Le Travenues Technology CEO, MD, chairman, board of directors and AGM
NSE: IXIGOBSE: 544192Leisure ServicesSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹148.99.
- 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.
- ₹6,465 Cr627th 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 17 Oct 2026
- 43.2
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: 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, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹38 crore of one-off items, the largest of them in the quarter to Sep 2026.
- 57.8
- 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 17 Oct 2026
- 3.0
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- 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 17 Oct 2026
- 10.5%
- ROE without one-offsReturn on equity without one-off items. Core profit, 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 less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹38 crore of one-off items, the largest of them in the quarter to Sep 2026.
- 7.8%
- 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 17 Oct 2026
- 3.4%
- 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 Sep 2026. The filing of 17 Oct 2026
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 22,25,08428.3% delivered
Le Travenues Technology board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- Chairperson and managing director and CEOAloke Bajpai
- Company Secretary and Compliance OfficerSuresh Kumar Bhutani
9 directors5 independent1 executive3 non-executive
- Aloke Bajpai · Chairperson and managing director and CEOExecutive · joined Jun 2006 · reappointed May 2026 · 1 listed board · 2 committee seats
- Rajnish Kumar BenedictNon-executive · joined Apr 2010 · 1 listed board
- Shailesh LakhaniNon-executive · joined Oct 2016 · 1 listed board · 2 committee seats
- Frederic LalondeNon-executive · joined Jul 2021 · 1 listed board
- Arun SethIndependent · joined Jul 2021 · reappointed Jul 2024 · 62 months as independent · 4 listed boards · 4 as independent · 10 committee seats, 5 as chair
- Mahendra Pratap MallIndependent · joined Jul 2021 · reappointed Jul 2024 · 62 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
- Rahul PanditIndependent · joined Jul 2021 · reappointed Jul 2024 · 62 months as independent · 2 listed boards · 1 as independent · 2 committee seats
- Rajesh SawhneyIndependent · joined Jul 2021 · reappointed Jul 2024 · 62 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
- Shuba Rao MayyaIndependent · joined Jul 2021 · reappointed Jul 2024 · 62 months as independent · 3 listed boards · 3 as independent · 7 committee seats, 3 as chair
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
- 6 Aug 20269 of 9 present5 independent · 13 days in between
- 23 Jul 20268 of 9 present5 independent · 47 days in between
- 5 Jun 20269 of 9 present5 independent · 14 days in between
- 21 May 20269 of 9 present5 independent
Audit Committee
Chair Mahendra Pratap Mall
Arun Seth, Shuba Rao Mayya, Rahul Pandit, Rajesh Sawhney, Aloke Bajpai, Shailesh Lakhani
- 6 Aug 20267 of 7 present5 independent · 76 days in between
- 21 May 20267 of 7 present5 independent
Nomination and remuneration committee
Chair Arun Seth
Shuba Rao Mayya, Rahul Pandit, Rajesh Sawhney, Shailesh Lakhani
- 6 Aug 20265 of 5 present4 independent · 76 days in between
- 21 May 20264 of 5 present4 independent
Stakeholders Relationship Committee
Chair Rajesh Sawhney
Shuba Rao Mayya, Aloke Bajpai, Shailesh Lakhani
- 21 May 20264 of 4 present2 independent
Risk Management Committee
Chair Aloke Bajpai
Shailesh Lakhani, Mahendra Pratap Mall, Saurabh Devendra Singh
No meeting listed in the filing.
Corporate Social Responsibility Committee
Chair Aloke Bajpai
Rajnish Kumar Benedict, Arun Seth, Frederic Lalonde, Shailesh Lakhani
No meeting listed in the filing.
Banking and Finance Committee
Chair Aloke Bajpai
Rajnish Kumar Benedict, Shailesh Lakhani, Mahendra Pratap Mall
No meeting listed in the filing.
Board Investment Committee
Chair Aloke Bajpai
Rajnish Kumar Benedict, Shailesh Lakhani, Rajesh Sawhney
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 2026.
- S.R. Batliboi & Associates LLPPeer-review certificate valid to Jul 2027
1 earlier auditor
- SR Batliboi and Associates 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.
