IDFC First Bank CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 20 Dec 2025, 32 fund houses

• Appointment of Mr. Narendra Ostawal (DIN: 06530414) as a Non-Executive Non-Independent Director [Nominee of Currant Sea Investments B.V., Investor (“Investor Nominee”)] on the Board of Directors of the Bank.MoreLess

  31 for0 against

  1 abstained

Mutual fund votes, meeting of 29 Jul 2025, 31 fund houses

• To receive, consider and adopt the Audited Standalone Financial Statements of the Bank for the Financial Year ended March 31, 2025, together with the Report of the Board of Directors and the Auditors thereonMoreLess

  30 for0 against

  1 abstained

• To receive, consider and adopt the Audited Consolidated Financial Statements of the Bank for the Financial Year ended March 31, 2025, together with the Report of the Auditors thereon.

  30 for0 against

  1 abstained

• To re-appoint Mr. Pradeep Natarajan (DIN: 10499651) as a Director, who retires by rotation and being eligible, offers himself for re-appointment.

  30 for0 against

  1 abstained

• To declare Dividend on equity shares of the Bank, for the Financial Year ended March 31, 2025.

  30 for0 against

  1 abstained

• To appoint M/s. Walker Chandiok & Co LLP, Chartered Accountants, as one of the Joint Statutory Auditors of the Bank, for a period of 3 (three) years and fix remuneration of Joint Statutory Auditors of the Bank.MoreLess

  ›Against Angel One Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: The period of shareholder approval exceeds the period of RBI approval.
  • Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on merit, competence, eligibility of proposed Auditors. Governance Concern: The period of shareholder approval exceeds the period of RBI approval. Although the Bank cannot be held at fault however, concern is being raised due to inconsistency in legal provisions.
  • LIC Mutual FundConcern over the period of shareholder approval exceeds the period of RBI approval. Although the Bank cannot be held at fault however, concern is being raised due to inconsistency in legal provisions.
  • PPFAS Mutual FundPeriod of shareholder approval exceeds the period of RBI approval. Concern arising due to inconsistency in legal provisions

  22 for8 against

  1 abstained

• To provide a right to Currant Sea Investments B.V. to nominate 1 (one) Non-Executive Director liable to retire by rotation

  30 for0 against

  1 abstained

• To appoint M/s. Makarand M Joshi & Co., Company Secretaries (“MMJC”), as Secretarial Auditor of the Bank, for a term of five (5) years.

  30 for0 against

  1 abstained

Mutual fund votes, meeting of 17 May 2025, 31 fund houses

• Re-classification of Authorised Share Capital of the Bank and consequent amendment in the Capital clause of the Memorandum of Association of the Bank

  30 for0 against

  1 abstained

• Issuance, offer and allotment of Compulsorily Convertible Cumulative Preference Shares of face value of ₹ 10/- each on Preferential basis.

  30 for0 against

  1 abstained

• Amendment to the Articles of Association of the Bank and approval of shareholders of the Bank to provide a right to Currant Sea Investments B.V. (or any of its Assignees) to nominate 1 non-retiring non-executive director.MoreLess

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PGIM India Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Unifi Mutual Fund, UTI Mutual Fund, WhiteOak Capital Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Nomination Rights undermine the role of Nomination & Remuneration Committee; Provisions to appoint Alternate Directors; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
  • Axis Mutual FundIDFC FIRST Bank proposes to alter its AoA to give Currant Sea Investments B.V or any of its assignees the right to appoint one non-retiring non-executive director and to and to nominate its nominee director to such committees of the board as may be mutually agreed. We do not support board nomination rights without an embedded minimum shareholding threshold of atleast 10%. We do not support committee nomination rights – since the determination of committee composition is the board’s prerogative and must be decided by the board independently.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Zerodha Mutual FundComplaint with law. Governance Concern: Nomination Rights undermine the role of NRC; Provisions to appoint Alternate Directors; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
  • Bank of India Mutual Fund, Invesco Mutual Fund, Unifi Mutual FundIDFC FIRST Bank proposes to alter its AoA to give Currant Sea Investments B.V or any of its assignees the right to appoint one non-retiring non-executive director and to and to nominate its nominee director to such committees of the board as may be mutually agreed. There is no minimum shareholding threshold; even at below 10% shareholding Currant Sea Investments B.V have a right to a board seat. We do not support board nomination rights without an embedded minimum shareholding threshold of atleast 10%. We also do not support committee nomination rights – since the determination of committee composition is the board’s prerogative and must be decided by the board independently. We do not support the resolution.
  • HDFC Mutual FundIDFC FIRST Bank proposes to alter its AoA to give Currant Sea Investments B.V or any of its assignees the right to appoint one non-retiring non-executive director and to and to nominate its nominee director to such committees of the board as may be mutually agreed. There is no minimum shareholding threshold for the same. We do not support board nomination rights without an embedded minimum shareholding threshold. We do not support the resolution.
  • ICICI Prudential Mutual FundAmendment of Articles of Association to appoint Nominee Director Currant Sea Investments B. V. to board committees compromises the Board’s functioning with respect to appointment of directors to its different committees.Hence, the AMC has voted against the resolution.
  • Kotak Mahindra Mutual FundIDFC FIRST Bank proposes to alter its AoA to give Currant Sea Investments B.V or any of its assignees the right to appoint one non-retiring non-executive director and to and to nominate its nominee director to such committees of the board as may be mutually agreed. There is no minimum shareholding threshold; even at below 10% shareholding Currant Sea Investments B.V have a right to a board seat. We do not support board nomination rights without an embedded minimum shareholding threshold of at least 10%. We do not support the resolution.
  • LIC Mutual FundDue to concerns over Nomination Rights underminining the role of NRC
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance Concern: Nomination Rights undermine the role of NRC
  • PPFAS Mutual FundNRC role undermined; Committee positions linked to special rights; Provision to appoint Alternate Director
  • quant Mutual FundRelated to the amendment to AoA and approval to permit Currant Sea Investments B.V. (Or any of its Assignees) to nominate 1 non-retiring non-executive director. Compliant with the law. Governance concern: Nomination rights undermine the role of NRC; provisions to appoint alternate directors. Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
  • UTI Mutual FundWe do not support board nomination rights without an embedded minimum shareholding threshold of atleast 10%. We also do not support committee nomination rights – since the determination of committee composition is the board’s prerogative and must be decided by the board independently. We do not support the resolution.
  • WhiteOak Capital Mutual FundIDFC FIRST Bank proposes to alter its AoA to give Currant Sea Investments B.V or any of its assignees the right to appoint one non-retiring non-executive director and to nominate its nominee director to such committees of the board as may be mutually agreed. We believe the determination of committee composition is the board’s prerogative and must be decided by the board independently. We do not support the resolution.

