Inventurus Knowledge Solutions MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 29 May 2026, 20 fund houses

• Approval under Regulations 24(5) and 24(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Pledge / Disposal of shares of Material Subsidiaries and Disposal of assets of Material Subsidiaries.MoreLess

  20 for0 against
• Approval for providing Guarantees and Security in connection with facilities to be availed by Inventurus Knowledge Solutions, Inc., a Wholly Owned Subsidiary of the Company.

  20 for0 against

Mutual fund votes, meeting of 23 Sep 2025, 19 fund houses

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

• To consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2025 together with the Report of the Board of Directors and Auditors’ thereon.MoreLess

  19 for0 against
• To appoint a Director in place of Mr. Utpal Sheth (DIN - 00081012) who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Low attendance at Board meetings and no justification for leave of absence.
  • Axis Mutual Fund, Jio BlackRock Mutual FundUtpal Sheth, 54, is the Founder, Chairperson and Chief Mentor of TrustPlutus group. He was the Senior Partner and CEO of RARE Enterprises, a private equity investment firm owned by the Jhunjhunwala family, the promoters of the company. He has been on the board of Inventurus Knowledge Solutions since December 2014. He has attended 36% (five out of 14) board meetings held in FY25 and 52% (15 out of 29) board meetings in the previous three years. We expect directors to attend all board meetings: we have a threshold of 75% attendance of the board meetings in the three-years prior to re-appointment. Hence, we do not support the resolution.
  • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No issue on merit of proposed appointee. Governance Concern: Low attendance at Board meetings and no justification for leave of absence.
  • ICICI Prudential Mutual FundLow board meeting attendance in previous years (36% in FY25; 52% in last 3 years). Hence the AMC has voted against the resolution.
  • Kotak Mahindra Mutual FundMr. Seth has attended 5 meetings out of 14 board meetings. It is a serious concern with the time commitment of the appointee. We do not favour the resolution.
  • Mirae Asset Mutual Fundhave a threshold of 75% attendance of the board meetings in the three-years prior to re-appointment. Hence, we do not support the resolution.

  5 for14 against
• To appoint a Director in place of Mr. Joseph Benardello (DIN - 01672013), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Aditya Birla Sun Life Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Jio BlackRock Mutual FundJoseph Benardello, 58, is the Co-founder and Chief Growth Officer of IKS Health. He holds 2.55% of the share capital as of 30 June 2025 and has served on the board since November 2007. He has attended 64% (nine out of 14) board meetings held in FY25 and 55% (16 out of 29) board meetings held in the previous three years. We expect directors to attend all board meetings: we have a threshold of 75% attendance of the board meetings in the three-years prior to re-appointment. Hence, we do not support the resolution.
  • Mirae Asset Mutual Fundhave a threshold of 75% attendance of the board meetings in the three-years prior to re-appointment. Hence, we do not support the resolution.
  • Nippon India Mutual FundProfile of the candidate

  15 for4 against
• Appointment of Dr. Garheng Albert Kong (DIN - 11218828) as an Independent Director of the Company.

  19 for0 against
• Appointment of Mr. Sachin Gupta (DIN - 02239277) as a Director (Non-Executive, Non-Independent) of the Company.