Le Travenues Technology 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.Le Travenues Technology share news and announcements
Annual general meeting, 30 Sep 2026
79,273 shareholders on the register on 23 Sep 2026; present: 0 promoters and 68 others; votes counted by Suryakant Gupta / Surya Gupta & Associates.The company's voting result (opens in a new tab)
Adoption of the Financial Statements: a. the audited standalone financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, together with the report of the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
- Appointment of a director in place of Mr. Frederic Lalonde (DIN: 00739136), who retires by rotation, and being eligible, offers himself for re-appointmentOrdinary80.91% for19.09% against
Against: promoters 0.00% · institutions 46.60% · other public 0.13%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
- Increase in the Authorised Share Capital and consequent alteration to the Capital Clause of the Memorandum of AssociationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
- Approval for enhancement of the borrowing limits pursuant to Section 180(1)(c) of the Companies Act, 2013Special93.33% for6.67% against
Against: promoters 0.00% · institutions 16.29% · other public 0.03%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
- Approval for creation of security on the assets in connection with borrowings under Section 180(1)(a) of the Companies Act, 2013Special99.53% for0.47% against
Against: promoters 0.00% · institutions 1.11% · other public 0.03%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
- Approval for making loans, investments, providing guarantees and/or securities in excess of the limits prescribed under Section 186 of the Companies Act, 2013Special77.43% for22.57% against
Against: promoters 0.00% · institutions 55.25% · other public 0.03%
Turnout: all 88.59% · promoters 0.00% · institutions 92.52% · other public 86.06%
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 Nov 2025, 3 resolutions
91,286 shareholders on the register on 25 Oct 2025; present: 0 promoters and 67 others; votes counted by Suryakant Gupta / Surya Gupta & Associates.The company's voting result (opens in a new tab)
- Offer, issuance and allotment of equity shares on a private placement / preferential basisSpecial99.16% for0.84% against
Against: promoters 0.00% · institutions 1.21% · other public 0.00%
Turnout: all 84.29% · promoters 0.00% · institutions 92.76% · other public 69.71%
Amendments / alterations to the Articles of Association of Le Travenues Technology Limited and grant of special rights to an identified shareholder pursuant to Regulation 31B of the SEBI Listing RegulationsMoreLess
Special99.16% for0.84% againstAgainst: promoters 0.00% · institutions 1.21% · other public 0.00%
Turnout: all 84.29% · promoters 0.00% · institutions 92.76% · other public 69.71%
Amendments / alterations to the Articles of Association of Le Travenues Technology Limited by deletion of any references to “Part A” and deletion of the third paragraph having references to Part A and Part B, in “Section I - APPLICABILITY OF TABLE F”MoreLess
Special99.43% for0.57% againstAgainst: promoters 0.00% · institutions 0.82% · other public 0.00%
Turnout: all 84.29% · promoters 0.00% · institutions 92.76% · other public 69.71%
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, 24 Sep 2025, 6 resolutions
89,639 shareholders on the register on 17 Sep 2025; present: 0 promoters and 55 others; votes counted by Suryakant Gupta / Surya Gupta & Associates.The company's voting result (opens in a new tab)
Adoption of the Financial Statements: a. the audited standalone financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, together with the report of the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.29% · promoters 0.00% · institutions 93.86% · other public 66.40%
- Appointment of a director in place of Mr. Rajnish Kumar (DIN: 02834454), who retires by rotation, and being eligible, offers himself for re-appointmentOrdinary99.82% for0.18% against
Against: promoters 0.00% · institutions 0.24% · other public 0.00%
Turnout: all 85.40% · promoters 0.00% · institutions 94.03% · other public 66.40%
- Re-appointment of S.R. Batliboi & Associates LLP (ICAI Firm Registration No. 101049W/E300004) as the Statutory Auditors and fixing of their remunerationOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.03% · other public 0.00%
Turnout: all 85.40% · promoters 0.00% · institutions 94.03% · other public 66.40%
- Payment of remuneration to Mr. Aloke Bajpai (DIN: 00119037), Chairman, Managing Director and Group CEO from October 01, 2025, till May 23, 2026Special89.27% for10.73% against
Against: promoters 0.00% · institutions 14.17% · other public 0.00%
Turnout: all 85.40% · promoters 0.00% · institutions 94.03% · other public 66.40%
- Re-appointment of Mr. Aloke Bajpai (DIN: 00119037) as Chairman, Managing Director and Group CEO and approval for payment of remunerationSpecial90.02% for9.98% against
Against: promoters 0.00% · institutions 13.18% · other public 0.00%
Turnout: all 85.40% · promoters 0.00% · institutions 94.03% · other public 66.40%
