Indian Oil Corporation MD, chairman, board of directors and AGM
NSE: IOCBSE: 530965Petroleum ProductsLarge Cap
Last close ₹129.09down ₹1.89 (1.44%)BSE ₹129.00
Share price at the NSE close on 23 Oct 2026. Previous close ₹130.98.
52-week range of traded prices to 23 Oct 2026
₹124.92Low, 14 Oct 2026₹188.96High, 27 Feb 2026
- Next results date: the board meets on 30 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹1,82,291 Cr41st largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 31 Jul 2026
- 5.4
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 28 May 2026
- 0.8
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 6.39%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 31 Jul 2026
- 16.6%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 31 Jul 2026
- 13.8%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 28 May 2026
- 0.58
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 71,42,37744.3% delivered
Indian Oil Corporation board of directors
At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonArvinder Singh Sahney
- Company Secretary and Compliance OfficerKamal Kumar Gwalani
8 directors6 executive2 non-executive
- Arvinder Singh Sahney · ChairpersonExecutive · joined Nov 2024 · 3 listed boards
- Anuj JainExecutive · joined Oct 2023 · 1 listed board
- Rashmi GovilExecutive · joined Mar 2024 · 1 listed board
- Arvind KumarExecutive · joined Jul 2024 · 1 listed board
- Suman KumarExecutive · joined Feb 2025 · 1 listed board
- Saumitra Priya SrivastavaExecutive · joined Oct 2025 · 1 listed board
- Sujata SharmaNominee, non-executive · joined May 2024 · 1 listed board
- A. AmarnathNominee, non-executive · joined Jun 2026 · 1 listed board
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
11 directors who left
- Esha Srivastava, left 19 Apr 2026: Others
- Alok Sharma, left 31 Mar 2026: Tenure Completion
- Dattatreya Rao Sirpurker, left 27 Mar 2026: Tenure Completion
- Prasenjit Biswas, left 27 Mar 2026: Tenure Completion
- Krishnan Sadagopan, left 27 Mar 2026: Tenure Completion
- Satish Kumar Vaduguri, left 31 Jul 2025: Tenure Completion
- Nachimuthu Senthil Kumar, left 30 Jun 2025: Tenure Completion
- Ram Naresh Singh, left 7 Apr 2025: Tenure Completion
- DILIP GOGOI LALUNG, left 23 Nov 2024: Tenure Completion
- ASHUTOSH PANT, left 23 Nov 2024: Tenure Completion
- SUDIPTA KUMAR RAY, left 23 Nov 2024: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 30 Jun 20268 of 8 present0 independent · 42 days in between
- 18 May 20267 of 7 present0 independent · 51 days in between
- 27 Mar 202611 of 12 present3 independent · 20 days in between
- 6 Mar 202611 of 12 present3 independent · 28 days in between
1 earlier meeting
- 5 Feb 202611 of 12 present3 independent
Audit Committee
- 26 Mar 20263 of 3 present3 independent · 49 days in between
- 4 Feb 20263 of 3 present3 independent
Corporate Social Responsibility Committee
- 11 Mar 20264 of 5 present2 independent · 33 days in between
- 5 Feb 20265 of 5 present2 independent
Nomination and remuneration committee
- 13 Mar 20264 of 4 present3 independent · 61 days in between
- 10 Jan 20264 of 4 present3 independent
Risk Management Committee
- 27 Mar 20265 of 5 present1 independent · 13 days in between
Stakeholders Relationship Committee
- 5 Feb 20264 of 4 present2 independent
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditors
Named in the results for the quarter to Mar 2026.
- M/s Khandelwal Jain & CoPeer-review certificate valid to Aug 2028
- M/s K G Somani & Co LLPPeer-review certificate valid to Jun 2028
- M/s M K P S & Associates LLPPeer-review certificate valid to Dec 2028
- M/s Komandoor & Co LLPPeer-review certificate valid to Sep 2027
4 earlier auditors
- Khandelwal Jain & CoNamed in the filing for the quarter to Mar 2025
- K G Somani & Co LLPNamed in the filing for the quarter to Mar 2025
- M K P S & Associates LLPNamed in the filing for the quarter to Mar 2025
- Komandoor & Co LLPNamed in the filing for the quarter to Mar 2025
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Indian Oil Corporation AGM and shareholder votes
Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.Indian Oil Corporation dividend history
Annual general meeting, 31 Aug 2026
29,29,529 shareholders on the register on 24 Aug 2026; present: 1 promoter and 241 others; votes counted by Umesh S. Pawaskar / Umesh Pawaskar & Co..The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2026 together with Reports of the Directors and the Auditors thereon.MoreLess
Ordinary99.24% for0.76% againstAgainst: promoters 0.00% · institutions 3.95% · other public 0.00%
Turnout: all 87.67% · promoters 100.00% · institutions 89.91% · other public 64.99%
- To declare a Final Dividend of Rs. 1.25 per equity share for the year 2025-26.Ordinary99.54% for0.46% against
Against: promoters 0.00% · institutions 2.42% · other public 0.00%
Turnout: all 87.72% · promoters 100.00% · institutions 90.18% · other public 64.99%
- To appoint a Director in place of Ms. Rashmi Govil (DIN - 10531397) who retires by rotation and is eligible for reappointment.Ordinary91.97% for8.03% against
Against: promoters 0.00% · institutions 41.89% · other public 0.02%
Turnout: all 87.70% · promoters 100.00% · institutions 90.06% · other public 64.99%
- To appoint a Director in place of Shri Arvind Kumar (DIN - 09224177) who retires by rotation and is eligible for reappointment.Ordinary91.97% for8.03% against
Against: promoters 0.00% · institutions 41.89% · other public 0.02%
Turnout: all 87.70% · promoters 100.00% · institutions 90.06% · other public 64.99%
- To appoint Shri Saumitra P. Srivastava (DIN - 10236956) as Whole-time Director and to designate him as Director (Marketing) of the Company.Ordinary93.62% for6.38% against
Against: promoters 0.00% · institutions 33.24% · other public 0.01%
Turnout: all 87.72% · promoters 100.00% · institutions 90.18% · other public 64.99%
- To appoint Shri A. Amarnath (DIN - 11690405) as Government Nominee Director of the Company.Ordinary92.08% for7.92% against
Against: promoters 0.00% · institutions 41.30% · other public 0.02%
Turnout: all 87.70% · promoters 100.00% · institutions 90.06% · other public 64.99%
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil.OrdinaryPromoters have an interest in it98.08% for1.92% against
Against: promoters 0.00% · institutions 2.50% · other public 0.04%
Turnout: all 22.01% · promoters 0.00% · institutions 90.15% · other public 17.38%
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2027.Ordinary99.54% for0.46% against
Against: promoters 0.00% · institutions 2.42% · other public 0.00%
Turnout: all 87.72% · promoters 100.00% · institutions 90.18% · other public 64.99%
- Amendment in the Memorandum of Association (MoA) and Articles of Association (AoA) of the Company.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 87.72% · promoters 100.00% · institutions 90.18% · other public 64.99%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 30 Aug 2025, 23 resolutions
31,15,993 shareholders on the register on 23 Aug 2025; present: 1 promoter and 226 others; votes counted by Umesh S. Pawaskar / Umesh Pawaskar & Co..The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2025 together with Reports of the Directors and the Auditors thereon.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.12% · other public 0.00%
Turnout: all 87.09% · promoters 100.00% · institutions 89.90% · other public 63.63%
- To declare a Dividend of 3 per equity share for the year 2024-25.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.03% · other public 0.00%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
- To appoint a Director in place of Shri Anuj Jain (DIN - 10310088) who retires by rotation and is eligible for reappointment.Ordinary94.55% for5.45% against
Against: promoters 0.00% · institutions 29.24% · other public 0.02%
Turnout: all 87.12% · promoters 100.00% · institutions 90.02% · other public 63.63%
- To appoint a Director in place of Dr. Alok Sharma (DIN - 10453982) who retires by rotation and is eligible for reappointment.Ordinary94.55% for5.45% against
Against: promoters 0.00% · institutions 29.24% · other public 0.02%
Turnout: all 87.12% · promoters 100.00% · institutions 90.02% · other public 63.63%
- To appoint Shri Arvinder Singh Sahney (DIN 10652030) as Whole-time Director and to designate him as Chairman of the Company.Ordinary98.53% for1.47% against
Against: promoters 0.00% · institutions 7.91% · other public 0.01%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
- To appoint Shri Suman Kumar (DIN - 09724749) as Director (Planning And Business Development) of the Company.Ordinary95.92% for4.08% against
Against: promoters 0.00% · institutions 21.97% · other public 0.01%
Turnout: all 87.04% · promoters 100.00% · institutions 89.62% · other public 63.63%
- To reappoint Shri Prasenjit Biswas (DIN - 09398565) as an Independent Director of the Company.Special98.01% for1.99% against