  19 for0 against
• Office or place of profit of Mr. Sachin Gupta – Non-Executive Director of the Company.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance and Transparency Concern: Proposed remuneration appears disproportionate when compared to past remuneration and salaries of other employees in similar grade/ position. Since basis of arriving at remuneration not disclosed, fairness of proposed remuneration cannot be ascertained; No clarity on whether prior shareholders’ approval is being sought or not.
  • Axis Mutual FundSachin Gupta, 49, is founder promoter, Inventurus Knowledge Solutions Ltd. He is the Global CEO of Inventurus Knowledge Solutions Inc. (IKS Inc.), a wholly owned subsidiary. He was reappointed as Whole-time Director of Inventurus for five years from 10 November 2022 and resigned from this position on 31 July 2025. Currently he is Non-Executive Non-Independent Director on the board. The company proposes to pay Sachin Gupta remuneration of upto USD 4.0 mn (approximately Rs. 350.0 mn) per annum in an office of profit position as Global CEO of IKS Inc. In FY25, he received remuneration of Rs. 109.6 mn: Rs. 96.8 mn from IKS Inc and Rs. 12.8 mn from the company. The company must clarify the reason for such a high cap on remuneration and must disclose the peer group used by the Nomination and Remuneration Committee for benchmarking his remuneration. Further, the resolution does not provide a tenure for his appointment, effectively seeking approval in perpetuity. We do not support perpetual resolutions and expect companies to seek shareholders’ approval on a periodic basis. Hence, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance and Transparency Concern: Proposed remuneration appears disproportionate when compared to past remuneration and salaries of other employees in similar grade/ position. Since basis of arriving at remuneration not disclosed, fairness of proposed remuneration cannot be ascertained; No clarity on whether prior shareholders’ approval is being sought or not.
  • Baroda BNP Paribas Mutual FundIncrease in remuneration is higher.
  • ICICI Prudential Mutual FundProposed remuneration cap is high compared to peers and previous years. Resolution does not provide a tenure for his appointment, effectively seeking approval in perpetuity. Hence the AMC has voted against the resolution.
  • Jio BlackRock Mutual FundSachin Gupta, 49, is founder promoter, Inventurus Knowledge Solutions Ltd. He is the Global CEO of Inventurus Knowledge Solutions Inc. (IKS Inc.), a wholly owned subsidiary. He was reappointed as Whole-time Director of Inventurus for five years from 10 November 2022 and resigned from this position on 31 July 2025. Currently he is Non-Executive Non-Independent Director on the board of this listed company. The company proposes to pay Sachin Gupta remuneration of upto USD 4.0 mn (approximately Rs. 350.0 mn: USD 1.50 mn fixed and USD 2.50 mn variable on achievements of certain company targets) per annum in an office of profit position as Global CEO of IKS Inc. In FY25, he received remuneration of Rs. 109.6 mn: Rs. 96.8 mn from IKS Inc and Rs. 12.8 mn from the company. The company must clarify the reason for such a high cap on remuneration and must disclose the peer group used by the Nomination and Remuneration Committee for benchmarking his remuneration. Further, the resolution does not provide a tenure for his appointment, effectively seeking approval in perpetuity. We do not support perpetual resolutions and expect companies to seek shareholders’ approval on a periodic basis. Hence, we do not support the resolution.
  • Mirae Asset Mutual FundProposed renumeration is very high as percentage of profits. Hence, we oppose the resolution
  • Nippon India Mutual FundGovernance and Transparency Concern: Proposed remuneration appears disproportionate when compared to past remuneration and salaries of other employees in similar grade/ position.

  6 for13 against
• Appointment of Ms. Nithya Balasubramanian (DIN - 10664861) as the Whole-Time Director of the Company.

  ›Against Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund

  • Jio BlackRock Mutual FundMs. Nithya Balasubramanian, 41, is the Chief Financial Officer and responsible for global financial operations, administration and facilities, ERP, investor relations, and overall business strategy. She has previously held leadership roles at McKinsey & Company, Cipla Limited, and Alliance Bernstein Business Services Private Limited. The company proposes to appoint her as Whole-time Director, not liable to retire by rotation, for a five-year term commencing 1 August 2025.In FY25 she received a remuneration of Rs. 160.3 mn including fair value of stock options granted in FY25. She is eligible to receive an annual remuneration (including performance-linked variable pay) of upto Rs. 45.0 mn. In addition, she is eligible to receive benefits, perquisites, allowances, and stock options for which there is no guidance provided, nor is there an absolute cap. Therefore, we are unable to estimate the overall remuneration. The company must cap overall remuneration in absolute amounts and quantify/disclose the stock options that she is eligible to receive, including the performance metrics which determine such variable pay. Due to lack of adequate disclosures, we are unable to ascertain the proposed remuneration. While we support her appointment, we do not support the proposed remuneration terms. Hence, we do not support the resolution.
  • Mirae Asset Mutual FundDue to lack of adequate disclosures, we are unable to ascertain the proposed remuneration. While we support her appointment, we do not support the proposed remuneration terms. Hence, we do not support the resolution.
  • Nippon India Mutual FundProfile of the candidate

  16 for3 against
• Appointment of Secretarial Auditors.

