GE Vernova T&D India CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 9 Sep 2026, 17 fund houses so far (houses' deadline to file 15 Oct 2026)

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

• Adoption of Audited Financial Statements for the financial year ended on March 31, 2026

  17 for0 against
• Declaration of final dividend of Rs. 10 (Rupees Ten only) per equity share of face value of Rs. 2 each for the financial year ended on 31st March, 2026.

  17 for0 against
• Appointment of Mr. Sushil Kumar (DIN: 08510312) as Director, liable to retire by rotation

  16 for0 against
• Re-appointment of M/s. Deloitte Haskins & Sells, Chartered Accountants, as the Statutory Auditors of the Company

  17 for0 against
• Ratification of remuneration of Cost Auditors for the financial year ending March 31, 2027

  13 for0 against
• Appointment of Mr. Marco Simiano as the Non-Executive and Non-Independent Director

  17 for0 against
• Re-appointment of Mr. Sushil Kumar (DIN: 08510312) as a Whole-time Director of the Company effective from January 01, 2027, till December 31, 2031

  16 for0 against
• Payment of remuneration to Non-Executive Directors for a period of five financial years commencing from April 1, 2026

  17 for0 against
• Approval for Material Related Party Transaction(s) with LM Wind Power Blades (India) Private Limited

  ›Against DSP Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund

  • DSP Mutual Fund, Jio BlackRock Mutual FundThe company seeks approval for cash pool arrangements with LM Wind Power Blades (India) Pvt Ltd, a fellow subsidiary - to lend up to Rs.10.0 bn (outstanding at any point of time) from the cash pool arrangement and one year term loans of upto Rs. 41.0 bn (outstanding at any point of time) to be granted in one or more tranches till the AGM of 2027. The lending rates are based on 1 year Government’s Bond rate, calculated daily and are benchmarked to prevailing bank and market rates. The prevailing rate of interest in lending to cash pool is about 6.7% per annum. The interest rate on the one-year term loan will be at least the higher of: the rate offered by LM Wind on cash pool investments (currently 6.7% p.a.), the average one-year fixed deposit rate of three major Indian banks (currently 6.83% p.a.), and the applicable Government Security yield (currently 5.66% p.a. for one-year Government securities). The company has clarified that the board has approved expansion capex of over Rs. 10.0 bn, excluding regular maintenance and replacement capex. The company expects this arrangement to provide better returns while retaining liquidity, with credit risk mitigated through a guarantee from GE Vernova Inc. However, while the lending will be secured by a guarantee from GE Vernova Inc., which is rated BBB by S&P and BBB+ by Fitch, at Rs. 51.0 bn the proposed limit is 82.17% of GE Vernova T&D's FY26 turnover, 200.1% of LM Wind's FY25 turnover and 5.4x LM Wind's net worth of Rs. 9.4 bn. The term loan component alone, at Rs. 41.0 bn, is ~1.5x the company's net worth of Rs. 26.9 bn and ~2.7x its cash and cash equivalents of Rs. 15.3 bn. We support the cash pool leg of the lending of Rs 10.0 bn, but not the Rs. 41.0 bn term loan; the resolution covers both and cannot be separated. The company must consider deploying surplus funds in the business or distributing them as dividends to shareholders. We do not support the resolution.
  • SBI Mutual FundThe company seeks approval for cash pool arrangements with LM Wind Power Blades (India) Pvt Ltd, a fellow subsidiary - to lend up to Rs.10.0 bn (outstanding at any point of time) from the cash pool arrangement and one year term loans of upto Rs. 41.0 bn (outstanding at any point of time) to be granted in one or more tranches till the AGM of 2027. The lending rates are based on 1 year Government’s Bond rate, calculated daily and are benchmarked to prevailing bank and market rates. The prevailing rate of interest in lending to cash pool is about 6.7% per annum. The interest rate on the one-year term loan will be at least the higher of: the rate offered by LM Wind on cash pool investments (currently 6.7% p.a.), the average one-year fixed deposit rate of three major Indian banks (currently 6.83% p.a.), and the applicable Government Security yield (currently 5.66% p.a. for one-year Government securities). While the lending will be secured by a guarantee from GE Vernova Inc., which is rated BBB by S&P and BBB+ by Fitch, at Rs. 51.0 bn the proposed limit is 82.17% of GE Vernova T&D's FY26 turnover, 200.1% of LM Wind's FY25 turnover and 5.4x LM Wind's net worth of Rs. 9.4 bn. The term loan component alone, at Rs. 41.0 bn, is ~1.5x the company's net worth of Rs. 26.9 bn and ~2.7x its cash and cash equivalents of Rs. 15.3 bn. We support the cash pool leg of the lending of Rs 10.0 bn, but not the Rs. 41.0 bn term loan; the resolution covers both and cannot be separated. The company must clarify why it is lending to a fellow subsidiary rather than deploying surplus funds in the business or distributing them as dividends to shareholders. We do not support the resolution.

  14 for3 against
• Approval for Material Related Party Transaction(s) with GE Vernova Inc.

  17 for0 against
• Increase in the Overall limits of the Company under section 186 of the Companies Act, 2013

  ›Against DSP Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual Fund

  • DSP Mutual Fund, Jio BlackRock Mutual Fund, SBI Mutual FundThe company’s current limit under Section 186 stands at Rs. 28.7 bn as on 31 March 2026. Through resolution #9 the company seeks approval to lend up to Rs. 10.0 bn (outstanding at any point of time) under a cash pool arrangement and up to Rs. 41.0 bn (outstanding at any point of time) by way of one-year term loans to LM Wind Power Blades (India) Private Limited, fellow subsidiary and the cash pool leader. We recognize that the company may hence need to increase the limits under Section 186 to Rs. 51.0 bn. Our view on this resolution is linked to our view on resolution #9. Further, the proposed limit of Rs 51.0 bn is high against net worth of Rs 26.9 bn (1.9x), and against cash and liquid investments of Rs 15.3 bn (3.3x). Further, the resolution is enabling in nature as it is not confined to the transactions under resolution #9 — it permits loans, guarantees and investments in favour of any person or body corporate. Hence, we do not support the resolution.

  2 for3 against

Mutual fund votes, meeting of 16 May 2026, 37 fund houses

• To approve Material Related Party Transaction(s) with GE Grid Solutions LLC

  37 for0 against

• Fine or penaltyAssistant Commissioner of Customs, Office of the Principal Commissioner of Customs (Air Cargo), New Custom House, Chennai-VII Commissionerate, Air Cargo Complex, Meenambakkam, Chennai-600016Since 16 Jun 2026

  Classification dispute: The demanded differential duty has been paid, and the challan has been filed with Customs. We are awaiting the closure order from Customs.

  Alleged reclassification of “3-558-R001 PRECISION GAUGE 0-10 BAR WITH HOSE FOR PRESSURE CONTROL OF GAS COMPARTMENTS (1003093)(ACTUAL USER)” from Tariff Item 90262000 of the First Schedule to the Customs Tariff Act, 1975 to Tariff Item 90328990.MoreLess
• Tax disputeOFFICE OF THE WEST BENGAL COMMERCIAI, TAXES APPELLATE AND REVISIONAL BOARDSince 31 Mar 2015
  The Company has filed revision application which was rejected by the department and currently the matter stands closed.
  At the filing before: Matter is related to VAT litigation for state of West Bengal for the Financial Year 2014-15. The Amount involved is Rs.146,880,856/-.

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

Yes

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.