Ingersoll Rand (India) MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 13 Aug 2025, 12 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 Balance Sheet as March 31, 2025 and Statement of Profit and Loss for the financial year ended on March 31, 2025 together with the reports of the Board of Directors and the Auditors thereon.MoreLess

  12 for0 against
• To declare final dividend of Rs. 25 per equity share of face value of Rs. 10 each for the financial year ended on March 31, 2025.

  12 for0 against
• To appoint a Director in place of Mr. Sunil Khanduja (DIN: 10041581), who retires by rotation and being eligible, offers himself for reappointment

  12 for0 against
• To approve material Related Party Transactions with Ingersoll-Rand Industrial US Inc.

  12 for0 against
• To appoint Mr. Natesh K, Practicing Company Secretary as Secretarial Auditor of the Company

  12 for0 against
• To ratify the remuneration to Cost Auditors of the Company for Financial Year 2025 - 26

  1 for0 against

Mutual fund votes, meeting of 4 Feb 2025, 11 fund houses

• Appointment of Mr. Gareth Robert Topping (DIN: 10823043) as a Director of the Company

  11 for0 against
• Appointment of Mr. Sunil Khanduja (DIN: 10041581) as Managing Director and fixing his remuneration

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. No governance concern identified with regard to appointment. Governance Concern: Past remuneration payments made on revised terms without specific approval of shareholders. Proposed remuneration terms also provides the Board with the discretionary powers to revise the remuneration terms.
  • Invesco Mutual FundSunil Khanduja, 46, is the Managing Director of the company since 12 November 2024. He was appointed on the board as Director - Operations from 8 November 2023. He has been with the company since 2018 and with the Ingersoll Rand group since 2013. It is not clear from the notice if he is liable to retire by rotation. Nevertheless, we draw comfort given the recent SEBI LODR amendments which have built in sufficient guardrails and will need the company to seek periodic reappointment for his nomination after a five-year interval. He will be paid a fixed remuneration of Rs. 15.4 mn and is entitled for a maximum bonus of Rs. 8.1 mn - the company must disclose performance metrics that determine his bonus payout. Although we support his appointment as MD, we do not support his remuneration due to lack of clarity on stock options/RSUs from the holding company. According to the annual report, remuneration to executives include stock options/RSUs from the holding company. Given the lack of clarity or guidance on stock options, we are unable to reliably estimate the quantum of remuneration payable to him. Hence, we do not support the resolution. We do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  5 for6 against

Mutual fund votes, meeting of 13 Aug 2024, 11 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 Balance Sheet as March 31, 2024 and Statement of Profit and Loss for the financial year ended on March 31, 2024 together with the reports of the Board of Directors and the Auditors thereon.MoreLess

  11 for0 against
• To declare dividend of Rs. 20 per equity share of Rs. 10 each for the financial year ended on March 31, 2024.

  11 for0 against
• To appoint a Director in place of Mr. P. R. Shubhakar (DIN: 06688703), who retires by rotation and being eligible, offers himself for reappointment.

  11 for0 against
• To approve payment of remuneration to directors other than whole time directors and managing directors of the Company

  10 for0 against
• To ratify the remuneration to the Cost Auditors of the Company for Financial Year 2024 - 25

  1 for0 against

Mutual fund votes, meeting of 21 Jan 2024, 10 fund houses

• 1) Appoint Sunil Khanduja (DIN 10041581) as Director from 8 November 2023, liable to retire by rotation.

  1 for0 against
• 2) Appoint Sunil Khanduja (DIN 10041581) as Whole-time Director designated as Director (Operations) for five years from 8 November 2023 and fix his remuneration.

  1 for0 against
• 3) Appoint Rajesh Ganjoo (DIN 10373687) as Director from 8 November 2023, liable to retire by rotation.

  1 for0 against
• 4) Appoint Rajesh Ganjoo (DIN 10373687) as Whole-time Director designated as Executive Director for five years from 8 November 2023 and fix his remuneration.

  1 for0 against
• Appointment of Mr. Rajesh Ganjoo (DIN No. 10373687) as a Whole-time Director of the Company, designated as Executive Director (with such other designation(s) as the Board may deem fit to confer upon him from time to time), for a period of five years with effect from November 8, 2023 and Including remuneration.MoreLess

  9 for0 against
• Appointment of Mr. Rajesh Ganjoo (DIN No. 10373687) as Director of the Company, liable to retire by rotation.

  9 for0 against
• Appointment of Mr. Sunil Khanduja (DIN No. 10041581) as a Whole-time Director of the Company, designated as Director Operations (with such other designation(s) as the Board may deem fit to confer upon him from time to time), for a period of five years with effect from November 8, 2023 and Including remuneration.MoreLess

  9 for0 against
• Appointment of Mr. Sunil Khanduja (DIN No. 10041581) as Director of the Company, liable to retire by rotation. liable to retire by rotation.

  9 for0 against

Mutual fund votes, meeting of 11 Aug 2023, 11 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 Balance Sheet as at March 31, 2023 and Statement of Profit and Loss for the financial year ended on March 31, 2023 together with the reports of the Board of Directors and the Auditors thereon.MoreLess

  11 for0 against
• To declare dividend of Rs. 20 per equity share of Rs. 10 each for the financial year ended on March 31, 2023.