  19 for0 against
• Commission to Non-Executive Directors of the Company

  ›Against Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual FundThe Board of Directors and the company had earlier approved payment of commission to Non-Executive Directors, not exceeding 1% of net profits, on 10 November 2022 and 27 January 2023, respectively. The company now seeks shareholder approval for payment of commission to Non-Executive Directors (excluding Sachin Gupta, Joseph Benardello, Utpal Sheth, and Amit Goela) of up to Rs. 60.0 mn per annum, even in years of no profits or inadequate profits, which may exceed 1% of net profits. In FY25, the aggregate commission paid was Rs. 12.4 mn. The company must clarify the reason for seeking approval for a high cap of Rs. 60.0 mn. Given that the company has not defined a tenure for payment of commission, the resolution is effectively valid in perpetuity. We do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments. Thus, we do not support the resolution.
  • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Excessive increase in commission without any justification.
  • Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Excessive increase in commission without any justification.
  • Mirae Asset Mutual FundGiven that the company has not defined a tenure for payment of commission, the resolution is effectively valid in perpetuity. We do not support resolutions in perpetuity: shareholders must get a chance to periodically review such payments. Thus, we do not support the resolution.

  6 for12 against
• Amendment to the “Employee Stock Option Plan 2022” of the Company

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundExercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee; No cap on maximum number of options that can be granted per employee or maximum benefit per employee.
  • Axis Mutual FundThe company proposes to increase the ESOP Pool under the ESOP 2022 scheme to 27,000,000 from 24,000,000 options to ensure continued rewards to eligible employees and to attract, retain and motivate available talent in the company. ESOP 2022 will be implemented through the trust route which involves secondary acquisitions of equity shares and also new issue of equity shares. The secondary acquisition shall not exceed 5% of the paid-up equity capital. While the previous grants (during FY25) under ESOP 2022 were made at market price, the scheme allows the exercise price to be determined by the NRC/ board. However, as stated in the notice, majority of the options will be granted at the market price, while certain performance-based options may be granted at a discounted price to such market price. We do not favour ESOP schemes where options are granted at a significant discount to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. If options are issued at a deep discount to the market price and carry performance-based vesting, we expect companies to disclose specific corporate-level targets, along with an indicative range of weightages for each of the parameters and disclose the basis of vesting of these deeply discounted options in the subsequent annual reports. In this case, the company has not disclosed the above details. We believe this scheme does not align with the interests of the shareholders. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern/ issue in proposed amendment per se. Concern is on account of Non-compliance with SEBI (SBEB & SE) Regulations, 2021: Exercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee; No cap on maximum number of options that can be granted per employee or maximum benefit per employee.
  • HDFC Mutual FundWe do not favor ESOP granted at a significant discount to market price. We believe this scheme does not align with the interests of the shareholders. We do not support the resolution.
  • Jio BlackRock Mutual FundThe company proposes to increase the ESOP Pool under the ESOP 2022 scheme to 27,000,000 from 24,000,000 options to ensure continued rewards to eligible employees and to attract, retain and motivate available talent in the company.ESOP 2022 will be implemented through the trust route which involves secondary acquisitions of equity shares and also new issue of equity shares. The secondary acquisition shall not exceed 5% of the paid-up equity capital. While the previous grants (during FY25) under ESOP 2022 were made at market price, the scheme allows the exercise price to be determined by the NRC/ board. However, as stated in the notice, majority of the options will be granted at the market price, while certain performance-based options may be granted at a discounted price to such market price. We do not favour ESOP schemes where options are granted at a significant discount to market price since stock options are ‘pay at risk’ options that employees accept at the time of grant. If options are issued at a deep discount to the market price and carry performance-based vesting, we expect companies to disclose specific corporate-level targets, along with an indicative range of weightages for each of the parameters and disclose the basis of vesting of these deeply discounted options in the subsequent annual reports. In this case, the company has not disclosed the above details. We believe this scheme does not align with the interests of the shareholders. We do not support the resolution.
  • Mirae Asset Mutual FundWe do not favour ESOP schemes where options are granted at a significant discount to market price. We do not support the resolution.
  • Nippon India Mutual FundNon-compliance with SEBI (SBEB & SE) Regulations, 2021: Exercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee;

  7 for12 against
• Extension of benefits of the Employee Stock Option Plan 2022 to the Employees of it’s Group Companies, Subsidiaries or Associate Companies.