- Appointment of DPV & Associates LLP, Company Secretaries (ICSI Firm Registration No. L2021HR009500) as Secretarial Auditor and fixing of their remunerationOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.38% · promoters 0.00% · institutions 94.00% · other public 66.40%
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, 17 Apr 2025, 3 resolutions
88,821 shareholders on the register on 14 Mar 2025; votes counted by Suryakant Gupta / Surya Gupta & Associates.The company's voting result (opens in a new tab)
- Approval for formulation, adoption, and implementation of Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”)Special90.94% for9.06% against
Against: promoters 0.00% · institutions 12.07% · other public 0.00%
Turnout: all 88.05% · promoters 0.00% · institutions 95.62% · other public 71.11%
- Approval for extending the benefit under Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”) to the employees of subsidiariesSpecial90.94% for9.06% against
Against: promoters 0.00% · institutions 12.07% · other public 0.00%
Turnout: all 88.05% · promoters 0.00% · institutions 95.62% · other public 71.11%
Approval for Grant of Options equal to or more than 1% of the issued capital of Le Travenues Technology Limited to identified employees under Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”)MoreLess
Special90.64% for9.36% againstAgainst: promoters 0.00% · institutions 12.47% · other public 0.00%
Turnout: all 88.05% · promoters 0.00% · institutions 95.62% · other public 71.11%
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 Sep 2024, 14 resolutions
Present: 0 promoters and 72 others.The company's voting result (opens in a new tab)
1 - Adoption of Financial Statements:na.tthe audited standalone financial statements of the Company for the financial year ended March 31, 2024 together with the reports of the Directors and Auditors thereon; and nb.tthe audited consolidated financial statements of the Company for the financial year ended March 31, 2024 together with the report of the Auditors thereon.MoreLess
Ordinary100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 2 - To appoint a director in place of Mr. Shailesh Lakhani (DIN: 03567739), who retires by rotation, and being eligible, offers himself for re-appointment.Ordinary98.15% for1.85% against
Against: promoters 0.00% · institutions 2.52% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 3 - Re-appointment of Mr. Arun Seth (DIN: 00204434) as an Independent Director.Special96.18% for3.82% against
Against: promoters 0.00% · institutions 5.21% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 4 - Re-appointment of Mr. Mahendra Pratap Mall (DIN: 02316235) as an Independent Director.Special100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 5 - Re-appointment of Mr. Rahul Pandit (DIN: 00003036) as an Independent Director.Special98.15% for1.85% against
Against: promoters 0.00% · institutions 2.52% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 6 - Re-appointment of Mr. Rajesh Sawhney (DIN: 01519511) as an Independent Director.Special98.15% for1.85% against
Against: promoters 0.00% · institutions 2.52% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 7 - Re-appointment of Ms. Shuba Rao Mayya (DIN: 08193276) as an Independent Director.Special98.15% for1.85% against
Against: promoters 0.00% · institutions 2.52% · other public 0.00%
Turnout: all 82.34% · promoters 0.00% · institutions 88.30% · other public 69.48%
- 8 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2012 (“ESOS 2012”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 9 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2013 (“ESOS 2013”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 10 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2016 (“ESOS 2016”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 11 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2020 (“ESOS 2020”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 12 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2021 (“ESOS 2021”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 13 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2024 (“ESOS 2024”)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
- 14 - Ratification for extension of benefits under Le Travenues Technology - Employees Stock Option Scheme 2024 (“ESOS 2024”) to the employees of subsidiaries / holding companies (present / future)Special90.22% for9.78% against
Against: promoters 0.00% · institutions 14.25% · other public 0.00%
Turnout: all 70.18% · promoters 0.00% · institutions 70.50% · other public 69.48%
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 30 Sep 2026, 3 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.
Adoption of the Financial Statements: a. the audited standalone financial statements of the Company for the financial year ended March 31, 2026, together with the reports of the Board and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, together with the report of the Auditors thereon.MoreLess
3 for0 against- Appointment of a director in place of Mr. Frederic Lalonde (DIN: 00739136), who retires by rotation, and being eligible, offers himself for re-appointment
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance Concern: Low Attendance.
