Inox Wind Energy (Delisted) MD, chairman, board of directors and AGM

BSE: 543297Electrical Equipment

Last traded ₹10,293.00 on 19 Jun 2025

Delisted on 16 Jan 2026.

Inox Wind Energy board of directors

At the end of the quarter to Mar 2025, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonSANJEEV JAIN
  • Company Secretary and Compliance OfficerUday Shankar Prasad

6 directors2 independent1 executive3 non-executive

  • DEVENDRA KUMAR JAINNon-executive · joined Mar 2020 · reappointed Mar 2020 · 3 listed boards · 3 committee seats, 2 as chair
  • VIVEK KUMAR JAINNon-executive · joined Mar 2020 · reappointed Mar 2020 · 2 listed boards · 5 committee seats, 1 as chair
  • SANJEEV JAIN · ChairpersonIndependent · joined Apr 2024 · reappointed Apr 2024 · 12 months as independent · 3 listed boards · 3 as independent · 5 committee seats, 4 as chair
  • DEVANSH JAINNon-executive · joined Feb 2021 · reappointed Feb 2021 · 2 listed boards · 7 committee seats
  • VANITA BHARGAVAIndependent · joined Mar 2020 · reappointed Mar 2025 · 61 months as independent · 4 listed boards · 4 as independent · 6 committee seats
  • KALLOL CHAKRABORTYExecutive · joined Dec 2022 · reappointed Dec 2024 · 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.

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 31 Jan 20255 of 6 present2 independent · 62 days in between
    • 29 Nov 20243 of 6 present2 independent · 34 days in between
    • 25 Oct 20244 of 6 present2 independent

  • Audit Committee

    Chair SANJEEV JAIN

    DEVANSH JAIN, VANITA BHARGAVA

    • 31 Jan 20252 of 3 present2 independent · 62 days in between
    • 25 Oct 20243 of 3 present2 independent

  • Nomination and remuneration committee

    Chair VANITA BHARGAVA

    SANJEEV JAIN, DEVANSH JAIN

    • 31 Jan 20252 of 3 present2 independent
    • 29 Nov 20242 of 3 present2 independent · 34 days in between

  • Stakeholders Relationship Committee

    Chair VIVEK KUMAR JAIN

    DEVANSH JAIN, VANITA BHARGAVA

    • 25 Oct 20242 of 3 present1 independent

  • Risk Management Committee

    Chair KALLOL CHAKRABORTY

    DEVANSH JAIN, VANITA BHARGAVA

    • 5 Mar 20253 of 3 present1 independent · 32 days in between

  • Corporate Social Responsibility Committee

    Chair KALLOL CHAKRABORTY

    DEVANSH JAIN, VANITA BHARGAVA

    No meeting listed in the filing.

  • Business Responsibility & Sustainability Committee

    Chair KALLOL CHAKRABORTY

    DEVANSH JAIN, VIVEK KUMAR JAIN, Chief Financial Officer

    No meeting listed in the filing.

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 auditor

Named in the results for the quarter to Mar 2025.

  • Dewan P N Chopra & CoPeer-review certificate valid to Jan 2027

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.

Inox Wind Energy 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.Inox Wind Energy share news and announcements

Postal ballot, 30 May 2025

17,797 shareholders on the register on 25 Apr 2025; votes counted by S Samdani / Samdani Shah & Kabra.The company's voting result (opens in a new tab)

  1. Re-appointment of Ms. Vanita Bhargava (DIN: 07156852) as an Independent Director of the Company
    Special
    97.03% for2.97% against

    Against: promoters 0.00% · institutions 59.28% · other public 0.11%

    Turnout: all 73.29% · promoters 100.00% · institutions 58.94% · other public 0.46%

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, 9 Jan 2025, 1 resolution

18,616 shareholders on the register on 6 Dec 2024; votes counted by S. Samdani / Samdani Shah & Kabra.The company's voting result (opens in a new tab)

  1. Re-appointment of Mr. Kallol Chakraborty (DIN: 09807739) as a Whole-time Director of the Company
    Ordinary
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 19.98% · other public 0.00%

    Turnout: all 73.89% · promoters 100.00% · institutions 40.41% · other public 8.74%

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 Sep 2024, 3 resolutions

Present: 10 promoters and 55 others.The company's voting result (opens in a new tab)

  1. Adoption of Financial Statements: To receive, consider and adopt: a. Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2024, the reports of the Board of Directors and Auditors thereon; and b. Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2024 and the report of the Auditors thereon.MoreLess
    Ordinary
    99.78% for0.22% against

    Against: promoters 0.00% · institutions 9.39% · other public 0.00%

    Turnout: all 79.77% · promoters 100.00% · institutions 43.04% · other public 32.10%

  2. Appointment of a Director in place of Mr. Devansh Jain (DIN: 01819331) who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 3.02% · other public 0.00%

    Turnout: all 79.77% · promoters 100.00% · institutions 43.04% · other public 32.10%

  3. Approval of Material Related Party Transactions
    OrdinaryPromoters have an interest in it
    94.00% for6.00% against

    Against: promoters 0.00% · institutions 32.84% · other public 0.00%

    Turnout: all 10.27% · promoters 0.00% · institutions 43.04% · other public 32.10%

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.

