Garware Hi-Tech Films logo

Garware Hi-Tech Films MD, chairman, board of directors and AGM

NSE: GRWRHITECHBSE: 500655Industrial ProductsSmall Cap

Last close ₹7,034.00up ₹374.50 (5.62%)BSE ₹7,037.90

Share price at the NSE close on 23 Oct 2026. Previous close ₹6,659.50.

52-week range of traded prices to 23 Oct 2026
₹2,690.70Low, 21 Jan 2026₹7,990.00High, 6 Aug 2026
Market cap
₹16,342 Cr553rd largest listed
P/E
38.4
P/B
5.6
Dividend yield
0.17%
ROE
15.7%
ROCE
17.1%
Debt to equity
0.00
Volume, NSE
2,45,68921.2% delivered

Garware Hi-Tech Films board of directors

At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorSHASHIKANT BHALCHANDRA GARWARERelated to the promoter
  • Managing directorMONIKA GARWARE
  • Company Secretary and Compliance OfficerAwaneesh Srivastava

10 directors6 independent3 executive1 non-executive

  • SHASHIKANT BHALCHANDRA GARWARE · Chairperson and managing directorExecutive · joined Jun 1957 · reappointed Nov 2024 · 1 listed board
  • MONIKA GARWARE · Managing directorExecutive · joined Mar 1989 · reappointed Nov 2021 · 1 listed board
  • SONIA GARWARENon-executive · joined Jan 2007 · reappointed Sep 2023 · 1 listed board
  • VIVEKANAND HEROOR KAMATHIndependent · joined Aug 2018 · reappointed Aug 2023 · 97 months as independent · 1 listed board · 1 as independent · 2 committee seats
  • NAYAN JAGDISHCHANDRA RAWALIndependent · joined Apr 2024 · reappointed Apr 2024 · 30 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 1 as chair
  • DEEPAK NITYANAND CHAWLAIndependent · joined Apr 2024 · reappointed Apr 2024 · 30 months as independent · 1 listed board · 1 as independent
  • MANOJ KISHORCHANDRA SONAWALAIndependent · joined Apr 2024 · reappointed Apr 2024 · 30 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • CHIRAG HIMATLAL DOSHIIndependent · joined Sep 2024 · reappointed Sep 2024 · 25 months as independent · 4 listed boards · 2 as independent · 4 committee seats, 3 as chair
  • UDAY VASANTRAO JOSHIExecutive · joined Feb 2026 · 1 listed board · 1 committee seat
  • SONALI RAJESH MEHTAIndependent · joined Jun 2026 · reappointed Jun 2026 · 3 months as independent · 1 listed board · 1 as independent

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

4 directors who left
  • SARITA GARWARE RAMSAY, left 9 Jul 2026: Others
  • DEVANSHI HEMANT NANAVATI, left 24 Jun 2026: Tenure Completion
  • MOHAN SITARAM ADSUL, left 31 Jan 2026: Others
  • NILESH RAMANLAL DOSHI, left 31 Oct 2024: Tenure Completion

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 6 Aug 20268 of 10 present5 independent · 91 days in between
    • 6 May 202611 of 11 present6 independent

  • Audit Committee

    Chair CHIRAG HIMATLAL DOSHI

    VIVEKANAND HEROOR KAMATH, NAYAN JAGDISHCHANDRA RAWAL, MANOJ KISHORCHANDRA SONAWALA

    • 6 Aug 20264 of 4 present4 independent · 91 days in between
    • 6 May 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair DEEPAK NITYANAND CHAWLA

    MANOJ KISHORCHANDRA SONAWALA, NAYAN JAGDISHCHANDRA RAWAL

    • 6 Aug 20263 of 3 present3 independent · 91 days in between
    • 6 May 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair NAYAN JAGDISHCHANDRA RAWAL

    VIVEKANAND HEROOR KAMATH, UDAY VASANTRAO JOSHI

    • 11 Sep 20263 of 3 present2 independent · 29 days in between
    • 12 Aug 20263 of 3 present2 independent · 11 days in between
    • 31 Jul 20263 of 3 present2 independent · 16 days in between
    • 14 Jul 20263 of 3 present2 independent · 24 days in between
    1 earlier meeting
    • 19 Jun 20263 of 3 present2 independent

