Easun Reyrolle MD, chairman, board of directors and AGM

Formerly Easun Reyrolle Relays and Devices

Trading suspended since 7 Oct 2022

Last traded ₹2.40 on 6 Oct 2022

Easun Reyrolle 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.Easun Reyrolle dividend history

Postal ballot, 18 Mar 2020

The company's voting result (opens in a new tab)

To Approve / ratify the re-appointment of Mr. Hari Haran Eswaran as Non-Executive, Non-Independent Director and Promoter / Chairman
SpecialPromoters have an interest in it
99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 2.18%
Turnout: all 36.39% · promoters 99.13% · institutions 0.00% · other public 1.15%

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 Nov 2019, 5 resolutions

Present: 4 promoters and 104 others.The company's voting result (opens in a new tab)

To consider and adopt the Audited Profit and Loss Account for the year ended 31stnMarch, 2019, the Balance Sheet as at 31st March, 2019 (including audited consolidatednfinancial statements) and the reports of Board of Directors and Auditors thereonMoreLess
Ordinary
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.68%
Turnout: all 36.32% · promoters 99.13% · institutions 0.00% · other public 1.02%
To appoint a Director in place of Mr Hariharan Eswaran, Non-Executive Chairmannwho retires by rotation and being eligible for re-appointment offers himself for reappointment.
OrdinaryPromoters have an interest in it
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.68%
Turnout: all 36.32% · promoters 99.13% · institutions 0.00% · other public 1.02%
To appoint Mr Raj Hari Eswaran (DIN No. 00195354) as Managing Director of thenCompany for a further period of 3 (Three) years w.e.f. 1st April, 2020 to 31st March,n2023 and in this regard to consider and, if thought fit, to pass the following Resolution asna Special ResolutionMoreLess
SpecialPromoters have an interest in it
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.68%
Turnout: all 36.32% · promoters 99.13% · institutions 0.00% · other public 1.02%
To appoint Mr Rakesh Garg (DIN No. 00240379) as an Independent Non-ExecutivenDirector of the Company for a Second Term of 5 years and in this regard to considernand if thought fit, to pass with or without modification(s), the following resolution as anSpecial ResolutionMoreLess
Special
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.68%
Turnout: all 36.32% · promoters 99.13% · institutions 0.00% · other public 1.02%
To Appoint Ms Sweta Mandora Prajapati (DIN No. 06903165) as an Independent Non-nExecutive Director of the Company for a second term of 5 years and in this regardnto consider and if thought fit, to pass with or without modification(s), the followingnresolution as a Special ResolutionMoreLess
Special
99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.68%
Turnout: all 36.32% · promoters 99.13% · institutions 0.00% · other public 1.02%

Annual general meeting, 29 Sep 2018, 2 resolutions

Present: 4 promoters and 116 others.The company's voting result (opens in a new tab)

To Consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2018, the Balance Sheet as at 31st March, 2018 and the reports of Board of Directors and Auditors thereon.
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.37%
Turnout: all 40.77% · promoters 99.81% · institutions 48.94% · other public 0.24%
To Appoint a Director in place of Mr Hari Eswaran who retires by rotation and is eligible for re-appointment.
OrdinaryPromoters have an interest in it
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.37%
Turnout: all 40.77% · promoters 99.81% · institutions 48.94% · other public 0.24%

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 2018, 2 fund houses

To Consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2018, the Balance Sheet as at 31st March, 2018 and the reports of Board of Directors and Auditors thereon.
2 for0 against
To Appoint a Director in place of Mr Hari Eswaran who retires by rotation and is eligible for re-appointment.
2 for0 against

Mutual fund votes, meeting of 30 Sep 2017, 2 fund houses

Approval for creation of charge
1 for0 against
Approval to increase the borrowing limits upto Rs.450 crores
1 for0 against
To appoint a Director in place of Mr Hari Eswaran who retires by rotation and is eligible for re-appointment
1 for0 against
To appoint M/s. K S Rao & Co., Chartered Accountants, (Firm Registration Number 003109S) as the Statutory Auditor of the Company & to fix their remuneration
1 for0 against
To authorise Board of Directors to borrow any sum or sums of money from time to time at its discretion, for the purpose of the business of the Company, from any one or more Banks, Financial Institutions and other Persons, Firms, Bodies Corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may, at any time, exceed the aggregate of the paid-up share capital of the Company and its free reserves (that is to say reserves not set apart for any specific purpose), subject to such aggregate borrowings not exceeding the amount which is Rs.450 crores (Rupees Four Hundred and Fifty crores only) over and above the aggregate of the paid-up share capital of the Company and its free reservesMoreLess
1 for0 against
To authorise Board of Directors to create charge / mortgage / pledge / hypothecation / security in addition to existing charge / mortgage / pledge / hypothecation / security on all or any of the moveable and / or immovable properties, tangible or intangible assets of the CompanyMoreLess
1 for0 against
To consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2017, the Balance Sheet as at 31st March, 2017 and the reports of Board of Directors and Auditors thereon
1 for0 against