Extraordinary general meeting, 27 Jun 2024, 1 resolution

Present: 13 promoters and 48 others.The company's voting result (opens in a new tab)

  1. Approval of Material Related Party Transactions
    OrdinaryPromoters have an interest in it
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 3.51% · other public 0.00%

    Turnout: all 9.88% · promoters 0.00% · institutions 14.08% · other public 35.10%

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.

Meeting called by the tribunal, 1 Jun 2024, 2 resolutions

Present: 13 promoters and 60 others.The company's voting result (opens in a new tab)

  1. Approval for the Scheme of Arrangement between Inox Wind Energy Limited (“Company”/ “Transferor Company”) and Inox Wind Limited (“Transferee Company”)
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 82.87% · promoters 100.00% · institutions 52.42% · other public 42.72%

  2. Approval for the Scheme of Arrangement between Inox Wind Energy Limited (“Company”/ “Transferor Company”) and Inox Wind Limited (“Transferee Company”)
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 13.36% · promoters 0.00% · institutions 52.42% · other public 42.72%

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, 5 May 2024, 1 resolution

The company's voting result (opens in a new tab)

  1. Appointment of Shri Sanjeev Jain (DIN: 00023409) as an Independent Director of the Company.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 74.81% · promoters 100.00% · institutions 51.59% · other public 12.94%

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.

Extraordinary general meeting, 1 Dec 2023, 1 resolution

Present: 13 promoters and 29 others.The company's voting result (opens in a new tab)

  1. Approval of Material Related Party Transactions.
    OrdinaryPromoters have an interest in it
    99.89% for0.11% against

    Against: promoters 0.00% · institutions 0.41% · other public 0.01%

    Turnout: all 13.26% · promoters 0.00% · institutions 56.09% · other public 40.16%

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.

Extraordinary general meeting, 25 Oct 2023, 1 resolution

Present: 13 promoters and 32 others.The company's voting result (opens in a new tab)

  1. Approval for divestments of shares of Inox Wind Limited, a material subsidiary.
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.00%

    Turnout: all 72.27% · promoters 100.00% · institutions 20.40% · other public 5.78%

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.

Mutual fund votes, meeting of 30 May 2025, 3 fund houses

  • Re-appointment of Ms. Vanita Bhargava (DIN: 07156852) as an Independent Director of the Company
    Against Bandhan Mutual Fund, ICICI Prudential Mutual Fund, Taurus Mutual Fund
    • Bandhan Mutual FundNo concern on the merit of proposed appointee. Non-Compliance: Re-appointment is not in accordance with law, prior approval of shareholders not obtained for re-appointment as an ID. Governance Concern: Re-appointment as an ID for a period of only one year; The proposed term will lead to prolonged association.
    • ICICI Prudential Mutual FundMs. Vanita Bhargava was an Independent Director at GFL Limited – a Inox group company, from 28 April 2015 to 27 April 2025. Given her long term association with the group company, the AMC does not support her reappointment.Hence, the AMC has voted against the resolution. For this proposal, the AMC has also considered various applicable factors for casting votes on behalf of ESG schemes.
    • Taurus Mutual FundMs. Vanita Bhargava, 51, is a Commerce and Law graduate from Delhi University and a partner in the Dispute Resolution Group of Khaitan & Co, New Delhi. Ms Vanita Bhargava has 21 years of experience as a practicing advocate at the Supreme Court, High Court, Company Law Board, National Green Tribunal, Mining Tribunal, Consumer Forums and its Appellate Authorities. She has attended all seven board meetings held in FY25. Although her reappointment meets regulatory requirements, she was an Independent Director on GFL Limited – a Inox group company, for ten years from 28 April 2015 to 27 April 2025. We do not support the appointment of Independent Directors if their aggregate tenure with the company or the promoter group is more than ten years as we believe that this is not in line with the spirit of the regulations. We understand Khaitan & Co have been legal advisers to Inox Group in the recent past. Public sources indicate that Khaitan & Co. have advised the Inox group on several matters including on the merger of Inox into PVR, Inox Green Energy Services on the acquisition of I-Fox Windtechnik India Pvt Ltd, as Legal Counsel in the IPO of Inox Green Energy Services Limited, transaction Counsel to Gujarat Fluorochemicals Limited for the issuance of NCDs, etc creating a potential conflict of interest. Further, we believe shareholder approval for her reappointment should have been sought on or before the completion of her first term as Independent Director which is before 6 March 2025.We do not support the resolution.
    0 for3 against