Against: promoters 0.00% · institutions 10.69% · other public 0.02%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
- To reappoint Shri Krishnan Sadagopan (DIN - 09397902) as an Independent Director of the Company.Special99.41% for0.59% against
Against: promoters 0.00% · institutions 3.15% · other public 0.02%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
- To reappoint Dr. Dattatreya Rao Sirpurker (DIN -09400251) as an Independent Director of the Company.Special94.74% for5.26% against
Against: promoters 0.00% · institutions 28.20% · other public 0.02%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
- To Appoint Ms. Esha Srivastava (DIN 08504560) as Government Nominee Director of the Company.Ordinary92.65% for7.35% against
Against: promoters 0.00% · institutions 39.55% · other public 0.01%
Turnout: all 87.07% · promoters 100.00% · institutions 89.79% · other public 63.63%
- To appoint Dholakia And Associates LLP Practicing Company Secretaries, Mumbai as Secretarial Auditor of the CompanyOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.28% · other public 0.01%
Turnout: all 87.11% · promoters 100.00% · institutions 89.98% · other public 63.63%
- Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with IHB Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- Approval for material Related Party Transactions with Lubrizol India Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
Approval for material Related Party Transactions of IOC Global Capital Management IFSC Ltd. (IGCMIL), a Wholly Owned Subsidiary of IndianOil, with Related parties of IndianOil for the financial year 2025-26.MoreLess
OrdinaryPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
Approval for material Related Party Transactions of IOC Global Capital Management IFSC Ltd. (IGCMIL), a Wholly Owned Subsidiary of IndianOil, with Related Parties of IndianOil for the financial year 2026-27.MoreLess
OrdinaryPromoters have an interest in it100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.41% · promoters 0.00% · institutions 90.03% · other public 17.04%
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2026.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 87.11% · promoters 100.00% · institutions 90.01% · other public 63.63%
- To issue Corporate Guarantee upto Rs.481 crore for banking facilities on behalf of Indofast Swap Energy Private Limited, a Joint Venture Company of IndianOil.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 87.12% · promoters 100.00% · institutions 90.03% · other public 63.63%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 9 Aug 2024, 17 resolutions
Present: 2 promoters and 28,31,292 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2024 together with Reports of the Directors and the Auditors thereonMoreLess
Ordinary99.96% for0.04% againstAgainst: promoters 0.00% · institutions 0.21% · other public 0.00%
Turnout: all 87.26% · promoters 100.00% · institutions 90.39% · other public 63.86%
- To declare the Final Dividend of Rs. 7/- per equity share for the year 2023-2024Ordinary99.97% for0.03% against
Against: promoters 0.00% · institutions 0.18% · other public 0.00%
Turnout: all 87.32% · promoters 100.00% · institutions 90.69% · other public 63.86%
- To appoint a Director in place of Shri Sujoy Choudhury (DIN - 09503285) who retires by rotation and is eligible for reappointment.Ordinary93.58% for6.42% against
Against: promoters 0.00% · institutions 34.20% · other public 0.01%
Turnout: all 87.32% · promoters 100.00% · institutions 90.68% · other public 63.86%
- Appointment of Shri Anuj Jain (DIN-10310088) as Director (Finance) of the Company.Ordinary95.45% for4.55% against
Against: promoters 0.00% · institutions 24.21% · other public 0.01%
Turnout: all 87.32% · promoters 100.00% · institutions 90.68% · other public 63.86%
- Appointment of Shri Alok Sharma (DIN-10453982) as Director (Research & Development) of the Company.Ordinary95.45% for4.55% against
Against: promoters 0.00% · institutions 24.21% · other public 0.01%
Turnout: all 87.32% · promoters 100.00% · institutions 90.68% · other public 63.86%
- Appointment of Ms. Rashmi Govil (DIN-10531397) as Director (Human Resources) of the Company.Ordinary95.41% for4.59% against
Against: promoters 0.00% · institutions 24.42% · other public 0.02%
Turnout: all 87.32% · promoters 100.00% · institutions 90.68% · other public 63.85%
- Appointment of Shri Arvind Kumar (DIN-09224177) as Director (Refineries) of the Company.Ordinary95.45% for4.55% against
Against: promoters 0.00% · institutions 24.21% · other public 0.01%
Turnout: all 87.32% · promoters 100.00% · institutions 90.68% · other public 63.85%
- Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it100.00% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.59% · promoters 0.00% · institutions 90.58% · other public 17.18%
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Limited, a Joint Venture Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.59% · promoters 0.00% · institutions 90.58% · other public 17.18%
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.nOrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 21.59% · promoters 0.00% · institutions 90.58% · other public 17.18%
- Approval for material Related Party Transactions with IHB Limited, a Joint Venture Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 90.68% · other public 17.18%
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it75.68% for24.32% against
Against: promoters 0.00% · institutions 32.06% · other public 0.06%
Turnout: all 21.61% · promoters 0.00% · institutions 90.68% · other public 17.18%
- Approval for material Related Party Transactions with IndianOil NTPC Green Energy Private Limited, a Joint Venture Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.61% · promoters 0.00% · institutions 90.68% · other public 17.18%
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 21.59% · promoters 0.00% · institutions 90.58% · other public 17.18%
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.nOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.59% · promoters 0.00% · institutions 90.58% · other public 17.18%
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V., Joint Venture of IndOil Global BV, Netherlands (WOS of IndianOil) for the year 2025-26.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.59% · promoters 0.00% · institutions 90.57% · other public 17.18%
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2025.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 87.31% · promoters 100.00% · institutions 90.65% · other public 63.85%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Aug 2023, 17 resolutions
Present: 1 promoter and 300 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2023 together with Reports of the Directors and the Auditors thereon.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.10% · other public 0.00%
Turnout: all 87.25% · promoters 100.00% · institutions 86.26% · other public 65.68%
- To declare the Final Dividend of Rs. 3/- per equity share for the year 2022-2023.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 87.31% · promoters 100.00% · institutions 86.61% · other public 65.68%
- To appoint a Director in place of Shri Satish Kumar Vaduguri (DIN - 09322002) who retires by rotation and is eligible for reappointment.Ordinary98.39% for1.61% against
Against: promoters 0.00% · institutions 8.54% · other public 0.01%
Turnout: all 87.31% · promoters 100.00% · institutions 86.59% · other public 65.68%
- To increase the Authorized Share Capital of the Company and amend the Capital clause in the Memorandum of Association & Articles of Association of the Company.Special99.51% for0.49% against
Against: promoters 0.00% · institutions 2.59% · other public 0.01%
Turnout: all 87.31% · promoters 100.00% · institutions 86.59% · other public 65.68%
- Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Limited, a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with IHB Limited, a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with Indian Synthetic Rubber Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it75.98% for24.02% against
Against: promoters 0.00% · institutions 31.67% · other public 0.05%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with IndianOil NTPC Green Energy Private Limited, a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V., Joint Venture of IndOil Global BV, Netherlands (WOS of IndianOil) for the year 2024-25.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 21.61% · promoters 0.00% · institutions 86.59% · other public 17.66%
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2024.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 87.31% · promoters 100.00% · institutions 86.59% · other public 65.68%
- To appoint Shri Nachimuthu Senthil Kumar (DIN – 10230965) as Director (Pipelines) of the Company.Ordinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.11% · other public 0.01%