3 earlier meetings

Mutual fund votes, meeting of 30 Sep 2016, 2 fund houses

Appointment of Ms. Sweta Mandora Prajapati as an Independent Director of the Company for three years w.e.f. 30th September, 2016
1 for0 against
Re-appointment of Mr. Raj H. Eswaran as Managing Director of the Company upto 31st March, 2020 and to approve his terms of appointment
1 for0 against
To appoint a Director in place of Mr Hari Eswaran who retires by rotation and is eligible for re-appointment.
1 for0 against
To appoint Ms. Sweta Mandora Prajapati (DIN NO. 06903165) as an Independent Director of the Company
1 for0 against
To consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2016, the Balance Sheet as at 31st March, 2016 and the reports of Board of Directors and Auditors thereon
1 for0 against
To re-appoint M/s Brahmayya & Co, Chartered Accountants and M/s R Subramanian & Co, Chartered Accountants, as auditors and to fix their remuneration
1 for0 against
To re-appoint Mr Raj H Eswaran(DIN No. 00195354) as Managing Director of the Company for a further period of 3(Three) years w.e.f. 1st April, 2017 to 31st March, 2020 and fixation of remuneration
1 for0 against

Mutual fund votes, meeting of 28 Sep 2015, 2 fund houses

Approval for revision in remuneration payable to Mr. Raj H Eswran, Managing Director of the Company w.e.f.. April 2015 upto 31st March, 2017
1 for0 against
Fixation of remuneration of Mr Raj H Eswran, Managing Director of the Company with effect from April, 2015 for remaining duration of appointment upto 31st March, 2017
1 for0 against
Reappointment of M/s. Brahmayya & Co., Chartered Accountants and M/s. R Subramanian & Co., Chartered Accountants, as Joint Statutory Auditors of the Company and fixation of remuneration
1 for0 against
To appoint a Director in place of Mr Hari Eswaran who retires by rotation and is eligible for re-appointment
1 for0 against
To consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2015, the Balance Sheet as at 31st March, 2015 and the reports of Board of Directors and Auditors thereon
1 for0 against