2 for1 against - Increase in the Authorised Share Capital and consequent alteration to the Capital Clause of the Memorandum of Association3 for0 against
- Approval for enhancement of the borrowing limits pursuant to Section 180(1)(c) of the Companies Act, 20131 for0 against
- Approval for creation of security on the assets in connection with borrowings under Section 180(1)(a) of the Companies Act, 2013
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance & Transparency concern: Proposed borrowing limit is significantly high as compared to the Company’s current borrowings; Inadequate justification provided for the proposed limit.
2 for1 against - Approval for making loans, investments, providing guarantees and/or securities in excess of the limits prescribed under Section 186 of the Companies Act, 2013
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance & Transparency Concern: The Company is seeking an enabling approval for transactions beyond the Section 186 limits without adequate disclosure of full particulars of loans / investments / guarantees / securities to be undertaken
2 for1 against
1 proposal not matched to one resolution
To borrow money on behalf of the Company, from time to time, from one or more of the banks, financial institutions, institutional investors, mutual funds, insurance companies, pension funds, individuals, firms, companies, bodies corporate, any other person or entity, denominated in Indian or foreign currency, notwithstanding that the monies to be borrowed together with the monies already borrowed by the Company (apart from temporary loans obtained or to be obtained from the Company’s bankers in the ordinary course of business) may exceed the aggregate paid-up share capital of the Company, free reserves (that is to say reserves not set apart for any specific purpose) and securities premium of the Company, provided that the total amount so borrowed by the Board within the meaning of Section 180(1)(c) of the Act shall not, at any time, exceed Rs. 50,000,000,000.MoreLess
Against Angel One Mutual Fund
- Angel One Mutual FundGovernance & Transparency concern: Proposed borrowing limit is significantly high as compared to the Company’s current borrowings; Inadequate justification provided for the proposed limit.
1 for1 against
Mutual fund votes, meeting of 1 Nov 2025, 14 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Offer, issuance and allotment of equity shares on a private placement / preferential basis
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: No clarity regarding the basis behind selecting the proposed allottee. Significant dilution and No justification for not opting for rights issue.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: No clarity regarding the basis behind selecting the proposed allottee. Significant dilution and No justification for not opting for rights issue.
10 for4 against Amendments / alterations to the Articles of Association of Le Travenues Technology Limited and grant of special rights to an identified shareholder pursuant to Regulation 31B of the SEBI Listing RegulationsMoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundGovernance Concern: No concern identified with regard to the rights proposed per-se. However, since concerns are identified with regard to the underlying preferential issue based on which the proposed rights are being granted, the legitimacy of the right itself becomes questionable.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: No concern identified with regard to the rights proposed per-se. However, since concerns are identified with regard to the underlying preferential issue based on which the proposed rights are being granted, the legitimacy of the right itself becomes questionable
9 for4 againstAmendments / alterations to the Articles of Association of Le Travenues Technology Limited by deletion of any references to “Part A” and deletion of the third paragraph having references to Part A and Part B, in “Section I - APPLICABILITY OF TABLE F”MoreLess
14 for0 against
1 proposal not matched to one resolution
- Item 2, as a fund house numbered it1 for0 against
3 earlier meetings
Mutual fund votes, meeting of 24 Sep 2025, 13 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
Adoption of the Financial Statements: a. the audited standalone financial statements of the Company for the financial year ended March 31, 2025, together with the reports of the Board and Auditors thereon; and b. the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, together with the report of the Auditors thereon.MoreLess
12 for0 against- Appointment of a director in place of Mr. Rajnish Kumar (DIN: 02834454), who retires by rotation, and being eligible, offers himself for re-appointment12 for0 against
- Re-appointment of S.R. Batliboi & Associates LLP (ICAI Firm Registration No. 101049W/E300004) as the Statutory Auditors and fixing of their remuneration12 for0 against
- Payment of remuneration to Mr. Aloke Bajpai (DIN: 00119037), Chairman, Managing Director and Group CEO from October 01, 2025, till May 23, 2026
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundHolds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern identified on the merits of proposed director. Governance Concern: Holds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual.
8 for4 against - Re-appointment of Mr. Aloke Bajpai (DIN: 00119037) as Chairman, Managing Director and Group CEO and approval for payment of remuneration
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
- Angel One Mutual FundHolds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern identified on the merits of proposed director. Governance Concern: Holds combined position of Chairman and Managing Director, which may result in concentration of power in the hands of single individual.