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundExercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee; No cap on maximum number of options that can be granted per employee or maximum benefit per employee; Benefit proposed to be extended to Group companies including Associate Company(ies) without adequate justification & no provision for reimbursement of cost to be incurred by the Company.
  • Axis Mutual Fund, Jio BlackRock Mutual FundThe company seeks to extend the benefit of ESOP 2022 to employees of group companies including subsidiary and associate companies. Our view is linked to resolution #10. Further, we do not support the extension of ESOP schemes to employees of group companies other than unlisted subsidiaries. Hence, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on extending ESOP scheme to subsidiary employees. ESOP Plan is Non-compliant with SEBI (SBEB & SE) Regulations, 2021: Exercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee; No cap on maximum number of options that can be granted per employee or maximum benefit per employee; Benefit proposed to be extended to Group companies including Associate Company(ies) without adequate justification & no provision for reimbursement of cost to be incurred by the Company.
  • HDFC Mutual FundWe do not favour ESOP granted at a significant discount to market price. We do not support the resolution.
  • Mirae Asset Mutual FundOur view is linked to resolution #10. Hence, we do not support the resolution.
  • Nippon India Mutual FundESOP Plan is Non-compliant with SEBI (SBEB & SE) Regulations, 2021: Exercise price and Exercise Period inadequately disclosed; Governance Concern: Excessive benefit may be extended to an individual employee;

  7 for12 against

Mutual fund votes, meeting of 11 Mar 2025, 11 fund houses

• Ratification of “Employee Stock Option Plan 2022” of the Company.

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund

  • Baroda BNP Paribas Mutual FundExercise price, vesting period not provided. Non-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula ; Absolute Discretion to NRC to determine Exercise Price. Non-Disclosure of Exercise Period & Vesting Period as per SEBI Regulations; NRC discretion to determine maximum period of Vesting. Governance Concern: Significant benefit arising to a single employee; No cap on maximum number of options that can be granted per employee.
  • Edelweiss Mutual Fund, Motilal Oswal Mutual FundNon-Compliant under SEBI SBEB Regulations: Non-Disclosure of Exercise Price / Pricing Formula ; Absolute Discretion to NRC to determine Exercise Price. Non-Disclosure of Exercise Period & Vesting Period as per SEBI Regulations; NRC discretion to determine maximum period of Vesting. Governance Concern: Significant benefit arising to a single employee; No cap on maximum number of options that can be granted per employee.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPS which could be at a significant discount to market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.

  7 for4 against
• Ratification of extension of benefits under “Employee Stock Option Plan 2022” of the Company to the employees of group companies including subsidiaries or associate companies of the Company.

  ›Against Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund

  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual FundInter-linked with Resolution #1, Governance Concern: Benefit extended to Associate Companies without justification or cost reimbursement provision.
  • HDFC Mutual FundLack of clarity on the pricing of ESOPS which could be at a significant discount to market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.

  7 for4 against
• Appointment of Ms. Theresa Anne Stone (DIN: 10831186) as an Independent Director.

  11 for0 against
• Appointment of Dr. Mary Klotman (DIN: 09768040) as a Non-Executive, Non-Independent Director.

  ›Against Edelweiss Mutual Fund, Motilal Oswal Mutual Fund

  • Edelweiss Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. No concern on the merits of the Appointee. Governance Concern: No cooling off period of 1 year served after completion of term as ID; Appointment as NED will raise questions over her independence in the previous term as ID. Nonmaterial pecuniary relationship with the Company. No rationale for the Change in the Directorship Position from ID to NED.

  9 for2 against
• Variation in terms of appointment and remuneration of Mr. Sachin Gupta (DIN: 02239277), Whole-Time Director.

  ›Against HDFC Mutual Fund

  • HDFC Mutual FundMr. Sachin Gupta, 48, is founder promoter and Whole-time Director of Inventurus Knowledge Solutions Ltd. and the CEO of Inventurus Knowledge Solutions Inc. (IKS Inc.), a wholly owned subsidiary. The company seeks shareholder approval for variation in his appointment terms. Since he drew a substantial portion of his overall pay from the subsidiary for which no clarity has been given, we are unable to determine his overall pay. In absence of full disclosure of his remuneration from the group, we are unable to support the resolution.

  10 for1 against