Mutual fund votes, meeting of 29 Sep 2014, 3 fund houses

A sum not exceeding one percent per annum of the net profits of the Company calculated in accordance with the provisions of Section 198 of the Companies Act, 2013, be paid to Non-Executive Directors (including Independent Directors, other than the Managing Director \ Whole-time Directors) of the Company and distributed amongst such Directors in such manner and in all respects as may be decided and directed by the Board of Directors and such payments shall be made in respect of the profits of the Company, for a period of five years commencing from financial year ended 31st March, 2015 to 31st March, 2019MoreLess
1 for0 against
A sum not exceeding one percent per annum of the net profits of the Company calculated in accordance with the provisions of Section 198 of the Companies Act, 2013, be paid to Non-Executive Directors of the Company and distributed amongst such Directors in such manner and in all respects as may be decided and directed by the Board of Directors and such payments shall be made in respect of the profits of the Company.MoreLess
1 for0 against
Appointment of Dr William Stanley Jones as an Independent Director of the Company for a period of 5 yrs.
1 for0 against
Appointment of M/s Brahmayya & Co., Chartered Accountants (Firm Registration No.000511S), and M/s R Subramanian & Co., Chartered Accountants (Firm Registration No.004137S), as Joint Statutory Auditors of the Company and to fix their remunerationMoreLess
1 for0 against
Appointment of Mr. M. Raman as an Independent Director of the Company for a period of 5 yrs.
1 for0 against
Appointment of Mr. Rakesh Garg as an Independent Director of the Company for a period of 5 yrs.
1 for0 against
Approval for related party transactions
1 for0 against
Dr William Stanley Jones (holding DIN No.00196064), be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Dr William Stanley Jones (holding DIN No.00196064), Director of the Company be and is hereby appointed as an Independent Director of the Company.
Against Bandhan Mutual Fund
Bandhan Mutual FundWilliam Stanley Jones has been on the board of the company for the past 22 years. The length of tenure is inversely proportionate to the independence of a director. Due to William Stanley Jones’s long association (>10 years) with the company, he is considered non-independent. If the company believes that it will benefit from William Stanley Jones serving on the board, it must consider appointing him as a non-independent director, and appoint additional independent directors to ensure its board composition is compliant with Clause 49 of SEBI’s Listing Agreement.
0 for1 against
Increase in the borrowing limits of the Company upto Rs. 300 crore
1 for0 against
M/s Brahmayya & Co., Chartered Accountants (Firm Registration No.000511S), and M/s R Subramanian & Co., Chartered Accountants (Firm Registration No.004137S), be and are hereby appointed as Joint Statutory Auditors of the Company and to fix such remuneration as may be determined by the Audit Committee in consultation with the Auditors, and that such remuneration as may be agreed upon between the Auditors and the Board of Directors.MoreLess
Against Bandhan Mutual Fund
Bandhan Mutual FundEasun proposes to reappoint Brahmayya & Co. and R Subramanian & Co. as joint statutory auditors: Brahmayya & Co. and R Subramanian & Co. both have been Easun’s statutory auditors for the past 24 years. The reappointment does not follow the spirit of Section 139 of the Companies Act 2013. Under section 139 of the Companies Act 2013, an audit firm’s tenure may extend to a maximum of two consecutive terms of five years each (maximum 10 years). Although the Act has given companies a three-year window to comply, we expect companies to be proactive and start abiding by the spirit of the regulations at the earliest.
0 for1 against
Mr M Raman (holding DIN No.01226770), be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Mr M Raman (holding DIN No.01226770), Director of the Company be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Mr Rakesh Garg (holding DIN No.00240379), be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Mr Rakesh Garg (holding DIN No.00240379), Director of the Company be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Payment of remuneration to Non-Executive Directors of the Company
1 for0 against
The Board of Directors and the Articles of Association of the company, to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the company notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company may, at any time, exceed upto a sum of Rs.300 CroresMoreLess
Against Bandhan Mutual Fund
Bandhan Mutual FundEasun seeks shareholders’ approval to borrow up to Rs. 3 bn over and above the net worth of the company. As on 31 March 2014, the net worth is of Rs. 1.9 bn. Hence the total proposed borrowing limit as on 31 March 2014 aggregates Rs. 4.9 mn. Easun’s leaverage ratios are moderate. As on 31 March 2014, debt-equity is at 1.1x and debt-EBIDTA is at 29.9x. If the company raises debt to the full extent of the borrowing limit, credit protection measures will be deteriorate: debt-equity will be at 2.6x and debt-EBIDTA will be at 68.6x. The company has incurred standalone net loss in the last two years. Further borrowing with poor profitability will have a material impact on the company’s financial profile.
0 for1 against
The consent of the Company be and is hereby accorded for entering into the related party transactions by the Company with the respective related parties and for the maximum amounts per annum.
2 for0 against
To appoint a Director in the place of Mr Hari Eswaran (DIN No.00196760) who retires by rotation and is eligible for re-appointment.
2 for0 against
To authorise the Board of Directors to borrow any sum or sums of money from time to time at their discretion, for the purpose of the business of the company, from any one or more Banks, Financial Institutions and other persons, firms, bodies corporate, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained from the Company’s Bankers in the ordinary course of business) may, at any time, exceed upto a sum of Rs.300 Crores (Rupees Three hundred Crores) over and above the aggregate of the paid up capital of the company and its free reserves (that is to say reserves not set apart for any specific purpose) and that the Board of Directors be and is hereby empowered and authorised to arrange or fix the terms and conditions of all such monies to be borrowed from time to time as to interest, repayment, security or otherwise as they may, in their absolute discretion, think fit.MoreLess
1 for0 against
To consider and adopt the Audited Profit and Loss Account for the year ended 31st March, 2014, the Balance Sheet as at 31st March, 2014 and the reports of Board of Directors and Auditors thereon.
1 for0 against
1 abstained

Each fund house counted once, from its own disclosure; the reasons are its own words.