  • Risk Management Committee

    Chair CHIRAG HIMATLAL DOSHI

    NAYAN JAGDISHCHANDRA RAWAL, DEEPAK JOSHI, UDAY VASANTRAO JOSHI

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair MANOJ KISHORCHANDRA SONAWALA

    UDAY VASANTRAO JOSHI, SONALI RAJESH MEHTA

    No meeting listed in the filing.

  • Vigil Mechanism

    Chair CHIRAG HIMATLAL DOSHI

    VIVEKANAND HEROOR KAMATH, DEEPAK NITYANAND CHAWLA, UDAY VASANTRAO JOSHI

    No meeting listed in the filing.

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditors

Named in the results for the quarter to Jun 2026.

  • M/s V. Sankar Aiyar & CoPeer-review certificate valid to Apr 2028
  • M/s J H Mehta & CoPeer-review certificate valid to Jan 2028
4 earlier auditors
  • Kirtane and Pandit LLP Chartered AccountantsNamed in the filing for the quarter to Jun 2025
  • V Sankar Aiyar and Co Chartered AccountantsNamed in the filing for the quarter to Jun 2025
  • M/s Kirtane & Pandit LLP, Chartered AccountantsNamed in the filing for the quarter to Mar 2025
  • M/s V. Sankar Aiyar & Co, Chartered AccountantsNamed in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Garware Hi-Tech Films 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.Garware Hi-Tech Films dividend history

Annual general meeting, 23 Sep 2026

67,112 shareholders on the register on 16 Sep 2026; present: 12 promoters and 46 others; votes counted by Mr. Mannish L. Ghia / M/s. Manish Ghia & Associates.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2026, together with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 64.48% · promoters 92.12% · institutions 72.30% · other public 0.63%

  2. Declaration of final dividend on the equity shares for the financial year ended March 31, 2026.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 64.48% · promoters 92.12% · institutions 72.30% · other public 0.63%

  3. Re-appointment of Ms. Sonia Garware (DIN: 00135995), who retires by rotation and being eligible, offers herself for the re-appointment in terms of Section 152(6) of the Companies Act, 2013.
    OrdinaryPromoters have an interest in it
    99.73% for0.27% against

    Against: promoters 0.00% · institutions 0.27% · other public 0.01%

    Turnout: all 8.55% · promoters 0.00% · institutions 72.30% · other public 0.63%

  4. Ratification of the remuneration of Cost Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 64.48% · promoters 92.12% · institutions 72.30% · other public 0.63%

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.

Postal ballot, 23 Jun 2026, 2 resolutions

55,521 shareholders on the register on 19 May 2026; votes counted by Mr. Mannish L. Ghia / M/s. Manish Ghia & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935), as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.18%

    Turnout: all 69.35% · promoters 100.00% · institutions 78.57% · other public 3.26%

  2. Re-appointment of Ms. Monika Garware (DIN: 00143400), as a Vice-Chairperson and Joint Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    SpecialPromoters have an interest in it
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.02% · other public 0.17%

    Turnout: all 68.19% · promoters 98.10% · institutions 78.57% · other public 3.23%

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.

Postal ballot, 24 Mar 2026, 1 resolution

55,934 shareholders on the register on 17 Feb 2026; votes counted by Mannish L. Ghia / Manish Ghia & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Mr. Uday Vasantrao Joshi (DIN: 09753984), as Whole Time Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    Special
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 1.17% · other public 0.23%

    Turnout: all 69.92% · promoters 100.00% · institutions 87.31% · other public 3.42%

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, 24 Sep 2025, 7 resolutions

57,680 shareholders on the register on 17 Sep 2025; present: 12 promoters and 53 others; votes counted by Snehal Shah / Snehal Shah & Associates.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2025, together with the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 69.87% · promoters 100.00% · institutions 92.79% · other public 4.11%

