahindra Mutual FundArshad Balwa, 29, is son of Shahid Balwa, promoter, Vice-Chairperson, and Managing Director of Valor Estate Limited. He holds a B.A (Hons) in Land Economy (Law, Economics and Environment) from the University of Cambridge, master s in urban planning and real estate from the Harvard Graduate School of Design and MBA in Finance from Columbia Business School. Arshad Balwa also serves as Founder and Chairman of Jugyah.com, a technology enabled broker. Prior to working with Valor group and Jugyah, Arshad worked at TMG Partners, a real estate private equity firm. The Board of Directors appointed Arshad Balwa as President - Hotel Operations in Goregaon Hotel and Realty Private Limited, a wholly owned subsidiary of the company w.e.f. 12 February 2025 where he was engaged in project operations, strategic planning and addressing any operational challenges for ongoing and future projects. The company seeks to transfer him from Goregaon Hotels and Realty Pvt Ltd. to its payroll. Consequently, the company proposes to appoint Arshad Balwa as President Acquisitions and Operations of Valor Estate Limited from 1 April 2026. We estimate his FY27 remuneration at Rs. 5.5 mn. The company has not disclosed a cap on total remuneration and does not specify a tenure, allowing for increase in remuneration without any cap, effectively seeking approval in perpetuity. We do not support perpetual resolutions and expect companies to seek shareholders approval on a periodic basis. We do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Motilal Oswal Mutual FundNo prior approval of shareholders. Fairness of proposed remuneration cannot be ascertained.
  • Nippon India Mutual FundGovernance and Transparency Concern: Basis of arriving at the proposed remuneration has not been disclosed, which is a material disclosure necessary for shareholders to ascertain its fairness and should form part of the explanatory statement.

  3 for12 against

Mutual fund votes, meeting of 12 Dec 2025, 15 fund houses

• Approval for increase in the Authorised Share Capital of the Company and consequent alteration to the Capital Clause of the Memorandum of Association (MOA) of the Company

  15 for0 against
• Approval for issuance of 0.0001 percent Compulsory Convertible Preference Shares (CCPS) upon variation of terms of 8 percent, Redeemable Preference Shares (RPS), NonConvertible and Non-Cumulative of the CompanyMoreLess

  15 for0 against

Mutual fund votes, meeting of 30 Sep 2025, 15 fund houses

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

• To consider and adopt the Audited Financial Statements (including Audited Consolidated Financial Statements) for the Financial Year ended 31st March, 2025 and the Reports of the Directors and Auditors thereon:MoreLess

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundNon-disclosure of financial statements of few Subsidiaries on website.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Non-Compliant with Companies Act, 2013 and SEBI LODR Regulations: Non-disclosure of financial statements of few Subsidiaries for FY 2024-25 on website.
  • Kotak Mahindra Mutual FundNo concern has been identified with the proposed resolution. The auditors have not raised concerns on the financial statements. The financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards. The company has not duly uploaded the annual reports of the subsidiaries of the company which is a regulatory requirement. Hence, we do not support the resolution.

  7 for7 against
• To appoint Mr. Nabil Patel (DIN: 00298093), who retires by rotation and being eligible, offers himself for re-appointment as a Director

  15 for0 against
• Re-appointment of Mr. Vinod K. Goenka (DIN: 00029033) as an Executive Chairman cum Managing Director:

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance concern: Combined position of Chairman and Managing Director, may lead to concentration of powers in the hands of single individual.
  • Axis Mutual Fund, Jio BlackRock Mutual FundVinod K. Goenka, 66, is part of the promoter group and is the Chairperson and MD of Valor Estate Limited. He attended 70% (seven out of ten) board meetings in FY25 and 82% (23 out of 28) over last three years: we expect the directors to attend all board meetings. We raise concern that as per the February 2025 SEBI order, as Chairperson and Managing Director, Vinod Goenka was directly responsible for signing financial statements and CEO/CFO certifications during the SEBI’s investigation period (FY14 to FY21). SEBI’s order notes that he, along with Shahid Balwa, failed to disclose material events to stock exchanges, including loan recall notices, invocation of guarantees, and symbolic possession of properties by lenders. He also approved postal ballot notices that misrepresented the borrower’s repayment status. Notwithstanding the governance concerns raised, we note that the penalties imposed have been settled and the matters stand closed. As promoter, Chairperson and Managing Director of the company, Vinod Goenka has a role to play steering company ongoing projects. He received Rs. 14.2 mn as remuneration in FY25. We estimate the annual remuneration at Rs. 25.9 mn, which commensurate with the size of business. However, the remuneration structure also contains reimbursement of medicals expenses for self and family. We believe these expenses are personal in nature and should be borne by the directors themselves. While we support his reappointment, we do not support his remuneration terms. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Combined position of Chairman and Managing Director, may lead to concentration of powers in the hands of single individual.
  • ICICI Prudential Mutual FundVinod K. Goenka, 66, is part of the promoter group and is the Chairperson and MD of Valor Estate Limited. He attended 70% (seven out of ten) board meetings in FY25 and 82% (23 out of 28) over last three years: we expect the directors to attend all board meetings. We raise concern that as per the February 2025 SEBI order, as Chairperson and Managing Director, Vinod Goenka was directly responsible for signing financial statements and CEO/CFO certifications during the SEBI’s investigation period (FY14 to FY21). SEBI’s order notes that he, along with Shahid Balwa, failed to disclose material events to stock exchanges, including loan recall notices, invocation of guarantees, and symbolic possession of properties by lenders. He also approved postal ballot notices that misrepresented the borrower’s repayment status. Notwithstanding the governance concerns raised, we note that the penalties imposed have been settled and the matters stand closed. As promoter, Chairperson and Managing Director of the company, Vinod Goenka has a role to play steering company ongoing projects. He received Rs. 14.2 mn as remuneration in FY25. We estimate the annual remuneration at Rs. 25.9 mn, which commensurate with the size of business. However, the remuneration structure also contains reimbursement of medicals expenses for self and family. The AMC believe these expenses are personal in nature and should be borne by the directors themselves. Hence the AMC has voted against the resolution..
  • Kotak Mahindra Mutual FundVinod K. Goenka, 66, is part of the promoter group and is the Chairperson and MD of Valor Estate Limited. He attended 70% (seven out of ten) board meetings in FY25 and 82% (23 out of 28) over last three years. As promoter, Chairperson and Managing Director of the company, Vinod Goenka has a role to play steering company ongoing projects. He received Rs. 14.2 mn as remuneration in FY25. We estimate the annual remuneration at Rs. 25.9 mn, which commensurate with the size of business. There is no legal bar for Chairman to also hold MD position. However, the remuneration structure also contains reimbursement of medicals expenses for self and family. We believe these expenses are personal in nature and should be borne by the directors themselves. While we support his reappointment, we do not support his remuneration terms. We do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  3 for12 against
• Appointment of M/s. V. M. Kundaliya & Associates, Practicing Company Secretaries as a Secretarial Auditor