Turnout: all 82.04% · promoters 100.00% · institutions 58.71% · other public 65.68%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 25 Aug 2022, 13 resolutions
Present: 0 promoters and 523 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the Audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2022 together with Reports of the Directors and the Auditors thereon.MoreLess
Ordinary99.98% for0.02% againstAgainst: promoters 0.00% · institutions 0.11% · other public 0.00%
Turnout: all 87.79% · promoters 100.00% · institutions 87.57% · other public 66.45%
- To declare the Final Dividend of Rs. 2.40 per equity share for the year 2021-2022.Ordinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 87.87% · promoters 100.00% · institutions 87.99% · other public 66.45%
- To appoint a Director in place of Shri Sandeep Kumar Gupta (DIN - 07570165) who retires by rotation and is eligible for reappointment.Ordinary94.47% for5.53% against
Against: promoters 0.00% · institutions 28.70% · other public 0.03%
Turnout: all 87.87% · promoters 100.00% · institutions 87.98% · other public 66.45%
- To appoint a Director in place of Dr. S.S.V. Ramakumar (DIN - 07626484), who retires by rotation and is eligible for reappointment.Ordinary93.63% for6.37% against
Against: promoters 0.00% · institutions 33.06% · other public 0.03%
Turnout: all 87.87% · promoters 100.00% · institutions 87.98% · other public 66.45%
- Approval for material Related Party Transactions with Lanka IOC PLC., a subsidiary company of IndianOil, for the year 2022-23 & 2023-24.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.44%
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Limited, a Joint Venture Company of IndianOil, for the year 2022-23 & 2023-24.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V. Joint Venture Company of IndOil Global B.V., a WOS of IndianOil for the year 2023-24.OrdinaryPromoters have an interest in it99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.nOrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.OrdinaryPromoters have an interest in it85.52% for14.48% against
Against: promoters 0.00% · institutions 31.13% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.OrdinaryPromoters have an interest in it100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.44%
- Approval for material Related Party Transactions with Indian Synthetic Rubber Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.OrdinaryPromoters have an interest in it85.52% for14.48% against
Against: promoters 0.00% · institutions 31.13% · other public 0.01%
Turnout: all 36.37% · promoters 0.00% · institutions 87.99% · other public 66.45%
- To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2023.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.03% · other public 0.02%
Turnout: all 87.87% · promoters 100.00% · institutions 87.99% · other public 66.44%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 22 Jun 2022, 2 resolutions
The company's voting result (opens in a new tab)
- Appointment of Dr. (Prof.) Ram Naresh Singh (DIN - 07571840) as an Independent Director of the CompanySpecial95.25% for4.75% against
Against: promoters 0.00% · institutions 23.36% · other public 0.02%
Turnout: all 89.05% · promoters 100.00% · institutions 89.50% · other public 68.80%
- To capitalize the Reserves of the Company and to issue Bonus SharesOrdinary98.88% for1.12% against
Against: promoters 0.00% · institutions 5.50% · other public 0.01%
Turnout: all 89.11% · promoters 100.00% · institutions 89.77% · other public 68.81%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Postal ballot, 20 Apr 2022, 15 resolutions
The company's voting result (opens in a new tab)
- Appointment of Shri Satish Kumar Vaduguri (DIN - 09322002) as Director (Marketing) of the CompanyOrdinary93.39% for6.61% against
Against: promoters 0.00% · institutions 32.14% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Shri Dilip Gogoi Lalung (DIN - 09398549) as an Independent Director of the CompanySpecial99.95% for0.05% against
Against: promoters 0.00% · institutions 0.24% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Dr. Ashutosh Pant (DIN - 03057160) as an Independent Director of the CompanySpecial99.75% for0.25% against
Against: promoters 0.00% · institutions 1.21% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Dr. Dattatreya Rao Sirpurker (DIN - 09400251) as an Independent Director of the CompanySpecial99.45% for0.55% against
Against: promoters 0.00% · institutions 2.68% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Shri Prasenjit Biswas (DIN - 09398565) as an Independent Director of the CompanySpecial99.75% for0.25% against
Against: promoters 0.00% · institutions 1.18% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Shri Sudipta Kumar Ray (DIN - 02534632) as an Independent Director of the CompanySpecial99.71% for0.29% against
Against: promoters 0.00% · institutions 1.38% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Shri Krishnan Sadagopan (DIN - 09397902) as an Independent Director of the CompanySpecial99.98% for0.02% against
Against: promoters 0.00% · institutions 0.07% · other public 0.02%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Shri Dayanand Sadashiv Nanaware (DIN - 07354849) as Director (Pipelines) of the CompanyOrdinary94.29% for5.71% against
Against: promoters 0.00% · institutions 27.76% · other public 0.01%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Appointment of Ms. Sukla Mistry (DIN - 09309378) as Director (Refineries) of the CompanyOrdinary94.33% for5.67% against
Against: promoters 0.00% · institutions 27.58% · other public 0.01%
Turnout: all 89.27% · promoters 100.00% · institutions 90.17% · other public 69.00%
- Appointment of Shri Sujoy Choudhury (DIN - 09503285) as Director (Planning & Business Development) of the CompanyOrdinary94.33% for5.67% against
Against: promoters 0.00% · institutions 27.57% · other public 0.01%
Turnout: all 89.27% · promoters 100.00% · institutions 90.18% · other public 69.00%
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V.OrdinaryPromoters have an interest in it97.18% for2.82% against
Against: promoters 0.00% · institutions 5.79% · other public 0.02%
Turnout: all 37.77% · promoters 0.00% · institutions 90.18% · other public 69.00%
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd.OrdinaryPromoters have an interest in it97.18% for2.82% against
Against: promoters 0.00% · institutions 5.79% · other public 0.02%
Turnout: all 37.77% · promoters 0.00% · institutions 90.18% · other public 69.00%
- Approval for material Related Party Transactions with Petronet LNG Ltd.OrdinaryPromoters have an interest in it97.17% for2.83% against
Against: promoters 0.00% · institutions 5.81% · other public 0.01%
Turnout: all 37.77% · promoters 0.00% · institutions 90.18% · other public 69.00%
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd.OrdinaryPromoters have an interest in it82.10% for17.90% against
Against: promoters 0.00% · institutions 36.85% · other public 0.02%
Turnout: all 37.77% · promoters 0.00% · institutions 90.18% · other public 69.00%
- Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd.OrdinaryPromoters have an interest in it97.18% for2.82% against
Against: promoters 0.00% · institutions 5.79% · other public 0.01%
Turnout: all 37.77% · promoters 0.00% · institutions 90.18% · other public 69.00%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
Annual general meeting, 27 Aug 2021, 5 resolutions
Present: 1 promoter and 226 others.The company's voting result (opens in a new tab)
To receive, consider and adopt the audited Standalone as well as Consolidated Financial Statements of the Company for the year ended March 31, 2021 together with Reports of the Directors and the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 89.00% · promoters 100.00% · institutions 83.78% · other public 75.35%
- To declare the Final Dividend of Rs. 1.50 per equity share for the year 2020-21.Ordinary99.90% for0.10% against
Against: promoters 0.00% · institutions 0.95% · other public 0.00%
Turnout: all 89.15% · promoters 100.00% · institutions 85.06% · other public 75.35%
- To appoint a Director in place of Dr. S.S.V. Ramakumar (DIN: 07626484), who retires by rotation and is eligible for reappointment.Ordinary94.05% for5.95% against
Against: promoters 0.00% · institutions 54.76% · other public 0.02%
Turnout: all 89.15% · promoters 100.00% · institutions 85.06% · other public 75.35%
- To appoint a Director in place of Shri Ranjan Kumar Mohapatra (DIN: 08006199), who retires by rotation and is eligible for reappointment.Ordinary94.05% for5.95% against
Against: promoters 0.00% · institutions 54.76% · other public 0.01%
Turnout: all 89.15% · promoters 100.00% · institutions 85.06% · other public 75.35%
- To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2022.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 89.15% · promoters 100.00% · institutions 85.06% · other public 75.35%
For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.
