Force Motors Ltd-$ MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 16 Sep 2026, 11 fund houses so far (houses' deadline to file 15 Oct 2026)

• To consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company, for the Financial Year ended on March 31, 2026, together with the Board’s Report and Auditors’ Report thereon.MoreLess

  11 for0 against
• To declare dividend for the Financial Year ended on March 31, 2026.

  11 for0 against
• To appoint a Director in place of Mr. Prasan Abhaykumar Firodia (DIN: 00029664), Managing Director, who retires by rotation and being eligible, offers himself for re-appointment.

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

  • Angel One Mutual FundGovernance concern: Remuneration practice of the Company is skewed in favor of the Promoter Managing Director.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concerns with the merits of the director. Governance concern: Remuneration practice of the Company is skewed in favor of the Promoter MD

  8 for3 against
• Contribution to bona fide charitable and other funds.

  ›Against Angel One Mutual Fund, Bajaj Finserv Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance & Transparency Concern: Inadequate disclosure regarding the organization(s) to which the Company intends to donate.; Perpetual Approval without specifying the tenure/duration of proposal and justification for such limits.
  • Bajaj Finserv Mutual FundThe company is seeking shareholders' approval to authorize the Board of Directors to make contributions or provide assistance to bona fide charitable and other funds up to ₹50 crore in any financial year, even if such contribution exceeds the limit prescribed under Section 181 of the Companies Act, 2013. The proposal is intended as an enabling authorization to support the company's sustainability and corporate responsibility commitments and to facilitate future contributions towards social and environmental initiatives. While the proposed authorization is in compliance with the applicable legal framework, the company has not disclosed adequate details regarding the intended beneficiaries, specific charitable organizations, trusts or funds to which such contributions may be made. The notice also does not provide sufficient information on the purpose, utilisation, selection criteria or expected outcomes of the proposed donations. In the absence of such disclosures, shareholders are unable to assess the appropriateness of the proposed contribution limit, evaluate whether the beneficiaries are aligned with the company's stated objectives, or make a fully informed voting decision. Transparency in relation to the deployment of corporate funds is particularly important when substantial financial limits are being sought from shareholders. Further, the company is seeking approval for contributions of up to ₹50 crore in any financial year without specifying a defined validity period for the authorization. The wording effectively creates a continuing or perpetual approval, allowing the Board to make such contributions in future years without returning to shareholders for fresh consent. Given that the permissible contribution threshold under Section 181 is linked to the company's average net profits and may vary over time, the appropriateness of the contribution limit should ideally be assessed in the context of the company's financial position and profitability during the relevant period. A time bound approval would have provided shareholders with an opportunity to periodically review and reassess the quantum and necessity of such donations. It is also noteworthy that the proposed limit of ₹50 crore exceeds the approximately ₹35.7 crore represented by 5% of the average net profits of the preceding three financial years. The company has not provided any specific justification supporting the need for a higher authorization limit, nor has it explained the basis for determining the proposed amount. Although the company's profitability has increased significantly in recent years, shareholders have not been provided with sufficient rationale demonstrating why a substantially higher and open-ended authorization is required. The absence of detailed disclosures regarding both the beneficiaries and the justification for the proposed limit raises concerns regarding transparency, oversight, and shareholder accountability in the utilisation of corporate funds. Given the inadequate disclosures relating to the proposed recipients and intended use of funds, coupled with the perpetual nature of the approval and the absence of a clear justification for the proposed limit, we have concerns regarding transparency and governance. Therefore, we are voting against the resolution.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund, Sundaram Mutual FundThe company proposes to contribute up to Rs. 500.0 mn to charitable and other funds even if it exceeds regulatory limits. We believe the companies should make charitable contributions within the 5% limit prescribed under section 181. Alternately, the company should consider paying this as dividend and let its shareholders make charitable donations if they desire. We do not support the resolution.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. Governance & Transparency Concern: Inadequate disclosure regarding the organization(s) to which the Company intends to donate.; Perpetual Approval without specifying the tenure/duration of proposal and justification for such limits.

  3 for8 against
• Ratification of remuneration to be paid to Cost Accountants.

  11 for0 against
• Re-appointment of Mr. Vallabh Roopchand Bhanshali (DIN: 00184775) as an Independent Director of the Company.

  11 for0 against
• Re-appointment of Mr. Mukesh Mangalbhai Patel (DIN: 00053892) as an Independent Director of the Company.

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

  • Angel One Mutual FundGovernance concern: Director has continuing non-material pecuniary relationship with the Company; Skewed remuneration in favor of promoter Executive Directors and the proposed director is chairperson of Nomination & Remuneration Committee.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with the law. No concern on the merits of proposed appointee. Governance concern: Director has continuing nonmaterial pecuniary relationship with the Company; Skewed remuneration in favor of promoter EDs and the proposed director is chairperson of NRC.

  8 for3 against
• Re-appointment of Ms. Sonia Prashar (DIN: 06477222) as an Independent Director of the Company.

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

  • Angel One Mutual FundGovernance concern: Skewed remuneration in favor of promoter Executive Directors and the proposed director is member of Nomination & Remuneration Committee.
  • Edelweiss Mutual Fund, Navi Mutual FundCompliant with the law. No concern on the merits of proposed appointee. Governance concern: Skewed remuneration in favor of promoter EDs and the proposed director is member of NRC.

  8 for3 against
• Amendment of the Object Clause of the Memorandum of Association of the Company.

  11 for0 against

Mutual fund votes, meeting of 14 Mar 2026, 23 fund houses

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

• Appointment of Mr. Gautam Hemant Bambawale (DIN: 08365776) as an Independent Director of the Company for first term of 5 years w.e.f. Friday, 19th December, 2025.

  22 for0 against
• Appointment of Mr. Nitin Nandkishor Kareer (DIN: 01624863) as an Independent Director of the Company for first term of 5 years w.e.f. Friday, 19th December, 2025.

  22 for0 against
• Appointment of Lt. Gen. Vinod Gulabrao Khandare (Retd.) (DIN: 11363013) as an Independent Director of the Company for first term of 5 years w.e.f. Thursday, 29th January, 2026.

  22 for0 against

• Fine or penaltyIndian CustomsSince 14 Jul 2026

  Penalty Amount of Rs. 5,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 21 Jul 2026

  Penalty Amount of Rs. 5,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 21 Jul 2026

  Penalty Amount of Rs. 75,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 21 Jul 2026

  Penalty Amount of Rs. 8,123 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 23 Jul 2026

  Penalty Amount of Rs. 5,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 10 Aug 2026

  Penalty Amount of Rs. 15,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 11 Aug 2026

  Penalty Amount of Rs. 5,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier
• Fine or penaltyIndian CustomsSince 11 Aug 2026

  Penalty Amount of Rs. 5,000 imposed due to late presentation of Document with Customs

  Penalty imposed due to late receipt of Shippping documents from Supplier

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

Yes

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.