Indian Renewable Energy Development Agency CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 29 Sep 2026, 9 fund houses so far (houses' deadline to file 15 Oct 2026)

• To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2026, along with the reports of the Board of Directors, Auditors and the Comments of the Comptroller & Auditor General of India thereon.MoreLess

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi 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 FundWe have relied upon the auditors’ report, which has raised emphasis of matter relating to the constitution of the Audit Committee and adoption of the standalone financial statements; the appropriation of the difference between impairment allowances under Ind AS 109 and provisions required under the RBI’s IRACP norms to an Impairment Reserve; and the early adoption of the revised capital-adequacy framework, which reduced risk-weighted assets by Rs. 77.9 bn and increased CRAR by 1.83 percentage points to 20.59%. Further, accounts aggregating Rs. 3.9 bn were classified as Stage II/Standard instead of Stage III/NPAs pursuant to interim court orders, although interest was recognised on a collection basis and impairment allowances were made. The auditors also noted that the new Labour Codes had no financial impact. The auditor’s opinion is not modified in these matters. Based on the auditors’ report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). However, the company has not disclosed the report on adequacy of internal financial controls for consolidated financial statements.We raise concern that the company has not constituted an audit committee in line with regulations and did not have sufficient independent directors on the board, while the accounts were finalized. In the absence of critical oversight provided by the audit committee, we are unable to support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified financial statements (except certain non-material remarks in CARO report). Governance concern: Non-Compliant Audit Committee. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • Jio BlackRock Mutual FundWe have relied upon the auditors’ report, which has raised emphasis of matter relating to the constitution of the Audit Committee and adoption of the standalone financial statements; the appropriation of the difference between impairment allowances under Ind AS 109 and provisions required under the RBI’s IRACP norms to an Impairment Reserve; and the early adoption of the revised capital-adequacy framework, which reduced risk-weighted assets by Rs. 77.9 bn and increased CRAR by 1.83 percentage points to 20.59%. Further, accounts aggregating Rs. 3.9 bn were classified as Stage II/Standard instead of Stage III/NPAs pursuant to interim court orders, although interest was recognised on a collection basis and impairment allowances were made. The auditors also noted that the new Labour Codes had no financial impact. The auditor’s opinion is not modified in these matters. Based on the auditors’ report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). However, the company has not disclosed the report on adequacy of internal financial controls for consolidated financial statements. We raise concern that the company has not constituted an audit committee in line with regulations and did not have sufficient independent directors on the board, while the accounts were finalized. In the absence of critical oversight provided by the audit committee, we are unable to support the resolution.

  3 for6 against
• To confirm the Interim Dividend declared and paid for the financial year 2025-26 and to declare the Final Dividend for the financial year 2025-26.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. Sufficient funds available for payment of final dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  5 for4 against
• To appoint a Director in place of Shri Padam Lal Negi (DIN: 10041387), Director (Government Nominee), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • DSP Mutual Fund, Jio BlackRock Mutual FundPadam Lal Negi, 59, is Joint Secretary and Financial Advisor in the Ministry of Civil Aviation with the additional charge of Joint Secretary and Financial Adviser of Ministry of New and Renewable Energy, Government of India. He has been on the board of the company since 7 February 2023. He attended all twenty six board meetings held in FY26. He retires by rotation. While his reappointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the Ministry of New and Renewable Energy, Government of India to first address the board composition before (re)appointing its nominees to the board. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.

  3 for6 against
• To authorize the Board of Directors of the Company to fix the remuneration of Statutory Auditors as appointed by the Comptroller and Auditor General of India for the financial year 2026-27.

  9 for0 against
• To appoint Shri Javvadi Venkata Naga Subramanyam (DIN: 07935156) as a Director (Government Nominee) of the Company.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • DSP Mutual Fund, Jio BlackRock Mutual FundJavvadi Venkata Naga Subramanyam, 46, is Joint Secretary, Ministry of New and Renewable Energy, Government of India. Prior to his current role, he served as a Director, Department of Economic Affairs, Ministry of Finance. In the past, he was Vice Chairperson and Managing Director, Andhra Pradesh Industrial Infrastructure Development Corporation (APIIC); Commissioner of Industries; CEO, AP Economic Development Board; Mission Director, National Health Mission, Assam; and Deputy Commissioner & District Magistrate, Goalpara, Assam. He has over 18 years of experience across Central and State Governments in renewable energy, public financial management, industrial and infrastructure promotion, health systems, and governance reforms. While his reappointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the Ministry of New and Renewable Energy, Government of India to first address the board composition before (re)appointing its nominees to the board. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointees. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.

  3 for6 against
• To appoint Shri Manoneet Dalal (DIN: 10059661) as Non-Official Director (Independent Director) of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Term of appointment is ambiguous and against spirit of the law.

  5 for4 against
• To ratify the remuneration of the Cost Auditor for the Financial Year 2026-27.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC 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, LIC 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.

  5 for4 against

Mutual fund votes, meeting of 14 Mar 2026, 21 fund houses

• To raise capital through an issuance of equity share

  21 for0 against

• Fine or penaltyNational Stock Exchange of India LimitedSince 27 May 2026

  The National Stock Exchange of India Limited (NSE) imposed a monetary fine of Rs. 2,02,960/- (Rupees Two Lakh Two Thousand Nine Hundred Sixty only), inclusive of GST, on the Company for the quarter ended March 31, 2026, for the non-compliance of certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

  Non-compliance with the provisions of Regulations 17(1), 18(1), 19(1), 19(2), 20(2), 20(2A), 21(2) and 17(2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to the composition of the Board of Directors and its Committees, quorum of the Board Meeting for the quarter ended March 31, 2026.MoreLess
• Fine or penaltyBSE LimitedSince 27 May 2026

  BSE Limited (BSE) imposed a monetary fine of Rs. 2,02,960/- (Rupees Two Lakh Two Thousand Nine Hundred Sixty only), inclusive of GST, on the Company for the quarter ended March 31, 2026, for the non-complianceof the certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

  Non-compliance with the provisions of Regulations 17(1), 18(1), 19(1), 19(2), 20(2), 20(2A), 21(2) and 17(2A) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to the composition of the Board of Directors and its Committees, quorum of the Board Meeting for the quarter ended March 31, 2026.MoreLess
• Tax disputeIncome Tax Deptt : Deputy Commissioner of Income Tax, Circle- 10(1), Delhi.Since 20 Apr 2021
  IREDA has received a favourable ITAT order dated 31.12.25 (for AY 2010-11 to AY 2018-19, except AY 2014-15) in which all the grounds of IREDA have been allowed while all the grounds of the I.T. Deptt. have been dismissed. The appeal effect of the same is awaitedMoreLess
  At the filing before: IREDA has received a favourable ITAT order dated 31.12.25 , in which all the grounds of IREDA have been allowed while all the grounds of the I.T. Deptt. have been dismissed. The appeal effect of the same is awaited .MoreLess
• Tax disputeCommissioner (Adjudication), CGST, Delhi-East, New DelhiSince 15 Jun 2022
  Demand of service tax on liquidated damages under Section 66E(e) of the Finance Act, 1994, and differential amount between the profit & loss account and ST-3 returns for FY 2012-13 to 2015-16. ( approx Rs. 117 Cr.). Pending hearing .MoreLess

In the company's own words, from its latest governance filing.

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

No

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.