How mutual funds voted
Fund houses must disclose how they vote at every meeting of a company they hold.Funds that hold it
Mutual fund votes, meeting of 31 Aug 2026, 13 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2026 together with Reports of the Directors and the Auditors thereon.MoreLess
Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund
- Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
- DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundWe have relied upon the auditors’ report, which has raised emphasis of matter about the volatility in the price of crude oil and petroleum products in the international market due to February 2026 Middle East conflict. Despite price volatility, FY26 profitability remained insulated due to inventory procured at normal prices before the conflict. Further, as of 31 March 2026, certain LPG and crude oil shipments faced transit delays in the Arab Gulf. Revenue for these vessels is recognized upon transfer of control under respective contract terms. We note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. Based on the auditor’s report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). We raise concern that the company has not constituted an audit committee in line with regulations and does not have sufficient independent directors on the board. In the absence of critical oversight provided by the audit committee, we are unable to support the resolution.
- Edelweiss Mutual Fund, Navi Mutual FundUnqualified Financial Statements (except certain CARO remarks/ observations). Governance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
7 for6 against- To declare a Final Dividend of Rs. 1.25 per equity share for the year 2025-26.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. Sufficient funds to pay final dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
10 for3 against - To appoint a Director in place of Ms. Rashmi Govil (DIN - 10531397) who retires by rotation and is eligible for reappointment.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
10 for3 against - To appoint a Director in place of Shri Arvind Kumar (DIN - 09224177) who retires by rotation and is eligible for reappointment.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
10 for3 against - To appoint Shri Saumitra P. Srivastava (DIN - 10236956) as Whole-time Director and to designate him as Director (Marketing) of the Company.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
10 for3 against - To appoint Shri A. Amarnath (DIN - 11690405) as Government Nominee Director of the Company.
Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund
- Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
- DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundA. Amarnath is an Indian Foreign Service Officer of 2006 batch. He currently serves as Officer on Special Duty (OSD) at the Joint Secretary level in the Ministry of Petroleum and Natural Gas (MoP&NG). He has previously served in Indian Diplomatic Missions in the United Arab Emirates, Israel and Maldives. However, the board composition is not compliant with regulations – it does not comprise requisite number of Independent Directors as prescribed under the SEBI Guidelines. We believe the government must first address the board independence before nominating its nominee on the board. We do not support the resolution.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
7 for6 against - Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundThe Company has failed to disclose whether the Audit Committee has reviewed the certificates provided by the Chief Executive Officer / Managing Director/ Whole-Time Director/ Manager and the Chief Financial Officer as mandated under the Related Party Transaction Industry Standards. Governance concern: In absence of adequate number of Independent Directors on the Board, the Audit Committee has been discontinued. The absence of a duly constituted Audit Committee raises concerns regarding the adequacy of independent oversight and the review and approval of the proposed Related Party Transactions.
- Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundNon-Compliant with RPT Industry Standards: The Company has failed to disclose whether the Audit Committee has reviewed the certificates provided by the CEO/ Managing Director/ Whole-Time Director/ Manager and the Chief Financial Officer as mandated under the RPT Industry Standards. Governance concern: In absence of adequate number of IDs on the Board, the Audit Committee has been discontinued. The absence of a duly constituted Audit Committee raises concerns regarding the adequacy of independent oversight and the review and approval of the proposed Related Party Transactions.
9 for4 against - To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2027.
Against Angel One Mutual Fund, Edelweiss Mutual Fund, Navi Mutual Fund
- Angel One Mutual FundGovernance concern: The composition of Audit committee is non-compliant with applicable provisions of Companies Act, 2013 and SEBI LODR.
- Edelweiss Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: The composition of Audit committee is non-compliant with applicable provisions of Companies Act, 2013 and SEBI LODR.
6 for3 against - Amendment in the Memorandum of Association (MoA) and Articles of Association (AoA) of the Company.13 for0 against
2 proposals not matched to one resolution
- 8) Approve aggregate remuneration of Rs. 2.7 mn to be paid to nine cost auditors for FY271 for0 against
- Approve aggregate remuneration of Rs. 2.7 mn to be paid to nine cost auditors for FY273 for0 against
Mutual fund votes, meeting of 30 Aug 2025, 29 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2025 together with Reports of the Directors and the Auditors thereon.MoreLess
28 for0 against- To declare a Dividend of 3 per equity share for the year 2024-25.28 for0 against
- To appoint a Director in place of Shri Anuj Jain (DIN - 10310088) who retires by rotation and is eligible for reappointment.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Anuj Jain is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominees is warranted because:• The board is chaired by an executive director and the board is not at least one-half independent and Anuj Jain, Alok Sharma and Esha Srivastava are non-independent director nominees
- quant Mutual FundCompliant with the law. No concern on the merits of the proposed appointees. Governance concern: Board is non-compliant with the requirement of requisite number of independent directors and Woman Independent Director.
17 for11 against - To appoint a Director in place of Dr. Alok Sharma (DIN - 10453982) who retires by rotation and is eligible for reappointment.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Alok Sharma is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominees is warranted because:• The board is chaired by an executive director and the board is not at least one-half independent and Anuj Jain, Alok Sharma and Esha Srivastava are non-independent director nominees
- quant Mutual FundCompliant with the law. No concern on the merits of the proposed appointees. Governance concern: Board is non-compliant with the requirement of requisite number of independent directors and Woman Independent Director.
17 for11 against - To appoint Shri Arvinder Singh Sahney (DIN 10652030) as Whole-time Director and to designate him as Chairman of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Holding combined position of Chairman and Managing Director, may lead to concentration of power in the hand of single person. Delayed approval of shareholders.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Holding combined position of Chairman and Managing Director, may lead to concentration of power in the hand of single person. Delayed approval of shareholders.
- quant Mutual FundCompliant with the law. No concern on the merits of the proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Holding combined position of Chairman and Managing Director, may lead to concentration of power in the hand of single person. Delayed approval of shareholders.
19 for9 against - To appoint Shri Suman Kumar (DIN - 09724749) as Director (Planning And Business Development) of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Delayed approval of shareholders.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointees. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Delayed approval of shareholders.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Suman Kumar is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because:• The board is chaired by an executive director and the board is not at least one-half independent and Suman Kumar is a non-independent director nominee.
- Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director. Delayed shareholders approval.
- quant Mutual FundCompliant with the law. No concern on the merits of the proposed appointees. Governance concern: Board is non-compliant with the requirement of requisite number of independent directors and Woman Independent Director. Delayed approval of shareholders.
18 for11 against - To reappoint Shri Prasenjit Biswas (DIN - 09398565) as an Independent Director of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
- Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
- quant Mutual FundNo concern on the merits of Director. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
20 for9 against - To reappoint Shri Krishnan Sadagopan (DIN - 09397902) as an Independent Director of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
- Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
- quant Mutual FundNo concern on the merits of Director. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
20 for9 against - To reappoint Dr. Dattatreya Rao Sirpurker (DIN -09400251) as an Independent Director of the Company.
Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
- Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board does not have a female director and Dattatreya Rao Sirpurker is the chairman of the nomination and remuneration committee are most senior members of the nomination and remuneration committee.
- HSBC Mutual FundA vote AGAINST the following nominees is warranted because: The board does not have a female director and Dattatreya Rao Sirpurker is the chairman of the nomination and remuneration committee are most senior members of the nomination and remuneration committee.
- Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
- quant Mutual FundNo concern on the merits of Director. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
17 for11 against - To Appoint Ms. Esha Srivastava (DIN 08504560) as Government Nominee Director of the Company.
Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund
- Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual Fund, Unifi Mutual FundMs. Esha Srivastava, 45, is an Indian Foreign Service Officer of 2004 Batch. She is currently serving as Joint Secretary (International Cooperation) in Ministry of Petroleum & Natural Gas (MoP&NG). She has previously worked with Ministry of External Affairs as Deputy Chief of Mission in Thimphu and also as Third Secretary at Paris. The board composition is not compliant with regulations – it does not comprise an independent woman director and the requisite number of Independent Directors as prescribed under the SEBI Guidelines. We believe the government must first address the board independence before nominating a director on the board. 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. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and woman Independent Director.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because: * The board is chaired by an executive director and the board is not at least one-half independent and Esha Srivastava is a non-independent director nominee. * Esha Srivastava is getting a permanent board seat which could reduce her accountability by disallowing shareholder review for her continued service.
- HSBC Mutual FundA vote AGAINST the following nominees is warranted because:• The board is chaired by an executive director and the board is not at least one-half independent and Anuj Jain, Alok Sharma and Esha Srivastava are non-independent director nominees. Esha Srivastava is getting a permanent board seat which could reduce her accountability by disallowing shareholder review for her continued service
- Invesco Mutual FundMs. Esha Srivastava, 45, is an Indian Foreign Service Officer of 2004 Batch. She is currently serving as Joint Secretary (International Cooperation) in Ministry of Petroleum & Natural Gas (MoP&NG). She has previously worked with Ministry of External Affairs as Deputy Chief of Mission in Thimphu and also as Third Secretary at Paris.The board composition is not compliant with regulations – it does not comprise an independent woman director and the requisite number of Independent Directors as prescribed under the SEBI Guidelines. We believe the government must first address the board independence before nominating a director on the board. We do not support the resolution
- Mirae Asset Mutual FundIn line with advisor recommendation (passive holding)
- quant Mutual FundCompliant with the law. No concern on the merits of the proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of independent directors and Woman Independent Director.
11 for17 against - To appoint Dholakia And Associates LLP Practicing Company Secretaries, Mumbai as Secretarial Auditor of the Company29 for0 against
- Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with IHB Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.28 for0 against
- Approval for material Related Party Transactions with Lubrizol India Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2026-27.29 for0 against
Approval for material Related Party Transactions of IOC Global Capital Management IFSC Ltd. (IGCMIL), a Wholly Owned Subsidiary of IndianOil, with Related parties of IndianOil for the financial year 2025-26.MoreLess
22 for0 againstApproval for material Related Party Transactions of IOC Global Capital Management IFSC Ltd. (IGCMIL), a Wholly Owned Subsidiary of IndianOil, with Related Parties of IndianOil for the financial year 2026-27.MoreLess
23 for0 against- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2026.22 for0 against
- To issue Corporate Guarantee upto Rs.481 crore for banking facilities on behalf of Indofast Swap Energy Private Limited, a Joint Venture Company of IndianOil.29 for0 against
16 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it1 for0 against
- Item 4, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- Item 9, as a fund house numbered it1 for0 against
- Item 10, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundMs. Esha Srivastava, 45, is an Indian Foreign Service Officer of 2004 Batch. She is currently serving as Joint Secretary (International Cooperation) in Ministry of Petroleum & Natural Gas (MoP&NG). She has previously worked with Ministry of External Affairs as Deputy Chief of Mission in Thimphu and also as Third Secretary at Paris. The board composition is not compliant with regulations – it does not comprise an independent woman director and the requisite number of Independent Directors as prescribed under the SEBI Guidelines. We believe the government must first address the board independence before nominating a director on the board. We do not support the resolution.
0 for1 against - Item 18, as a fund house numbered it1 for0 against
- Item 20, as a fund house numbered it1 for0 against
- Item 22, as a fund house numbered it1 for0 against
- 20) Approve material related party transactions between IOC Global Capital Management IFSC Ltd (IGCMIL), wholly owned subsidiary, with related parties of Indian Oil Corporation Limited for FY26.1 for0 against
- 21) Approve material related party transactions between IOC Global Capital Management IFSC Ltd (IGCMIL), wholly owned subsidiary, with Related parties of Indian Oil Corporation Limited for FY27.1 for0 against
- 22) Approve aggregate remuneration of Rs. 2.45 mn to be paid to eight cost auditors for FY26.1 for0 against
- Approve aggregate remuneration of Rs. 2.45 mn to be paid to eight cost auditors for FY265 for0 against
- Approve material related party transactions between IOC Global Capital Management IFSC Ltd (IGCMIL), wholly owned subsidiary, with related parties of Indian Oil Corporation Limited for FY265 for0 against
- Approve material related party transactions between IOC Global Capital Management IFSC Ltd (IGCMIL), wholly owned subsidiary, with Related parties of Indian Oil Corporation Limited for FY275 for0 against
6 earlier meetings
Mutual fund votes, meeting of 9 Aug 2024, 29 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2024 together with Reports of the Directors and the Auditors thereonMoreLess
28 for0 against- To declare the Final Dividend of Rs. 7/- per equity share for the year 2023-202428 for0 against
- To appoint a Director in place of Shri Sujoy Choudhury (DIN - 09503285) who retires by rotation and is eligible for reappointment.
Against Bajaj Finserv Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
- Bajaj Finserv Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual FundRe-appointment compliant with law. No concern on the merit of the appointee. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs and woman director.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence norms are not met and Sujoy Choudhury is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met and Sujoy Choudhury, Rashmi Govil, Anuj Jain, Arvind Kumar and Alok Sharma are non-independent director nominees.
- JM Financial Mutual FundRe-appointment compliant with law. No concern on the merit of the appointee. Governance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors and woman director.
- PPFAS Mutual FundNon-compliant board with requisite number of ID’s & woman ID.
- Zerodha Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of IDs and woman director.
19 for9 against - Appointment of Shri Anuj Jain (DIN-10310088) as Director (Finance) of the Company.
Against Bajaj Finserv Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
- Bajaj Finserv Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence norms are not met and Anuj Jain is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met and Sujoy Choudhury, Rashmi Govil, Anuj Jain, Arvind Kumar and Alok Sharma are non-independent director nominees.
- JM Financial Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors, woman Independent Director & Delayed Shareholders’ approval.
- LIC Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders approval.
- PPFAS Mutual FundNon-compliant board with requisite number of ID’s, woman ID & delayed in Shareholders’ approval.
- Zerodha Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
19 for9 against - Appointment of Shri Alok Sharma (DIN-10453982) as Director (Research & Development) of the Company.
Against Bajaj Finserv Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
- Bajaj Finserv Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence norms are not met and Alok Sharma is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met and Sujoy Choudhury, Rashmi Govil, Anuj Jain, Arvind Kumar and Alok Sharma are non-independent director nominees.
- JM Financial Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors, woman Independent Director & Delayed Shareholders’ approval.
- LIC Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders approval.
- PPFAS Mutual FundNon-compliant board with requisite number of ID’s, woman ID & delayed in Shareholders’ approval.
- Zerodha Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
19 for9 against - Appointment of Ms. Rashmi Govil (DIN-10531397) as Director (Human Resources) of the Company.
Against Bajaj Finserv Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
- Bajaj Finserv Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence norms are not met and Rashmi Govil is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met and Sujoy Choudhury, Rashmi Govil, Anuj Jain, Arvind Kumar and Alok Sharma are non-independent director nominees.
- JM Financial Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors, woman Independent Director & Delayed Shareholders’ approval.
- LIC Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders approval.
- PPFAS Mutual FundNon-compliant board with requisite number of ID’s, woman ID & delayed in Shareholders’ approval.
- Zerodha Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of IDs, woman ID & Delayed Shareholders’ approval.
19 for9 against - Appointment of Shri Arvind Kumar (DIN-09224177) as Director (Refineries) of the Company.
