Emcure Pharmaceuticals CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 21 Sep 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)

• 1 - To receive, consider and adopt: a) the Audited Standalone Financial Statements of the Company for the Financial Year ended on March 31, 2026, together with the Report of the Board of Directors and the Auditors thereon; and b) the Audited Consolidated Financial Statements of the Company for the Financial Year ended on March 31, 2026, together with the Report of the Auditors thereon.MoreLess

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

  • Angel One Mutual FundNon-disclosure of the audited financial statements of few Subsidiaries on the website of the Company.
  • Edelweiss Mutual Fund, Navi Mutual FundUnqualified financial statements (except minor observation in CARO Report). Non-Compliant with Companies Act, 2013 and Regulation 46(2)(s) of SEBI LODR: Non-disclosure of the audited financial statements of few Subsidiaries on the website of the Company.

  7 for3 against
• To declare Final Dividend of Rs. 3.60/- (Rupees Three and Sixty Paise only) per Equity Share of Face Value of Rs. 10/- each (Rupees Ten only) for the Financial Year ended on March 31, 2026.

  10 for0 against
• To appoint Mrs. Namita Thapar (DIN: 05318899) as a Director who retires by rotation and being eligible, offers herself for re-appointment.

  10 for0 against
• To consider retirement of Mr. Berjis Desai (DIN: 00153675), Chairman and Non-Executive Non-Independent Director.

  10 for0 against
• To ratify remuneration payable to the Cost Auditor for the Financial Year 2026-27.

  10 for0 against
• To re-appoint Dr. Mukund Gurjar (DIN: 00026843) as a Whole-time Director of the Company.

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

  • Angel One Mutual FundPrior approval of shareholders not obtained for the continuation of the Executive Director beyond the age of 70 years. Governance Concern: Appointment proposed for a term of only 1 year, which may impact the leadership duties and no specific justification has been provided in the notice.
  • Edelweiss Mutual Fund, Navi Mutual FundNo concern identified w.r.t. the merits of the Director. Non-Compliance with Section 196 of the Companies Act, 2013: Prior approval of shareholders not obtained for the continuation of the Executive Director beyond the age of 70 years. Governance Concern: Appointment proposed for a term of only 1 year, which may impact the leadership duties and no specific justification has been provided in the notice.

  7 for3 against
• To re-appoint Mr. Satish Mehta (DIN: 00118691) as a Managing Director & Chief Executive Officer of the Company.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, Quantum Mutual Fund

  • Angel One Mutual FundGovernance & Transparency concern: No absolute cap on variable pay or total remuneration. Skewed/Excessive remuneration towards proposed promoter director and Inadequate justification & disclosures in the notice for payment of remuneration in excess of legal limits.
  • DSP Mutual Fund, Jio BlackRock Mutual FundSatish Mehta, 73, is Founder, Managing Director, Chief Executive Officer and part of promoter family. The company also proposes to appoint him as Executive Chairperson from conclusion of FY26 AGM. He attended all six (100%) board meetings held in FY26. In FY26, he received remuneration of Rs. 324.0 mn. We estimate his annual remuneration at Rs. 580.1 mn, which is high compared to scale of company’s operations and industry peers. His remuneration structure is open-ended with no absolute cap on commission. The company must disclose the performance metrics and set performance threshold, achievement of which should trigger commission payout.Further, the aggregate remuneration to promoters for FY26 was Rs. 474.6 mn, which is high. While we support his appointment as Managing Director and Chief Executive Officer, given the concerns on his remuneration, we do not support this resolution.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern identified w.r.t. the merits of the Director. Governance & Transparency concern: No absolute cap on variable pay or total remuneration. Skewed/Excessive remuneration towards proposed promoter director and Inadequate justification & disclosures in the notice for payment of remuneration in excess of legal limits.
  • ICICI Prudential Mutual FundSatish Mehta, 73, is Founder, Managing Director, Chief Executive Officer and part of promoter family. The company also proposes to appoint him as Executive Chairperson from conclusion of FY26 AGM. He attended all six (100%) board meetings held in FY26. In FY26, he received remuneration of Rs. 324.0 mn. His annual remuneration is estimated at Rs. 580.1 mn, which is high compared to scale of company’s operations and industry peers. His remuneration structure is open-ended with no absolute cap on commission. The company must disclose the performance metrics and set performance threshold, achievement of which should trigger commission payout. Further, the aggregate remuneration to promoters for FY26 was Rs. 474.6 mn, which is high.Given the concerns on his remuneration, the AMC has voted against the resolution.
  • Quantum Mutual FundThe company seeks shareholders’ approval to reappoint Satish Mehta as Managing Director and Chief Executive Officer for five years from 1 April 2027 and fix his remuneration in excess of regulatory thresholds, not exceeding 15% of net profits for all executive directors and 16% for all directors. The company also proposes to appoint him as Executive Chairperson from conclusion of FY26 AGM. We are of the view that a clubbed position of Chairman & MD – CEO may lead to concentration of power. Therefore, we do not favor his reappointment and resolution.

