India Shelter Finance Corporation CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 28 Jul 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, together with Board of Directors Report and Auditors Report for Financial Year ended 31 March, 2025.

  19 for0 against
• To re-appoint Mr. Sudhin Bhagwandas Choksey (DIN: 00036085), who retires by rotation and being eligible, has offered himself for re-appointment.

  19 for0 against
• To declare Final Dividend of Rs.5 per equity share of face value of `Rs. 5/- each for the Financial Year ended 31 March, 2025.

  19 for0 against
• To consider and approve re-appointment of Mr. Rupinder Singh (DIN: 09153382) as Managing Director & Chief Executive Officer (“MD & CEO”) of the Company and approve an increase in his remuneration for the Financial Year 2025-26 and thereofMoreLess

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund

  • Angel One Mutual FundNon-Disclosure of relevant information about the proposed Appointee; Information such as profile, age, directorships, etc. are missing from the Explanatory Statement.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern on the merits & remuneration of the Appointee. Non-Compliance under Companies Act & SS-2 Requirements: Non-Disclosure of SS-2 Table containing information about the proposed Appointee; Information such as profile, age, directorships, etc. are missing from the Explanatory Statement.
  • Nippon India Mutual FundNon-Compliance under Companies Act & SS-2 Requirements: Non-Disclosure of SS-2 Table containing information about the proposed Appointee; Information such as profile, age, directorships, etc. are missing from the Explanatory Statement.
  • quant Mutual FundRelated to the re-appointment of Mr Rupinder Singh as MD & CEO. No concern on the merit & remuneration of the appointee. Non-compliance under the Companies Act & SS-2 requirements: non-disclosure of SS-2 table containing information (Such as profile, age, directorships, etc.) about the proposed appointee.

  12 for7 against
• To consider and approve an increase in the borrowing powers in excess of Paid-Up Share Capital, Free Reserves and Security Premium Account of the Company under Section 180 (1) (c) of the Companies Act, 2013MoreLess

  19 for0 against
• To consider and approve the Employee Stock Option Plan 2025 (“ESOP 2025”)

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund

  • Angel One Mutual FundNon-Disclosure of Exercise Period; the Company has disclosed the particulars of Exercise Price under “Exercise Period".
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Period; the Company has disclosed the particulars of Exercise Price under “Exercise Period”.
  • Nippon India Mutual FundNon-Compliant with SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price / Pricing Formula; Broad Discretion to NRC to determine Exercise Price.
  • quant Mutual FundRelated to the Employee Stock Option Plan (ESOP) 2025. Non-compliant with SEBI (SBEB & SE) regulations: non-disclosure of Exercise Period; the company has disclosed the particulars of Exercise Price under “Exercise Period.”

  12 for7 against
• To consider and approve the appointment of Secretarial Auditor of the Company and fix their remuneration

  2 for0 against

Mutual fund votes, meeting of 19 Jun 2024, 13 fund houses

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

• To consider and approve Standalone and Consolidated Financial Statements together with Board of Directors Report and Auditors Report for year ended on 31 March, 2024

  12 for0 against
• To consider and approve for reappointment of Director retiring by rotation

  11 for0 against
• To consider and approve the appointment of S.R. Batliboi & Associates LLP, Chartered Accountants, (ICAI Firm Registration Number: 101049W/E300004) as Statutory Auditors

  12 for0 against
• To consider and approve an increase in Managerial Remuneration of MD & CEO of the Company for FY 2024-25

  12 for0 against
• To consider and approve amendment in Articles of Association of the company

  12 for0 against

Mutual fund votes, meeting of 19 Apr 2024, 14 fund houses

• To consider and if thought fit to pass the resolution as a special resolution to consider and approve continuation of Mr. Shailesh J Mehta (DIN: 01633893) as Non-executive Non-Independent Director

  14 for0 against

Mutual fund votes, meeting of 19 Mar 2024, 14 fund houses

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

• Amendment in Memorandum of Association of the company

  13 for0 against
• Approval for Ratification in the ESOP Schemes 2021 and 2023

  ›Against Axis Mutual Fund, Bandhan Mutual Fund, DSP Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund

  • Axis Mutual FundThe company seeks to ratify the pre-IPO ESOP 2021 and ESOP 2023 schemes post listing of the company on 20 December 2023. The exercise price of stock options is at the discretion of the Nomination and Remuneration Committee. The options will vest if the employee continues to be in the employment of the company and the NRC may specify certain performance criteria on basis of which options will vest. We do not favour ESOP schemes where options are granted at a discount of more than 20% to the market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Since options with time-based vesting can be granted at a significant discount to market price, we do not support the resolution
  • Bandhan Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Lack of clarity in the Scheme w.r.t Exercise Price or Pricing Formula.
  • DSP Mutual FundThe company seeks to ratify the pre-IPO ESOP 2021 and ESOP 2023 schemes post listing of the company on 20 December 2023. The exercise price of stock options is at the discretion of the Nomination and Remuneration Committee. The options will vest if the employee continues to be in the employment of the company and the NRC may specify certain performance criteria on basis of which options will vest. We do not favour ESOP schemes where options are granted at a discount of more than 20% to the market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Since options with time-based vesting can be granted at a significant discount to market price, we do not support the resolution.
  • Kotak Mahindra Mutual FundThe company has not provided an exercise price nor a formula for determining the exercise price, hence the company is non-compliant with SEBI LODR law. Given there is ambiguity in terms of the exercise price of the ESOP scheme, voting against.
  • Nippon India Mutual FundInadequate disclosure

  7 for6 against
• Commission to Independent Directors

  ›Against DSP Mutual Fund

  • DSP Mutual FundThe company proposes to pay a commission of up to Rs. 0.6 mn to each independent director from FY25. Such commission excludes sitting fees being paid to the independent directors for attending board and committee meetings. The proposed commission to independent directors is in-line with market practices and in line with statutory regulations. However, 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.

  12 for1 against