Mutual fund votes, meeting of 9 Jan 2025, 3 fund houses

  • Re-appointment of Mr. Kallol Chakraborty (DIN: 09807739) as a Whole-time Director of the Company
    Against Taurus Mutual Fund
    • Taurus Mutual FundKallol Chakraborty, 60, has been associated with the Inox GFL group since 2011 as Head (Corporate Human Resources). He is serving on the board of Inox Wind Energy (IWEL) since December 2022. As per public sources, he is currently Head of Group Corporate Human Resources of Gujarat Fluoro Chemicals Limited (Promoter Group company) & Inox Green Energy Services Limited, a 56.35% subsidiary of Inox Wind Limited (IWL). In FY24, he has not received remuneration from the company and the company seeks to reappoint him at nil remuneration. While we recognise the merger of IWEL into IWL is under progress, we are unable to support his reappointment. Kallol Chakraborty is a professional and we expect his remuneration to be benchmarked to market standards. However, there is no clarity on the source of his remuneration and his remuneration structure. We believe the Whole Time Director’s remuneration must be paid by the company and must be aligned to company performance. Further, being the Corporate HR head of two listed companies of the same group, we believe that multiple fulltime positions may not allow him to devote adequate time towards discharging his functions as the whole time Director of IWEL effectively. We believe professional executives must focus on driving performance in a single company. We do not support the resolution.
    2 for1 against
6 earlier meetings

Mutual fund votes, meeting of 27 Sep 2024, 3 fund houses

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

  • Adoption of Financial Statements: To receive, consider and adopt: a. Audited Standalone Financial Statements of the Company for the Financial Year ended 31st March, 2024, the reports of the Board of Directors and Auditors thereon; and b. Audited Consolidated Financial Statements of the Company for the Financial Year ended 31st March, 2024 and the report of the Auditors thereon.MoreLess
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundUnqualified Financial Statements. Non-Compliant with Companies Act, 2013 & SEBI LODR Regulations: The Company has not disclosed financials of subsidiary for FY 2023-24 on its website.
    1 for1 against
  • Appointment of a Director in place of Mr. Devansh Jain (DIN: 01819331) who retires by rotation and being eligible offers himself for re-appointment
    2 for0 against
  • Approval of Material Related Party Transactions
    Against Bandhan Mutual Fund
    • Bandhan Mutual FundCompliant with law. Transparency concern: Inadequate disclosures regarding the basis of arriving at arm’s length pricing.
    1 for1 against
3 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    1 for0 against
  • Item 2, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe proposed RPTs are for: (I) giving ICDs (upto Rs. 5.0 bn) and receiving back of ICDs with interest accrued (Upto RS. 5.0 bn) with Inox Wind Limited (Associate company; (II) availing / providing guarantees and securities upto Rs. 3.0 bn to Inox Leasing and Finance Limited: promoter of the company. In FY25, Inox Wind Limited became a 33.8% associate company (it was earlier a material subsidiary). Because it is no longer a subsidiary, we do not support extending financial support in the form of ICDs to Inox Wind Limited. Inox Leasing & Finance Limited is part of the promoter group – we do not support the extension of credit support to the company. The economic and strategic rationale for such support is unclear. The terms of financial and / or credit support are also unclear. Therefore, we are unable to support the resolution.
    0 for1 against
  • Item 3, as a fund house numbered it
    1 for0 against

Mutual fund votes, meeting of 27 Jun 2024, 1 fund house

  • Approval of Material Related Party Transactions
    1 for0 against

Mutual fund votes, meeting of 1 Jun 2024, 1 fund house

  • Approve merger of Inox Wind Energy Limited (IWEL) into and with Inox Wind Limited (IWL)
    1 for0 against

Mutual fund votes, meeting of 5 May 2024, 1 fund house

  • Appointment of Shri Sanjeev Jain (DIN: 00023409) as an Independent Director of the Company.
    1 for0 against

Mutual fund votes, meeting of 1 Dec 2023, 1 fund house

  • Approval of Material Related Party Transactions.
    1 for0 against

Mutual fund votes, meeting of 25 Oct 2023, 1 fund house

  • Approval for divestments of shares of Inox Wind Limited, a material subsidiary.
    1 for0 against

Each fund house counted once, from its own disclosure; the reasons are its own words.

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

None open at any quarter's end.
The board is made up as the listing rules require
Yes
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
No
The filing has a part on tax disputes
No
There was a cyber security incident in the quarter
No

The company's own answers in its filing.