  2. Declaration of final dividend on the equity shares for the financial year ended March 31, 2025
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 69.98% · promoters 100.00% · institutions 94.16% · other public 4.11%

  3. Re-appointment of Ms. Monika Garware (DIN: 00143400) as a Director, who retires by rotation and being eligible, offers herself for the re-appointment in terms of Section 152(6) of the Companies Act, 2013MoreLess
    OrdinaryPromoters have an interest in it
    99.63% for0.37% against

    Against: promoters 0.00% · institutions 3.21% · other public 0.00%

    Turnout: all 68.83% · promoters 98.10% · institutions 94.16% · other public 4.11%

  4. Appointment of M/s J. H. Mehta & Co., Chartered Accountants (Firm Registration No. 106227W) as Joint Statutory Auditors of the Company
    Ordinary
    98.33% for1.67% against

    Against: promoters 0.00% · institutions 14.57% · other public 0.03%

    Turnout: all 69.98% · promoters 100.00% · institutions 94.16% · other public 4.11%

  5. Ratification of the remuneration of Cost Auditors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 69.98% · promoters 100.00% · institutions 94.16% · other public 4.11%

  6. Appointment of M/s. Manish Ghia & Associates, Company Secretaries (Firm Registration No. P2006MH007100) as Secretarial Auditors of the Company
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 69.98% · promoters 100.00% · institutions 94.16% · other public 4.11%

  7. Adoption of new set of Memorandum of Association of the Company as per Companies Act, 2013
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 1.55% · other public 0.04%

    Turnout: all 69.94% · promoters 100.00% · institutions 93.67% · other public 4.10%

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.

Postal ballot, 23 Jun 2025, 2 resolutions

55,521 shareholders on the register on 19 May 2026; votes counted by Mr. Mannish L. Ghia / M/s. Manish Ghia & Associates.The company's voting result (opens in a new tab)

  1. Appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935), as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.01% · other public 0.18%

    Turnout: all 69.35% · promoters 100.00% · institutions 78.57% · other public 3.26%

  2. Re-appointment of Ms. Monika Garware (DIN: 00143400), as a Vice-Chairperson and Joint Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    SpecialPromoters have an interest in it
    100.00% for0.01% against

    Against: promoters 0.00% · institutions 0.02% · other public 0.17%

    Turnout: all 68.19% · promoters 98.10% · institutions 78.57% · other public 3.23%

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.

Postal ballot, 22 May 2025, 1 resolution

56,185 shareholders on the register on 17 Apr 2025; votes counted by Snehal Shah / Snehal Shah and Associates.The company's voting result (opens in a new tab)

  1. Re-appointment of Mrs. Sarita Garware Ramsay (DIN: 00136048), as Joint Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit.
    SpecialPromoters have an interest in it
    99.75% for0.25% against

    Against: promoters 0.00% · institutions 1.73% · other public 4.41%

    Turnout: all 67.68% · promoters 98.10% · institutions 86.33% · other public 3.44%

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, 24 Sep 2024, 7 resolutions

Present: 11 promoters and 66 others.The company's voting result (opens in a new tab)

  1. Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2024 with Directors and Auditors reports thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 67.21% · promoters 100.00% · institutions 82.53% · other public 5.47%

  2. Declaration of dividend on the equity shares for the financial year 2023-24
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 67.21% · promoters 100.00% · institutions 82.53% · other public 5.47%

  3. Re-appointment of Mrs. Sarita Garware Ramsay (DIN: 00136048), who retires by rotation and being eligible offers herself for the re-appointment
    OrdinaryPromoters have an interest in it
    99.86% for0.14% against

    Against: promoters 0.00% · institutions 2.06% · other public 0.05%

    Turnout: all 67.21% · promoters 100.00% · institutions 82.53% · other public 5.47%

  4. Appointment of M/s V. Sankar Aiyar & Co., Chartered Accountants (Firm Registration No. 109208W) as the Statutory Auditors of the Company
    Ordinary
    99.54% for0.46% against