  3 for7 against
• To appoint Mr. Raghu Kumar (DIN: 01983106) as an Independent Director of the Company.

  10 for0 against

Mutual fund votes, meeting of 24 Apr 2026, 20 fund houses

• Appointment of Mr. C S Muralidharan (DIN: 00014740) as an Independent Director of the Company

  20 for0 against

• Tax disputeDeputy Commissioner of Income tax, Central Circle 2 (1)- PuneSince 27 Dec 2023
  The revised notices of demand giving effect to the CIT(A) orders for Financial Years 2014-15 to 2020-21 are yet to be received from the Assessing Officer. Further, with respect to the disallowances sustained by the CIT(A) in these years, the Company has filed appeals before the Income Tax Appellate Tribunal (ITAT), which are currently pending adjudication. In respect of Financial Years 2021-22 to 2022-23, the status of proceedings remain unchanged.MoreLess
  At the filing before: The Company has received assessment orders u/s 143(3) rws 144C(3) and r.w.s 153A of the Income Tax Act, 1961, for the Financial Year 2014-15 until Financial Year 2020-21 (Assessment Year 2015-16 to Assessment Year 2021-22) for an aggregate demand of Rs. 1,828.15 million and order u/s 143(3) for Financial Year 2021-22 to Financial Year 2022-23 (Assessment Year 2022-23 to Assessment Year 2023-24) for demand of Rs. 45.77 million payable on account of disallowance of certain advertisement and promotional expenses and transfer pricing adjustments made. The Company has filed appeals in relation to such orders with the Commissioner of Income Tax (Appeals).The cases are pending for disposal with Commissioner of Income Tax (Appeals). The Company has received orders dated 31-03-2026, passed by the CIT(A), in respect of appeals filed against the orders u/s. 153A of the Act for the Financial Year 2014-15 until Financial Year 2020-21 (Assessment Year 2015-16 to Assessment Year 2021-22), wherein partial relief has been granted by deleting or reducing certain additions made by the Assessing Officer.MoreLess
• Tax disputeDeputy Commissioner of Income tax, Central Circle 2 (1)- PuneSince 22 Oct 2022
  The cases are pending for disposal with Commissioner of Income Tax (Appeals).
  At the filing before: Subsidiary of Company, Zuventus Healthcare Limited (Zuventus) has received assessment orders u/s 143(3) r.w.s 153A of the Income Tax Act, 1961, for the Financial Year 2014-15 until Financial Year 2020-21 (Assessment Year 2015-16 to Assessment Year 2021-22) for an aggregate demand of Rs. 1,098.07 million and order u/s 143(3) for Financial Year 2021-22 to Financial Year 2023-24 (Assessment Year 2022-23 to 2024-25) for demand of Rs. 38.71 million payable on account of disallowances of certain advertisement and promotional expenses. Zuventus has filed appeals in relation to such orders with the Commissioner of Income Tax (Appeals). The cases are pending for disposal with Commissioner of Income Tax (Appeals).MoreLess

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

The board is made up as the listing rules require

Yes

The board has a regular chairperson

Yes

The company has a risk management committee

Yes

The chair is related to the managing director

No

The filing has a part on fines and penalties

No

The filing has a part on tax disputes

Yes

There was a cyber security incident in the quarter

No

The company's own answers in its filing.