Against Bajaj Finserv Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund
- Bajaj Finserv Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual FundAppointment compliant with law. No concern on the merit of the appointee. Governance concern: Board is non-compliant with respect to requirement of minimum number of IDs and woman director.
- Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence norms are not met and Arvind Kumar is a non-independent director nominee.
- HSBC Mutual FundA vote AGAINST the following nominee is warranted because: • The board independence norms are not met and Sujoy Choudhury, Rashmi Govil, Anuj Jain, Arvind Kumar and Alok Sharma are non-independent director nominees.
- JM Financial Mutual FundAppointment compliant with law. No concern on the merit of the appointee. Governance concern: Board is non-compliant with respect to requirement of minimum number of Independent Directors and woman director.
- PPFAS Mutual FundNon-compliant board with requisite number of ID’s & woman ID.
- Zerodha Mutual FundGovernance concern: Board is non-compliant with respect to requirement of minimum number of IDs and woman director.
19 for9 against - Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary Company of IndianOil, for the year 2025-26.29 for0 against
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Limited, a Joint Venture Company of IndianOil, for the year 2025-26.28 for0 against
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.n28 for0 against
- Approval for material Related Party Transactions with IHB Limited, a Joint Venture Company of IndianOil, for the year 2025-26.28 for0 against
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.
Against Franklin Templeton Mutual Fund, HSBC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
- HSBC Mutual FundA vote AGAINST this resolution is warranted because: • The proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
26 for2 against - Approval for material Related Party Transactions with IndianOil NTPC Green Energy Private Limited, a Joint Venture Company of IndianOil, for the year 2025-26.28 for0 against
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.28 for0 against
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2025-26.n28 for0 against
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V., Joint Venture of IndOil Global BV, Netherlands (WOS of IndianOil) for the year 2025-26.28 for0 against
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2025.24 for0 against
18 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it1 for0 against
- Item 4, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- Item 6, as a fund house numbered it1 for0 against
- Item 7, as a fund house numbered it1 for0 against
- Item 9, as a fund house numbered it1 for0 against
- Item 10, as a fund house numbered it1 for0 against
- Item 11, as a fund house numbered it1 for0 against
- Item 12, as a fund house numbered it1 for0 against
- Item 13, as a fund house numbered it1 for0 against
- Item 14, as a fund house numbered it1 for0 against
- Item 15, as a fund house numbered it1 for0 against
- Item 16, as a fund house numbered it1 for0 against
- Item 17, as a fund house numbered it1 for0 against
- 17) Approve aggregate remuneration of Rs. 2.45 mn to be paid to seven cost auditors for FY25.1 for0 against
- Approve aggregate remuneration of Rs. 2.45 mn to be paid to seven cost auditors for FY253 for0 against
Mutual fund votes, meeting of 25 Aug 2023, 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2023 together with Reports of the Directors and the Auditors thereon.MoreLess
19 for0 against- To declare the Final Dividend of Rs. 3/- per equity share for the year 2022-2023.19 for0 against
- To appoint a Director in place of Shri Satish Kumar Vaduguri (DIN - 09322002) who retires by rotation and is eligible for reappointment.
Against Bandhan Mutual Fund, JM Financial Mutual Fund, Motilal Oswal Mutual Fund
- Bandhan Mutual FundSatish Kumar Vaduguri, 58, is the Executive Director – Marketing on the board of the company. He has served on the board since 28 October 2021. He is also holding additional charge of Director (Finance) since 3 May 2023. He has attended all twelve board meetings in FY23. He retires by rotation. His reappointment is in line with statutory requirements.
- JM Financial Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance concern: Board is non-compliant w.r.t woman ID.
17 for3 against - To increase the Authorized Share Capital of the Company and amend the Capital clause in the Memorandum of Association & Articles of Association of the Company.20 for0 against
- Approval for material Related Party Transactions with Lanka IOC PLC, a Subsidiary of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with Cauvery Basin Refinery and Petrochemicals Limited, a Joint Venture Company of IndianOil, for the year 2024-25.20 for0 against
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with IHB Limited, a Joint Venture Company of IndianOil, for the year 2024-25.20 for0 against
- Approval for material Related Party Transactions with Indian Synthetic Rubber Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.
Against Franklin Templeton Mutual Fund, HSBC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because the proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
- HSBC Mutual FundA vote AGAINST this resolution is warranted because: The proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
18 for2 against - Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with IndianOil NTPC Green Energy Private Limited, a Joint Venture Company of IndianOil, for the year 2024-25.20 for0 against
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2024-25.19 for0 against
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V., Joint Venture of IndOil Global BV, Netherlands (WOS of IndianOil) for the year 2024-25.19 for0 against
- To ratify the remuneration of the Cost Auditors for the Financial Year ending March 31, 2024.15 for0 against
- To appoint Shri Nachimuthu Senthil Kumar (DIN – 10230965) as Director (Pipelines) of the Company.
Against JM Financial Mutual Fund, Motilal Oswal Mutual Fund
- JM Financial Mutual Fund, Motilal Oswal Mutual FundNon-compliant with sec 101 of Companies Act. Governance concern: Board non-compliant w.r.t Woman ID.
17 for2 against
12 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 2, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- Item 7, as a fund house numbered it1 for0 against
- Item 9, as a fund house numbered it1 for0 against
- Item 11, as a fund house numbered it1 for0 against
- Item 13, as a fund house numbered it1 for0 against
- Item 14, as a fund house numbered it1 for0 against
- Item 15, as a fund house numbered it1 for0 against
- Item 16, as a fund house numbered it1 for0 against
- 16) Approve aggregate remuneration of Rs. 2.27 mn to be paid to seven cost auditors for FY24.1 for0 against
- Approve aggregate remuneration of Rs. 2.27 mn to be paid to seven cost auditors for FY243 for0 against
Mutual fund votes, meeting of 25 Aug 2022, 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2022 together with Reports of the Directors and the Auditors thereon.MoreLess
20 for0 against- To declare the Final Dividend of Rs. 2.40 per equity share for the year 2021-2022.20 for0 against
- To appoint a Director in place of Shri Sandeep Kumar Gupta (DIN - 07570165) who retires by rotation and is eligible for reappointment.
Against Bandhan Mutual Fund, Franklin Templeton Mutual Fund, JM Financial Mutual Fund
- Bandhan Mutual Fund, JM Financial Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board
- Franklin Templeton Mutual FundA vote AGAINST the election of Sandeep Kumar Gupta is warranted because the board independence norms are not met, and he is non-independent director nominee.
17 for3 against - To appoint a Director in place of Dr. S.S.V. Ramakumar (DIN - 07626484), who retires by rotation and is eligible for reappointment.
Against Bandhan Mutual Fund, Franklin Templeton Mutual Fund, JM Financial Mutual Fund
- Bandhan Mutual Fund, JM Financial Mutual FundAlthough proposed appointees are eligible and no concern identified on merits, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board
- Franklin Templeton Mutual FundA vote AGAINST the election of S.S.V Ramakumar is warranted because the board independence norms are not met, and he is non-independent director nominee.
17 for3 against - Approval for material Related Party Transactions with Lanka IOC PLC., a subsidiary company of IndianOil, for the year 2022-23 & 2023-24.20 for0 against
- Approval for material Related Party Transactions with Hindustan Urvarak Rasayan Limited, a Joint Venture Company of IndianOil, for the year 2022-23 & 2023-24.20 for0 against
- Approval for material Related Party Transactions with Falcon Oil & Gas B.V. Joint Venture Company of IndOil Global B.V., a WOS of IndianOil for the year 2023-24.20 for0 against
- Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.n20 for0 against
- Approval for material Related Party Transactions with Petronet LNG Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.20 for0 against
- Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.
Against Franklin Templeton Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the following concern: • The proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
19 for1 against - Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.20 for0 against
- Approval for material Related Party Transactions with Indian Synthetic Rubber Pvt. Ltd., a Joint Venture Company of IndianOil, for the year 2023-24.