8 for4 against - Appointment of DPV & Associates LLP, Company Secretaries (ICSI Firm Registration No. L2021HR009500) as Secretarial Auditor and fixing of their remuneration12 for0 against
6 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 it
Against Taurus Mutual Fund
- Taurus Mutual FundAloke Bajpai, 45, is the Co-founder, Chairperson, Managing Director and Group Chief Executive Officer. He has been on the board of the company since 3 June 2006. He received Rs 32.0 mn and Rs. 17.2 mn as remuneration in FY24 and FY25 respectively, excluding stock options. As per the remuneration terms, he is entitled to a fixed pay of Rs. 17.25 mn per annum and performance incentives ranging from Rs 4.0 mn to Rs 40.0 mn per annum. In May 2025, he was granted 6,000,000 stock options, 50% of the entire stock option pool and 1.5% of the outstanding share capital, under the stock option scheme 2025. The fair value of this grant aggregates Rs. 646.8 mn, which is high. His remuneration is high for the size of the company and not in line with peers. Further, there is no guidance on the number of stock options to be granted to him over his remaining tenure. In the absence of this, we are unable to estimate his proposed remuneration. The company should disclose the quantum of stock options that he is eligible to receive over the remainder of his tenure and cap his remuneration in absolute terms. The company must also disclose the performance metrics that determine the performance linked incentive. Given these reasons, we do not support the resolution.
0 for1 against - Item 5, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundAloke Bajpai, 45, is the Co-founder, Chairperson, Managing Director and Group Chief Executive Officer. He has been on the board of the company since 3 June 2006. He has completed his bachelor’s degree in technology from IIT Kanpur and MBA from INSEAD. He received Rs 32.0 mn and Rs. 17.2 mn as remuneration in FY24 and FY25 respectively, excluding stock options. As per the remuneration terms, he is entitled to a fixed pay of Rs. 20.0 mn per annum and performance incentives ranging from Rs 4.0 mn to Rs 40.0 mn per annum. In May 2025, he was granted 6,000,000 stock options, 50% of the entire stock option pool and 1.5% of the outstanding share capital, under the stock option scheme 2025. The fair value of this grant aggregates Rs. 646.8 mn, which is high. His remuneration is high for the size of the company and not in line with peers. Further, there is no guidance on the number of stock options to be granted to him over his remaining tenure. In the absence of this, we are unable to estimate his proposed remuneration. The company should disclose the quantum of stock options that he is eligible to receive over the remainder of his tenure and cap his remuneration in absolute terms. The company must also disclose the performance metrics that determine the performance linked incentive. Given these reasons, we do not support the resolution.
0 for1 against - Item 6, as a fund house numbered it1 for0 against
Mutual fund votes, meeting of 17 Apr 2025, 11 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
- Approval for formulation, adoption, and implementation of Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”)
Against HDFC Mutual Fund, Mirae Asset Mutual Fund
- HDFC Mutual FundExercise price of the ESOP is at a great discount to current market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
7 for2 against - Approval for extending the benefit under Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”) to the employees of subsidiaries
Against HDFC Mutual Fund, Mirae Asset Mutual Fund
- HDFC Mutual FundExercise price of the ESOP is at a great discount to current market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
7 for2 against Approval for Grant of Options equal to or more than 1% of the issued capital of Le Travenues Technology Limited to identified employees under Le Travenues Technology - Employees Stock Option Scheme 2025 (“ESOS 2025”)MoreLess
Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, PGIM India Mutual Fund, Taurus Mutual Fund
- Angel One Mutual FundGovernance Concern: Vesting Criteria linked to Market Cap. No cap on the total Options to be granted to the two select Employees. Transparency concern: No adequate justification/ clarity as to the selection of Employees.
- Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: Vesting Criteria linked to Market Cap. No cap on the total Options to be granted to the two select Employees. No adequate justification/ clarity as to the selection of Employees.
- HDFC Mutual FundExercise price of the ESOP is at a great discount to current market price. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We do not support the resolution.
- Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
- PGIM India Mutual FundVesting Condition linked to Market Cap. No cap on total options to be granted to the two Employees. No adequate justification/ clarity as to the selection of Employees.