  11 for0 against
• To appoint a Director in place of Mr. Naveen Samant (DIN: 05127077), who retires by rotation and, being eligible, offers himself for reappointment.

  11 for0 against
• To re-appoint Ms. Jayantika Dave (DIN: 01585850) as an Independent Director of the Company.

  ›Against Bank of India Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Mahindra Manulife Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Bank of India Mutual Fund, Mahindra Manulife Mutual Fund, SBI Mutual FundJayantika Dave, 68, is former Vice President of human resources at Ingersoll Rand India. She has been on the board since September 2014. Post her resignation on 27 March 2019, the company appointed her as Independent Director in the AGM of 2019. We believe that to be truly Independent, she should have had a cooling off period i.e., complete detachment from the board for at least three years. Since Ms. Jayantika Dave did not complete the necessary cooling off period, we do not support her reappointment as Independent Director and count her entire tenure on the board of Ingersoll Rand (India). She has attended 89% (8/9) of the board meetings in FY23.
  • HDFC Mutual FundAs she was on the board as a Non Executive Non Independent Director, we do not consider her independent
  • Invesco Mutual FundJayantika Dave, 68, is former Vice President of human resources at Ingersoll Rand India. She has been on the board since September 2014. Post her resignation on 27 March 2019, the company appointed her as Independent Director in the AGM of 2019. We believe that to be truly Independent, she should have had a cooling off period i.e., complete detachment from the board for at least three years. Since Ms. Jayantika Dave did not complete the necessary cooling off period, we do not support her reappointment as Independent Director and count her entire tenure on the board of Ingersoll Rand (India). She has attended 89% (8/9) of the board meetings in FY23
  • Motilal Oswal Mutual FundRe-appointment compliant with Law. Governance Concern: Prolonged association. She is an ex-employee who held Executive Position and former Non-Executive Non-Independent Director without a cooling off period.
  • Nippon India Mutual FundAssociation may adversely impact independence

  4 for7 against
• To re-appoint Ms. Vijaya Sampath (DIN: 00641110) as an Independent Director of the Company.

  11 for0 against
• To ratify the remuneration to the Cost Auditors of the Company for Financial Year 2023 - 24

  3 for0 against

Mutual fund votes, meeting of 23 May 2023, 9 fund houses

• 1) Appoint Inder Arora (DIN 10041497) as Director from 7 March 2023, liable to retire by rotation.

  1 for0 against
• 2) Appoint Inder Arora as Whole-time Director designated as Executive Director for five years from 7 March 2023 and fix his remuneration.

  1 for0 against
• 3) Appoint P.R. Shubhakar (DIN 06688703) as Director from 7 March 2023, liable to retire by rotation.

  1 for0 against
• 4) Appoint P.R. Shubhakar as Whole-time Director designated as Chief Financial Officer for three years from 7 March 2023 and fix his remuneration.

  1 for0 against
• Appoint Inder Arora as Whole-time Director designated as Executive Director for five years from 7 March 2023 and fix his remuneration

  1 for0 against
• Appoint Inder Arora (DIN 10041497) as Director from 7 March 2023, liable to retire by rotation

  1 for0 against
• Appoint P.R. Shubhakar as Whole-time Director designated as Chief Financial Officer for three years from 7 March 2023 and fix his remuneration

  1 for0 against
• Appoint P.R. Shubhakar (DIN 06688703) as Director from 7 March 2023, liable to retire by rotation

  1 for0 against
• Appointment of Mr. Inder Arora (DIN No. 10041497) as a Director of the Company, liable to retire by rotation.

  6 for0 against
• Appointment of Mr. Inder Arora (DIN No. 10041497) as a Whole-time Director of the Company, designated as Executive Director for a period of five years with effect from March 7, 2023 and including remuneration.MoreLess

  6 for0 against
• Appointment of Mr. P. R. Shubhakar (DIN No. 06688703) as a Director of the Company, liable to retire by rotation.

  6 for0 against
• Appointment of Mr. P. R. Shubhakar (DIN No. 06688703) as a Whole-time Director of the Company, designated as Chief Financial Officer for a period of three years with effect from March 7, 2023 and including remuneration.MoreLess

  6 for0 against
• To appoint Mr. Inder Arora (DIN No. 10041497) as a Director of the Company, liable to retire by rotation

  1 for0 against
• To appoint Mr. Inder Arora (DIN No. 10041497) as a Whole-time Director of the Company, designated as Executive Director (with such other designation(s) as the Board may deem fit to confer upon him from time to time), for a period of five years with effect from March 7, 2023 & to fix the remunerationMoreLess

  1 for0 against
• To appoint Mr. P. R. Shubhakar (DIN No. 06688703) as a Director of the Company, liable to retire by rotation

  1 for0 against
• To appoint Mr. P. R. Shubhakar (DIN No. 06688703) as a Whole-time Director of the Company, designated as Chief Financial Officer (with such other designation(s) as the Board may deem fit to confer upon him from time to time), for a period of three years with effect from March 7, 2023 & to fix the remunerationMoreLess

  1 for0 against