  8 for22 against

  1 abstained

Mutual fund votes, meeting of 19 Mar 2025, 22 fund houses

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

• Alteration in the Authorized Share Capital and consequent amendment to the Capital Clause of the Memorandum of Association

  21 for0 against

  1 abstained

• Material related party transactions for dealing in securities (Treasury bills, Government Securities, and State Development Loans) with the related party

  ›Against Edelweiss Mutual Fund

  • Edelweiss Mutual FundThe Bank did not obtain prior approval for RPT. Technically Non-Compliant with SEBI LODR.

  17 for1 against

  1 abstained

Mutual fund votes, meeting of 17 Dec 2024, 20 fund houses

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

• To re-appoint Mr. V. Vaidyanathan (DIN: 00082596) as Managing Director and Chief Executive Officer of the Bank

  19 for0 against
• Appointment of Mrs. Pankajam Sridevi (DIN: 06783360) as an Independent Director of the Bank.

  19 for0 against
• Appointment of Mr. Uday Bhansali (DIN: 00363902) as an Independent Director of the Bank

  19 for0 against
• Appointment of Mr. Sudhir Kapadia (DIN: 05307843) as an Independent Director of the Bank.

  19 for0 against

Mutual fund votes, meeting of 30 Aug 2024, 20 fund houses

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

• To receive, consider and adopt the Audited Standalone Financial Statements of the Bank for the Financial Year ended March 31, 2024, together with the Report of the Board of Directors and the Auditors thereon.MoreLess

  18 for0 against

  1 abstained

• To receive, consider and adopt the Audited Consolidated Financial Statements of the Bank for the Financial Year ended March 31, 2024, together with the Report of the Auditors thereon.

  18 for0 against

  1 abstained

• To re-appoint Dr. Jaimini Bhagwati (DIN: 07274047) as a Director, who retires by rotation and being eligible, offers himself for re-appointment for the remaining tenure.

  18 for0 against

  1 abstained

• To appoint M/s. M.P. Chitale & Co., Chartered Accountants, as one of the Joint Statutory Auditors of the Bank, for a period of three (3) years and fix remuneration of Joint Statutory Auditors of the Bank.MoreLess

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundNo concern on merit, competence, eligibility of appointees. Governance Concern: The period of shareholder approval exceeds the period of RBI approval. Concern arising due to inconsistency in legal provisions although the Bank cannot be faulted.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  13 for5 against

  1 abstained

• To approve the payment of remuneration to Mr. Sanjeeb Chaudhuri as Part-Time Non-Executive Chairperson (Independent) of the Bank.

  18 for0 against

  1 abstained

• To approve the appointment of Mr. Pradeep Natarajan as a Director of the Bank.

  18 for0 against

  1 abstained

• To approve the appointment and remuneration of Mr. Pradeep Natarajan as the Whole Time Director, designated as an Executive Director of the Bank.

  18 for0 against

  1 abstained

• To approve revision in ceiling of Fixed Remuneration to the Non-Executive Directors of the Bank.

  17 for0 against

  1 abstained

• To offer and issue Debt Securities on a Private Placement basis.

  18 for0 against

  1 abstained