- Taurus Mutual FundThe vesting is linked to reaching market capitalization thresholds – we do not support schemes that carry standalone market capitalization-based performance vesting – companies must use relative stock price performance against peers or indices. Further, the company has not capped the quantum/ value of stock options that may be granted – we do not support such enabling resolutions that deprive shareholders of taking informed decisions. Further, 1% or more of issued capital to Aloke Bajpai and Rajnish Kumar will constitute more than 65% of the pool size under ESOP 2025. We do not favour such ESOP schemes where the distribution is skewed towards the board/senior management. We believe ESOPs should motivate and reward a broad base of employees rather than disproportionately benefiting a small group at the top. Further, our view on this resolution is linked to our view on resolution #1. Given these reasons, we do not support the resolution.
3 for8 against
4 proposals not matched to one resolution
- Item 1, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundThe overall dilution of the scheme for 12,000,000 options is ~3.0% on the expanded capital base as on 31 December 2024. The vesting of options is primarily time based. As per the notice, the options will be granted at an exercise price of Rs. 93.0 per option. This will represent a 33.6% discount to the current market price of Rs. 140.13 as on 26 March 2025. We do not favour schemes where the exercise price is at a significant discount (>20%) to the market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies must grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 2, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundThrough resolution #2, the company proposes to extend the ESOP Scheme 2025 to the employees of its subsidiary companies (present or future). Our view on this resolution is linked to our view on resolution #1.
0 for1 against - 1) Approve ‘Le Travenues Technology - Employee Stock Option Scheme 2025’ under which upto 12,000,000 stock options can be granted.1 for0 against
- 2) Approve extension of ‘Le Travenues Technology - Employee Stock Option Scheme 2025’ to the employees of subsidiary companies (present and future).1 for0 against
Mutual fund votes, meeting of 30 Sep 2024, 5 fund houses
Each resolution counts the houses whose vote was matched to it; the rest are listed last.
1 - Adoption of Financial Statements:na.tthe audited standalone financial statements of the Company for the financial year ended March 31, 2024 together with the reports of the Directors and Auditors thereon; and nb.tthe audited consolidated financial statements of the Company for the financial year ended March 31, 2024 together with the report of the Auditors thereon.MoreLess
4 for0 against- 2 - To appoint a director in place of Mr. Shailesh Lakhani (DIN: 03567739), who retires by rotation, and being eligible, offers himself for re-appointment.4 for0 against
- 3 - Re-appointment of Mr. Arun Seth (DIN: 00204434) as an Independent Director.4 for0 against
- 4 - Re-appointment of Mr. Mahendra Pratap Mall (DIN: 02316235) as an Independent Director.4 for0 against
- 5 - Re-appointment of Mr. Rahul Pandit (DIN: 00003036) as an Independent Director.4 for0 against
- 6 - Re-appointment of Mr. Rajesh Sawhney (DIN: 01519511) as an Independent Director.4 for0 against
- 7 - Re-appointment of Ms. Shuba Rao Mayya (DIN: 08193276) as an Independent Director.5 for0 against
- 8 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2012 (“ESOS 2012”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 9 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2013 (“ESOS 2013”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 10 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2016 (“ESOS 2016”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 11 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2020 (“ESOS 2020”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 12 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2021 (“ESOS 2021”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 13 - Ratification of Le Travenues Technology - Employee Stock Option Scheme 2024 (“ESOS 2024”)
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
3 for1 against - 14 - Ratification for extension of benefits under Le Travenues Technology - Employees Stock Option Scheme 2024 (“ESOS 2024”) to the employees of subsidiaries / holding companies (present / future)
Against HDFC Mutual Fund, Taurus Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
- Taurus Mutual FundThrough resolution #14, the company proposes to extend the ESOP Scheme 2024 to the employees of its subsidiary companies. While we support the extension of stock options to employees of unlisted subsidiaries, our view on this resolution is linked to our view on resolution #13.