    Against: promoters 0.00% · institutions 6.61% · other public 0.03%

    Turnout: all 67.21% · promoters 100.00% · institutions 82.53% · other public 5.47%

  5. Ratification of the remuneration of Cost Auditors.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 67.10% · promoters 100.00% · institutions 80.69% · other public 5.47%

  6. Appointment of Mr. Chirag Doshi (DIN: 08532321) as an Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.48%

    Turnout: all 67.10% · promoters 100.00% · institutions 80.69% · other public 5.47%

  7. Re-appointment of Shri S. B. Garware (DIN: 00943822), as Chairman and Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    SpecialPromoters have an interest in it
    98.51% for1.49% against

    Against: promoters 0.00% · institutions 19.43% · other public 6.33%

    Turnout: all 67.11% · promoters 100.00% · institutions 80.69% · other public 5.47%

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.

Postal ballot, 7 May 2024, 3 resolutions

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

  1. Appointment of Mr. Manoj Sonawala (DIN:00235168) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.17%

    Turnout: all 64.39% · promoters 100.00% · institutions 41.32% · other public 5.15%

  2. Appointment of Mr. Deepak Chawla (DIN: 10497108) as an Independent Director of the Company
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.24%

    Turnout: all 64.39% · promoters 100.00% · institutions 41.32% · other public 5.15%

  3. Appointment of Dr. Nayan Rawal (DIN: 00184945) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.17%

    Turnout: all 64.39% · promoters 100.00% · institutions 41.32% · other public 5.15%

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.

How mutual funds voted

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

Mutual fund votes, meeting of 23 Sep 2026, 5 fund houses so far (houses' deadline to file 15 Oct 2026)

  • Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2026, together with the reports of the Board of Directors and Auditors thereon.
    5 for0 against
  • Declaration of final dividend on the equity shares for the financial year ended March 31, 2026.
    5 for0 against
  • Re-appointment of Ms. Sonia Garware (DIN: 00135995), who retires by rotation and being eligible, offers herself for the re-appointment in terms of Section 152(6) of the Companies Act, 2013.
    5 for0 against
  • Ratification of the remuneration of Cost Auditors.
    5 for0 against

Mutual fund votes, meeting of 23 Jun 2026, 11 fund houses

  • Appointment of Ms. Sonali Rajesh Mehta (DIN: 11485935), as an Independent Director of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund
    • Angel One Mutual FundGovernance Concern: No justification provided by the Company for appointment of proposed appointee as an Independent Director for a period of only one year.
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. No concern on the merit of the proposed appointee. Governance Concern: No justification provided by the Company for appointment of proposed appointee as an Independent Director for a period of only one year.
    8 for3 against
  • Re-appointment of Ms. Monika Garware (DIN: 00143400), as a Vice-Chairperson and Joint Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund
    • Angel One Mutual FundGovernance Concern: Remuneration practice of the Company appears skewed in favor of promoter directors without any justification; Board Discretion to alter and vary terms of reappointment and remuneration without shareholders’ approval.
    • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. No concern identified w.r.t. the merit of the proposed director. Governance Concern: Remuneration practice of the Company appears skewed in favor of promoter directors without any justification; Board Discretion to alter and vary terms of reappointment and remuneration without shareholders’ approval.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    7 for4 against
5 earlier meetings

Mutual fund votes, meeting of 24 Mar 2026, 10 fund houses

  • Appointment of Mr. Uday Vasantrao Joshi (DIN: 09753984), as Whole Time Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    10 for0 against