Against Franklin Templeton Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the following concern: • The proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
19 for1 against - To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2023.16 for0 against
2 proposals not matched to one resolution
- 13) Approve aggregate remuneration of Rs. 2.27 mn to be paid to five cost auditors for FY23.1 for0 against
- Approve aggregate remuneration of Rs. 2.27 mn to be paid to five cost auditors for FY223 for0 against
Mutual fund votes, meeting of 22 Jun 2022, 18 fund houses
- Appointment of Dr. (Prof.) Ram Naresh Singh (DIN - 07571840) as an Independent Director of the Company
Against Bank of India Mutual Fund, Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund
- Bank of India Mutual FundDr. Ram Naresh Singh, 65, is a retired professor and currently a board member in Bhupendra Narayan Mandal University as a Government of Bihar Nominee. He has more than four decades of academic experience and has held key positions like Head of Maithili Department, PG Centre, Saharsa and Principal, H.S. College Udakishungang, Madhepura. He has also been a member of various Hindi Advisory Committees of the Government of India. He is an M.A. in Maithili and English and holds a Ph.D. in Maithili and an LLB. Public sources indicate that Dr. Ram Naresh Singh has political affiliations. We do not support his appointment as an Independent Director as we believe his political affiliation may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliations in the shareholder notice.
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted in view of the following concern: • Questions could be raised around Ram Naresh Singh's potential contribution to the board, given his limited relevant work experience. Also, there is lack of clarity on the relevant skills and experience to be on the board of the company.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
15 for3 against - To capitalize the Reserves of the Company and to issue Bonus Shares18 for0 against
Mutual fund votes, meeting of 20 Apr 2022, 19 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Appointment of Shri Satish Kumar Vaduguri (DIN - 09322002) as Director (Marketing) of the Company
Against Franklin Templeton Mutual Fund, LIC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the election of Satish Kumar Vaduguri is warranted because the board independence norms are not met, and he is non-independent director nominee.
- LIC Mutual FundAlthough proposed appointees are eligible, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board.
16 for2 against - Appointment of Shri Dilip Gogoi Lalung (DIN - 09398549) as an Independent Director of the Company19 for0 against
- Appointment of Dr. Ashutosh Pant (DIN - 03057160) as an Independent Director of the Company
Against Bank of India Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Quantum Mutual Fund
- Bank of India Mutual FundDr. Ashutosh Pant, 45, is engaged in strategic policy making and turnkey projects for educational institutions, business corporates and NGOs. He has previously worked with Henan University of Science & Technology, China. He holds a B.Tech. in Computers from Thomson River University, Vancouver, Canada. He is also an M.Tech. in Information Technology from Sam Higginbottom University of Agriculture, Technology & Services Allahabad and a Ph.D in Skill Development from Banasthali Vidyapith, Jaipur. Public sources indicate that Dr. Ashutosh Pant has political affiliations. We do not support his appointment as an Independent Director as we believe his political affiliation may unnecessarily politicise the decisions of the company and distract the management from its core focus.
- Invesco Mutual FundDr. Ashutosh Pant, 45, is engaged in strategic policy making and turnkey projects for educational institutions, business corporates and NGOs. He has previously worked with Henan University of Science & Technology, China. As per pubilcally available information, Mr. Pant has political affiliations. We expect Independent Director to not have any political affiliations
- Mirae Asset Mutual FundIn line with internal voting guidelines (passive holding)
- Quantum Mutual FundThe appointment meets statutory requirements, however due to his political affiliation we believe there is a conflict of interest which may impede his independence and objectivity as an Independent Director.
14 for4 against - Appointment of Dr. Dattatreya Rao Sirpurker (DIN - 09400251) as an Independent Director of the Company18 for0 against
- Appointment of Shri Prasenjit Biswas (DIN - 09398565) as an Independent Director of the Company18 for0 against
- Appointment of Shri Sudipta Kumar Ray (DIN - 02534632) as an Independent Director of the Company
Against Bank of India Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Quantum Mutual Fund
- Bank of India Mutual FundSudipta Kumar Ray, 58, is a practicing advocate in the area of Corporate Law, Securities Law and Economic Law. He has experience in the field of Public Distribution System and National Food Security Schemes. He has earlier worked as Chairperson of Odisha State Civil Supplies Corporation Limited, Vice Chairperson of National Reconstruction Corps Scheme, Member of Research Advisory Committee of Water Technology Council of Eastern Region and member of National Telephone Advisory Council. He is a law Graduate and holds a master’s degree in public administration from Utkal University. Public sources indicate that he has political affiliations. We do not support his appointment as an Independent Director as we believe his political affiliation may unnecessarily politicise the decisions of the company and distract the management from its core focus.
- Invesco Mutual FundSudipta Kumar Ray, 58, is a practicing advocate in the area of Corporate Law, Securities Law and Economic Law. He has experience in the field of Public Distribution System and National Food Security Schemes. As per pubilcally available information, Mr. Ray has political affiliations. We expect Independent Director to not have any political affiliations
- Mirae Asset Mutual FundIn line with internal voting guidelines (passive holding)
- Quantum Mutual FundThe appointment meets statutory requirements, however due to his political affiliation we believe there is a conflict of interest which may impede his independence and objectivity as an Independent Director.
14 for4 against - Appointment of Shri Krishnan Sadagopan (DIN - 09397902) as an Independent Director of the Company18 for0 against
- Appointment of Shri Dayanand Sadashiv Nanaware (DIN - 07354849) as Director (Pipelines) of the Company
Against Franklin Templeton Mutual Fund, LIC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the election of Dayanand Sadashiv Nanaware is warranted because the board independence norms are not met, and he is non-independent director nominee.
- LIC Mutual FundAlthough proposed appointees are eligible, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board.
16 for2 against - Appointment of Ms. Sukla Mistry (DIN - 09309378) as Director (Refineries) of the Company
Against Franklin Templeton Mutual Fund, LIC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the election of Sukla Mistry is warranted because the board independence norms are not met, and he is non-independent director nominee.
- LIC Mutual FundAlthough proposed appointees are eligible, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board.
16 for2 against - Appointment of Shri Sujoy Choudhury (DIN - 09503285) as Director (Planning & Business Development) of the Company
Against Franklin Templeton Mutual Fund, LIC Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the election of Sujoy Choudhury is warranted because the board independence norms are not met, and he is non-independent director nominee.
- LIC Mutual FundAlthough proposed appointees are eligible, the Board is non-compliant with SEBI LODR Regulation regarding composition of Board.
17 for2 against - Approval for material Related Party Transactions with Falcon Oil & Gas B.V.
Against LIC Mutual Fund, Nippon India Mutual Fund
- LIC Mutual FundThe transaction is not for specific tenure indicating that perpetual approval, thus the Company is non-compliant with respect to SEBI LODR read with circular dated 22nd November 2021.
- Nippon India Mutual FundPerpetual approval, hence not approved
16 for2 against - Approval for material Related Party Transactions with IndianOil Petronas Pvt. Ltd.
Against LIC Mutual Fund, Nippon India Mutual Fund
- LIC Mutual FundThe transaction is not for specific tenure indicating that perpetual approval, thus the Company is non-compliant with respect to SEBI LODR read with circular dated 22nd November 2021.
- Nippon India Mutual FundPerpetual approval, hence not approved
14 for2 against - Approval for material Related Party Transactions with Petronet LNG Ltd.
Against LIC Mutual Fund, Nippon India Mutual Fund
- LIC Mutual FundThe transaction is not for specific tenure indicating that perpetual approval, thus the Company is non-compliant with respect to SEBI LODR read with circular dated 22nd November 2021.
- Nippon India Mutual FundPerpetual approval, hence not approved
17 for2 against - Approval for material Related Party Transactions with IndianOil Adani Gas Pvt. Ltd.
