Electrosteel Steels (Delisted) MD, chairman, board of directors and AGM

BSE: 533264

Last traded ₹31.00 on 12 Dec 2018

Delisted on 20 Dec 2018.

Electrosteel Steels 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.Electrosteel Steels share news and announcements

Annual general meeting, 29 Sep 2018

Present: 1 promoter and 44 others.The company's voting result (opens in a new tab)

  1. Adoption of Annual Financial Statement for the year ended 31st March, 2018
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 41.17%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  2. Appointment of Mr. Prasun Kumar Mukherjee (DIN: 00015999) as an Independent Director
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 41.27%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  3. Appointment of Mr. Naveen Kumar Singhal (DIN: 02642057) as Director
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 41.00%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  4. Appointment of Ms. Rashmi Mohanty (DIN: 07072541) as Director
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.38%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  5. Appointment of Mr. Mahendra Singh Mehta (DIN : 00019566) as an Independent Director
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 41.77%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  6. Ratification of remuneration payable to M/s. S G & Associates, Cost Accountants as Cost Auditors of the Company for the F.Y. 2018-19
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 42.31%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

  7. To approve loan, investments and guarantee by Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 41.09%

    Turnout: all 90.00% · promoters 100.00% · institutions 0.00% · other public 0.11%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 20 Feb 2015, 1 fund house

  • Approval for payment of remuneration to Mr Rama Shankar Singh as a Whole-Time Director of the Company for the period 1 April 2014 to 5 February 2017.
    1 for0 against
  • Consent to issue and allot 52,30,000 equity shares of Rs 10 each by way of preferential allotment to the Promoter of the Company, namely Electrosteel Castings Ltd. in terms of CDR Package approved by the Corporate Debt Restructuring Empowered Group.MoreLess
    1 for0 against
  • The draft regulations including all headings contained in the Articles of Association, submitted to this meeting approved and adopted in substitution and to the entire exclusion, of the regulations contained in the existing Articles of Association of the Company.MoreLess
    1 for0 against
  • The Register of Members, Register of Debenture holders and Register of other security holders be kept at any other place in India in which more than one-tenth of the total number of members entered in the Register of Members reside notwithstanding that the registered office of the Company is situated at such place or not.MoreLess
    1 for0 against

Mutual fund votes, meeting of 16 Sep 2014, 1 fund house

  • Appointment of Ms Radha Kinkari Kejriwal, a relative of Mr. Umang Kejriwal, Director of the Company, to hold office or place of profit under the Company as 'officer on special duty' on a revised remuneration of Rs.80,00,000 p.a. w.e.f 01.04.2014 with yearly increase of Rs.10,00,000 p.a (i.e Rs. 90,00,000 p.a w.e.f 01.04.2015 and Rs. 100,00,000 p.a w.e.f. 01.04.2016) and as per such terms and conditions as may be decided by the BoardMoreLess
    Against ICICI Prudential Mutual Fund
    • ICICI Prudential Mutual FundSince the projects of the Associate Company are yet to be completed and the Corporate Debt Restructuring proposal is under consideration it was proposed to Vote “AGAINST” Resolution.
    0 for1 against
  • M/s S. G. & Associates, Cost Accountants be and are hereby re-appointed as the Cost Auditors to conduct the cost audit of the Company for the financial year 2014-15 and fixation of remuneration
    1 for0 against
  • Mr. Jinendra Kumar Jain, be and is hereby appointed as a Non-Executive Independent Director of the Company.
    1 for0 against
  • Mr. Naresh Pachisia, be and is hereby appointed as a Non-Executive Independent Director of the Company.
    1 for0 against
  • Mr. Rajkumar Khanna, be and is hereby appointed as a Non- Executive Independent Director of the Company.
    1 for0 against
  • Mr. Sunil Vasant Diwakar, be and is hereby appointed as a Director of the Company liable to retire by rotation.”
    1 for0 against
  • The consent of the Company be and is hereby accorded, for entering into the Related Parties Transactions with Electrosteel Castings Ltd and Lanco Industries Ltd and such other transactions as required in connection to efficiently carry out the operations of the Company for the period April 1, 2014 till September 30, 2015.MoreLess
    1 for0 against
  • To appoint a Director in place of Mr. Lalit Kumar Singhi who retires by rotation and is eligible for reappointment.
    1 for0 against
  • To appoint a Director in place of Mr. Umang Kejriwal who retires by rotation and is eligible for re-appointment
    1 for0 against
  • To appoint M/s. B Chhawchharia & Co., Chartered Accountants, as Statutory Auditors of the Company and fix their remuneration.
    1 for0 against
  • To receive, consider and adopt the Audited Balance Sheet as on March 31, 2014 and Statement of Profit and Loss for the Financial Year ended on that date and Cash Flow Statement for the year ended on that date together with the Reports of the Directors and Auditors thereonMoreLess
    1 for0 against

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