Mutual fund votes, meeting of 24 Sep 2025, 9 fund houses

  • Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2025, together with the reports of the Board of Directors and Auditors thereon.
    9 for0 against
  • Declaration of final dividend on the equity shares for the financial year ended March 31, 2025
    9 for0 against
  • Re-appointment of Ms. Monika Garware (DIN: 00143400) as a Director, who retires by rotation and being eligible, offers herself for the re-appointment in terms of Section 152(6) of the Companies Act, 2013MoreLess
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundSkewed remuneration in favour of Promoter EDs.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of director. Governance concern: Skewed remuneration in favour of Promoter EDs.
    6 for3 against
  • Appointment of M/s J. H. Mehta & Co., Chartered Accountants (Firm Registration No. 106227W) as Joint Statutory Auditors of the Company
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundProposed term of appointment of Auditors is 3 years instead of 5 years.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant under Section 139 of Companies Act 2013: Proposed term of appointment of Auditors is 3 years instead of 5 years.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    4 for5 against
  • Ratification of the remuneration of Cost Auditors
    9 for0 against
  • Appointment of M/s. Manish Ghia & Associates, Company Secretaries (Firm Registration No. P2006MH007100) as Secretarial Auditors of the Company
    9 for0 against
  • Adoption of new set of Memorandum of Association of the Company as per Companies Act, 2013
    9 for0 against

Mutual fund votes, meeting of 22 May 2025, 8 fund houses

  • Re-appointment of Mrs. Sarita Garware Ramsay (DIN: 00136048), as Joint Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit.
    Against Angel One Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance concern: Skewed remuneration practice; Disparity in remuneration practice between promoter and non-promoter Executive Director.
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Skewed remuneration practice; Disparity in remuneration practice between promoter and non-promoter ED.
    5 for3 against

Mutual fund votes, meeting of 24 Sep 2024, 5 fund houses

  • Adoption of Audited Standalone and Consolidated Financial Statements for the year ended 31st March, 2024 with Directors and Auditors reports thereon.
    5 for0 against
  • Declaration of dividend on the equity shares for the financial year 2023-24
    5 for0 against
  • Re-appointment of Mrs. Sarita Garware Ramsay (DIN: 00136048), who retires by rotation and being eligible offers herself for the re-appointment
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Skewed remuneration towards Promoter Directors
    3 for2 against
  • Appointment of M/s V. Sankar Aiyar & Co., Chartered Accountants (Firm Registration No. 109208W) as the Statutory Auditors of the Company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Lack of clarity regarding segregation of audit fees.
    2 for3 against
  • Ratification of the remuneration of Cost Auditors.
    5 for0 against
  • Appointment of Mr. Chirag Doshi (DIN: 08532321) as an Independent Director of the Company.
    5 for0 against
  • Re-appointment of Shri S. B. Garware (DIN: 00943822), as Chairman and Managing Director of the Company and minimum remuneration to be paid in case of inadequacy of profit
    Against Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. No concern on merit of Director. Governance concern: Skewed remuneration towards promoters; combined CMD position; not attended past 3 years’ AGM.
    3 for2 against

Mutual fund votes, meeting of 7 May 2024, 3 fund houses

  • Appointment of Mr. Manoj Sonawala (DIN:00235168) as an Independent Director of the Company
    3 for0 against
  • Appointment of Mr. Deepak Chawla (DIN: 10497108) as an Independent Director of the Company
    3 for0 against
  • Appointment of Dr. Nayan Rawal (DIN: 00184945) as an Independent Director of the Company
    3 for0 against

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

Tax disputes

Reported in the filing for the quarter to Sep 2026.

  • Tax disputeIncome Tax DepartmentSince 30 Mar 2026
    The said demand has not been uploaded on the portal by the Income Tax Department ; However, the Company has filed rectification application on April 01, 2026 in response to their email dated March 30, 2026 but no response has been received from the Income Tax Department.MoreLess
    At the filing before: Income Tax Department has issued notice of demand under section 156 of the Income Tax Act, pursuant to computation made under section 154 of the Income Tax Act pertaining to Assessment Year 2020-21 and raised the Demand of Rs. 18.37 crores. The Company has reason to believe that it has strong merit to oppose this order by way of filing the rectification application. While passing the order prior notice was not given, also the opportunity of being heard (Principle of Natural Justice) was not given. Moreover, the credit of Minimum Alternate tax of Rs. 15.12 crore was not taken into account while making the computation. Even the addition made of Rs. 1.41 crore is erroneous. Thus, the total demand raised of Rs. 18.37 crore is not correct.MoreLess

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

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 3 complaints open, quarter to Sep 2026.
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
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.