Against Franklin Templeton Mutual Fund, LIC Mutual Fund, Nippon India Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the following concern: • The proposed mandate includes provision for guarantees, wherein the company may be taking on a disproportionate amount of risk relative to its ownership stake, without a compelling justification.
- LIC Mutual FundThe transaction is not for specific tenure indicating that perpetual approval, thus the Company is non-compliant with respect to SEBI LODR read with circular dated 22nd November 2021.
- Nippon India Mutual FundPerpetual approval, hence not approved
13 for3 against - Approval for material Related Party Transactions with IndianOil LNG Pvt. Ltd.
Against LIC Mutual Fund, Nippon India Mutual Fund
- LIC Mutual FundThe transaction is not for specific tenure indicating that perpetual approval, thus the Company is non-compliant with respect to SEBI LODR read with circular dated 22nd November 2021.
- Nippon India Mutual FundPerpetual approval, hence not approved
14 for2 against
15 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 3, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundDr. Ashutosh Pant, 45, is engaged in strategic policy making and turnkey projects for educational institutions, business corporates and NGOs. He has previously worked with Henan University of Science & Technology, China. He holds a B.Tech. in Computers from Thomson River University, Vancouver, Canada. He is also an M.Tech. in Information Technology from Sam Higginbottom University of Agriculture, Technology & Services Allahabad and a Ph.D in Skill Development from Banasthali Vidyapith, Jaipur. Public sources indicate that Dr. Ashutosh Pant has political affiliations. We do not support his appointment as an Independent Director as we believe his political affiliation may unnecessarily politicise the decisions of the company and distract the management from its core focus.
0 for1 against - Item 4, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- Item 6, as a fund house numbered it1 for0 against
- Item 7, as a fund house numbered it1 for0 against
- Item 8, as a fund house numbered it1 for0 against
- Item 9, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundSudipta Kumar Ray, 58, is a practicing advocate in the area of Corporate Law, Securities Law and Economic Law. He has experience in the field of Public Distribution System and National Food Security Schemes. He has earlier worked as Chairperson of Odisha State Civil Supplies Corporation Limited, Vice Chairperson of National Reconstruction Corps Scheme, Member of Research Advisory Committee of Water Technology Council of Eastern Region and member of National Telephone Advisory Council. He is a law Graduate and holds a master’s degree in public administration from Utkal University. Public sources indicate that he has political affiliations. We do not support his appointment as an Independent Director as we believe his political affiliation may unnecessarily politicise the decisions of the company and distract the management from its core focus.
0 for1 against - Item 11, as a fund house numbered it1 for0 against
- Item 12, as a fund house numbered it1 for0 against
- Item 14, as a fund house numbered it1 for0 against
- Item 15, as a fund house numbered it1 for0 against
- Approve related party transaction upto Rs. 20.0 bn with Indian Oil LNG Pvt. Ltd., a joint venture company, in FY232 for0 against
- Approve related party transactions upto Rs. 12.0 bn with Indian Oil Adani Gas Pvt. Ltd., a joint venture company, in FY232 for0 against
- Approve related party transactions upto Rs. 31.0 bn with Indian Oil Petronas Pvt. Ltd., a joint venture company, in FY232 for0 against
Mutual fund votes, meeting of 27 Aug 2021, 19 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 as well as Consolidated Financial Statements of the Company for the year ended March 31, 2021 together with Reports of the Directors and the Auditors thereon.MoreLess
17 for0 against- To declare the Final Dividend of Rs. 1.50 per equity share for the year 2020-21.19 for0 against
- To appoint a Director in place of Dr. S.S.V. Ramakumar (DIN: 07626484), who retires by rotation and is eligible for reappointment.
Against Franklin Templeton Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted because: • The board independence norms are not met and Srivenkata Sankara Ramakumar is an non-independent director nominee.
18 for1 against - To appoint a Director in place of Shri Ranjan Kumar Mohapatra (DIN: 08006199), who retires by rotation and is eligible for reappointment.
Against Franklin Templeton Mutual Fund
- Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted because: • The board independence norms are not met and Ranjan Kumar Mohapatra is an non-independent director nominee.
18 for1 against - To ratify the remuneration of the Cost Auditors for the financial year ending March 31, 2022.12 for0 against
4 proposals not matched to one resolution
- Item 1, as a fund house numbered it1 for0 against
- Item 5, as a fund house numbered it1 for0 against
- 5) Approve aggregate remuneration of Rs. 2.02 mn to be paid to five Cost Auditors for FY22.1 for0 against
- Approve aggregate remuneration of Rs. 2.02 mn to be paid to five cost auditors for FY225 for0 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines and tax disputes
Reported in the filing for the quarter to Jun 2026.
- Fine or penaltyBSE Ltd.Since 27 May 2026
Fine of Rs. 5,68,760 imposed for non-compliance with the provision of Reg. 17(1), 18(1), 19(1)/19(2), 20(2)/(2A), and 21(2) of the SEBI (LODR), Regulations 2015 relating to composition of Board of Directors and Committees of Board for the quarter ended 31st March 2026.
Non-compliance with the requirements relating to the composition of the Board of Directors under Regulation 17(1), and the constitution/composition of the statutory committees under Regulations 18(1), 19(1) and 19(2), 20(2) and 20(2A), and 21(2) for the quarter ended 30.03.2026.MoreLess
- Fine or penaltyNational Stock Exchange of India LimitedSince 27 May 2026
Fine of Rs. 5,68,760 imposed for non-compliance with the provision of Reg. 17(1), 18(1), 19(1)/19(2), 20(2)/(2A), and 21(2) of the SEBI (LODR), Regulations 2015 relating to composition of Board of Directors and Committees of Board for the quarter ended 31st March 2026.
Non-compliance with the requirements relating to the composition of the Board of Directors under Regulation 17(1), and the constitution/composition of the statutory committees under Regulations 18(1), 19(1) and 19(2), 20(2) and 20(2A), and 21(2) for the quarter ended 30.03.2026.MoreLess
- Tax disputeIncome-tax Department, MumbaiSince 23 Mar 2019
Appeal partly allowed by CIT(A) vide order dt. 23.10.2025 allowing relief of Rs. 1,102.91 crore. Appeal before ITAT has been filed by the Company for seeking relief towards balance disputed tax of Rs. 91.16 crore. Appeal is pending as on date. Against the order of CIT(A), Income-tax Department has also filed an appeal before the ITAT on 31.12.2025 contesting disputed tax of Rs. 905.71 crore. Appeal is pending as on dateMoreLess
At the filing before: Various disallowances as per the Assessment Order for Assessment Year 2016-17 Appeal partly allowed by CIT(A) vide order dt. 23.10.2025 allowing relief of Rs. 1,102.91 crore. Appeal before ITAT has been filed by the Company for seeking relief towards balance disputed tax of Rs. 91.16 crore. Appeal is pending as on date. Against the order of CIT(A), Income-tax Department has also filed an appeal before the ITAT on 31.12.2025 contesting disputed tax of Rs. 905.71 crore. Appeal is pending as on date.MoreLess
- Tax disputeCommissioner Central Goods and Service Tax, MumbaiSince 6 Sep 2023Departmental appeal admitted by CESTAT, Mumbai. Case pending for merit hearing.
At the filing before: Show Cause Notice (SCN) raised on Indian Oil proposing Demand of Excise duty of Rs.4002 crore on the ethanol portion contained in Ethanol Blended Motor Spirit (EBMS) sold by IndianOil during the period 01.03.2014 to 31.12.2018. The SCN was adjudicated by Commissioner, Mumbai and IndianOil got a favourable order vide Order in Original (OIO) dated 06.02.2023 and concluded the proceedings. Against the said OlO, department has filed the appeal which has been admitted by CESTAT, Mumbai vide order dated 06.09.2023 (received on 28.09.2023) and the case would be listed for merit hearing.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
At most 5 complaints open, quarter to Mar 2026.
- The board is made up as the listing rules require
- No
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- Yes
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- Yes
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.