3 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 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 8, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 634,668 options have been granted pre-IPO while 76,532 options are yet to be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the Nomination and Remuneration Committee (NRC) has the discretion to allow a discount to the market price. We note that in the past, options were granted at an exercise price as low as Rs. 1.25 which is almost equal to the face value. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 9, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 1,500,504 options have been granted pre-IPO while 466,687 options are yet to be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the Nomination and Remuneration Committee (NRC) has the discretion to allow a discount to the market price. We note that in the past, options were granted at an exercise price as low as Rs. 1.25 which is almost equal to the face value. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 10, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 1,139,767 options have been granted pre-IPO while 158,333 options are yet to be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the Nomination and Remuneration Committee (NRC) has the discretion to allow a discount to the market price. We note that in the past, options were granted at an exercise price as low as Rs. 1.25 which is almost equal to the face value. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 11, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 408,438 options have been granted pre-IPO while 24,962 options are yet to be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the Nomination and Remuneration Committee (NRC) has the discretion to allow a discount to the market price. We note that in the past, options were granted at an exercise price as low as Rs. 1.25 which is almost equal to the face value. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 12, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 5,472,845 options have been granted pre-IPO while 643,719 options are yet to be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the Nomination and Remuneration Committee (NRC) has the discretion to allow a discount to the market price. We note that in the past, options were granted at an exercise price as low as Rs. 1.25 which is almost equal to the face value. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against - Item 13, as a fund house numbered it
Against Taurus Mutual Fund
- Taurus Mutual FundUnder the scheme, 1,900,000 options may be granted. The total dilution on the expanded capital base, considering all the stock options schemes, for which approval is being sought, is ~3.1%. The vesting of options is primarily time based. While the notice states that the options will be granted at market price, the NRC has the discretion to allow a discount to the market price. If options are granted at face value, it will represent a 98% discount to CMP of Rs. 147.2 as on 19 September 2024. We do not favour schemes where the exercise price is at a significant discount (>20%) to market price.ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to market price. If the stock options are granted at a significant discount, there is no alignment between the interests of investors and those of employees. Companies should grant stock options at market price, or the options should have performance-based vesting with clearly defined performance metrics. We do not support the resolution.
0 for1 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Tax disputes and stakes in unlisted companies
Reported in the filing for the quarter to Sep 2026.
- Unlisted stake boughtForgeurai Systems Private LimitedSince 2 Jul 2026
23.17% bought in the quarter; holding 23.17%, from 0.00%
- Unlisted stake boughtBrevistay Hospitality Private LimitedSince 12 Aug 2026
54.60% bought in the quarter; holding 54.60%, from 0.00%
- Unlisted stake boughtZoop Web Services Private LimitedSince 17 Aug 2026
11.00% bought in the quarter; holding 73.00%, from 62.00%
- Unlisted stake heldIXIGO PTE. LTD.Since 28 Sep 2026
0.00% bought in the quarter; holding 100.00%, from 100.00%
- Tax disputeOffice of the Assistant Commissioner of Commercial Taxes (Audit), Bangalore, Government of KarnatakaSince 31 Dec 2025The appeal was heard on July 23, 2026, and the order is awaited.
At the filing before: The Company received a Show Cause Notice dated September 30, 2025, from the Office of the Assistant Commissioner of Commercial Taxes (Audit), Bangalore, alleging short payment of GST under the KGST/CGST and IGST Acts, 2017, along with interest and penalty for FY 2021-22. The notice alleged incorrect declaration of tax liability in GST returns. The Company operates an online platform for bus ticket booking and, as an e-commerce operator, discharges GST at 5% on passenger transportation services in accordance with Section 9(5) of the CGST Act (HSN 996422). The Company is also registered under other HSN codes relating to IT-enabled and online advertisement services, which attract GST at 18%. The tax authorities contended that the higher rate of 18% was applicable to passenger transportation services as well. The Company had represented against the Show Cause Notice dated September 30, 2025, pursuant to such representations, the tax authorities did not proceed with the demand as proposed in the said Show Cause Notice and, instead, issued a separate demand by revising the turnover attributable to the Karnataka e-commerce operator registration. Accordingly, the original allegations were effectively dropped, and a demand of INR 25.29 Lakhs was raised, comprising GST of INR 14.25 Lakhs, interest of INR 9.62 Lakhs, and penalty of INR 1.42 Lakhs. The Company believed that it had a strong case on merits against the demand order and had filed an appeal with the Office of the Joint Commissioner of Commercial Taxes in Karnataka on March 28, 2026.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
- 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
- Yes
- The filing has a part on fines and penalties
- No
- 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.
How money raised was used
Reported for the quarter to Sep 2026. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.
| Raised | Amount raised | For | Set aside | Spent | Spent elsewhere |
|---|---|---|---|---|---|
| Preferential IssuesDec 2025, checked by CARE Ratings Limited | 1,295.56 | – | – | No |