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Failure to highlight previous non-compliances by the Company in the Secretarial Audit Report or Annual secretarial Compliance Report.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: Failure to highlight previous non-compliances by the Company in the Secretarial Audit Report or Annual secretarial Compliance Report.
  • Kotak Mahindra Mutual FundThe company proposes to appoint V. M. Kundaliya & Associates as secretarial auditors for five years from 1 April 2025 and paying them a remuneration of Rs. 450,000 per annum plus applicable taxes and out-of-pocket expenses for FY26. The board is authorized to fix the remuneration from time to time. M/s. V. M. Kundaliya & Associates has been the Secretarial Auditors of the Company for the FY 2024-25 and has failed to highlight non-compliances by the Company in their Secretarial Audit Report or their Annual Secretarial Compliance Report. Hence, we do not support the resolution.

  8 for7 against

Mutual fund votes, meeting of 28 Mar 2025, 12 fund houses

• Composite Scheme of Amalgamation and Arrangement between Valor Estate Limited and Esteem Properties Private Limited and Advent Hotels International Private Limited and their respective shareholders and creditorsMoreLess

  12 for0 against

Mutual fund votes, meeting of 23 Mar 2025, 11 fund houses

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

• To approve Material Related Party Transaction(s) pertaining to Financial Transactions with Related Party(ies).

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t. the proposed transactions.
  • Edelweiss Mutual FundInadequate Disclosures w.r.t. the proposed RPTs
  • HDFC Mutual FundIt is unclear whether the financial support to be provided will be in the ratio of shareholding. The rationale for provision of financial support is not clear. Given, the lack of clarity, we do not support the resolution.
  • Kotak Mahindra Mutual FundThe Company has not disclosed if the transactions are in its Ordinary Course of Business or at Arm s Length. The company has not disclosed basis of arriving at the pricing of the transactions. Without such disclosures, shareholders may not be able to take informed decision on the matter. Hence voting against.
  • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
  • Nippon India Mutual FundInadequate Disclosure

  3 for7 against
• To approve Material Related Party Transaction(s) pertaining to Financial Transactions by the Wholly Owned Subsidiary companies of the Company with Related Party(ies)/ Subsidiary companies of the Company.MoreLess

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. Governance & Transparency Concern: Inadequate disclosures w.r.t. the proposed transactions.
  • Edelweiss Mutual FundInadequate Disclosures w.r.t. the proposed RPTs
  • HDFC Mutual FundIt is unclear whether the financial support to be provided will be in the ratio of shareholding. The rationale for provision of financial support is not clear. Given, the lack of clarity, we do not support the resolution.
  • Kotak Mahindra Mutual FundThe Company has not disclosed if the transactions are in its Ordinary Course of Business or at Arm s Length. The company has not disclosed basis of arriving at the pricing of the transactions. Without such disclosures, shareholders may not be able to take informed decision on the matter. Hence voting against.
  • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)

  4 for6 against
• To alter Articles of Association of the Company with respect to the Common Seal clause.

  11 for0 against

Mutual fund votes, meeting of 28 Dec 2024, 11 fund houses

• The approve Material Related Party Transactions with Bamboo Hotel and Global Centre (Delhi) Private Limited a Related Party of the Company

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance & Transparency concern: Inadequate disclosures w.r.t. proposed transaction.
  • Edelweiss Mutual FundInadequate disclosure w.r.t. the proposed RPT.
  • Nippon India Mutual FundInadequate Disclosure

  6 for5 against
• The approve Material Related Party Transaction(s) for providing securities/ guarantees by BD&P Hotels (India) Private Limited, subsidiary of the Company in connection with the term loan to be availed by Marine Tower Properties LLP (LLP), an LLP in which the Company through WOS holds 100% economic interest.MoreLess

  11 for0 against