INDO-MIM MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 22 Sep 2026, 7 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.

• To receive, consider and adopt the audited Standalone and Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026, together with the Reports of Directors and Auditors thereon.MoreLess

  7 for0 against
• To consider appointment of a director in place of Mr. Raj Chivukula (DIN 02484081), Director who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundA vote AGAINST the following nominee is warranted because: Raj Chivukula has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation.

  6 for1 against
• To consider and ratify the remuneration payable to the cost auditor M/s. Jayaram & Associates, Practicing Cost Accountants with Firm Regn No. 101077 for FY27.

  7 for0 against
• Appointment of the Secretarial Auditors of the Company for a period of Five years from Fy 2026-27 till Fy 2030-31.

  6 for0 against
• Modification and Ratification of “INDO-MIM Employees Stock Option Plan, 2024 (“ESOP 2024”)”.

  ›Against Edelweiss Mutual Fund, HSBC Mutual Fund, PGIM India Mutual Fund, SBI Mutual Fund

  • Edelweiss Mutual Fund, PGIM India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise price and Maximum Vesting Period. Governance & Transparency concern: The Scheme provides discretion to the NRC to decide vesting periods, which may lead to exercise of excessive discretion by the Board or the Compensation Committee and does not enable shareholders to take an informed decision; Further the proposed limit of maximum options per employee indicates a potential for excessive benefits to a single employee under the ESOP Scheme; Lack of clarity as to the actual dilution since the number of outstanding options has not been disclosed.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because: The stock options may be issued with an exercise price at a discount to the market price on the grant date. The company has not mentioned the performance parameters, targets and thresholds for vesting
  • SBI Mutual FundThe options pool comprises 72.3 mn options, of which 11.0 mn options have already been granted. The options when exercised would result in a dilution of ~12.8% on the expanded capital base. The minimum vesting period is one year, while the specific vesting schedule and conditions will be set out in the grant letter issued to employees. The exercise price shall be the face value of shares or as may be decided by the Nomination and Remuneration Committee (NRC). As per the red herring prospectus, the options granted prior to the IPO were issued at an exercise price of Re. 1.0, equivalent to the face value of the shares. The maximum exercise period is 15 months from the date of vesting. We do not support the resolution.

  3 for4 against
• Ratification of the extension of the benefits under the “INDO-MIM Employees Stock Option Plan, 2024 (“ESOP 2024”) to the employees of Subsidiary, Associate or Holding companies of the Company.

  ›Against Edelweiss Mutual Fund, HSBC Mutual Fund, PGIM India Mutual Fund, SBI Mutual Fund

  • Edelweiss Mutual Fund, PGIM India Mutual FundProposed ESOP Plan is Non-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding the Exercise price and Maximum Vesting Period. Governance & Transparency concern: The Scheme provides discretion to the NRC to decide vesting periods, which may lead to exercise of excessive discretion by the Board or the Compensation Committee and does not enable shareholders to take an informed decision; Further the proposed limit of maximum options per employee indicates a potential for excessive benefits to a single employee under the ESOP Scheme; Lack of clarity as to the actual dilution since number of outstanding options has not been disclosed; Further, the resolution seeks to extend benefits under the ESOP Scheme to the employees of Holding company and Associates without adequate justification for extension of such benefits and no provision for reimbursement of cost to be incurred by the Company.
  • HSBC Mutual FundThe proposals include grant of units to employees of associate or holding company, without a compelling rationale.
  • SBI Mutual FundThe options pool comprises 72.3 mn options, of which 11.0 mn options have already been granted. The options when exercised would result in a dilution of ~12.8% on the expanded capital base. The minimum vesting period is one year, while the specific vesting schedule and conditions will be set out in the grant letter issued to employees. The exercise price shall be the face value of shares or as may be decided by the Nomination and Remuneration Committee (NRC). As per the red herring prospectus, the options granted prior to the IPO were issued at an exercise price of Re. 1.0, equivalent to the face value of the shares. The maximum exercise period is 15 months from the date of vesting. We do not support the resolution.

  3 for4 against