Monsanto India (Delisted) MD, chairman, board of directors and AGM

BSE: 524084

Formerly Monsanto Chemicals of India

Last traded ₹2,232.65 on 26 Sep 2019

Delisted on 27 May 2020.

Monsanto India 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.Monsanto India share news and announcements

Annual general meeting, 4 Jul 2019

Present: 4 promoters and 89 others.The company's voting result (opens in a new tab)

Adoption of Financial Statements for the year ended March 31, 2019
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Declaration of final dividend on equity shares
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Reappointment of Mr. Bangla Bose Radha Krishna Mallipeddi who retires by rotation
Ordinary
99.76% for0.24% against
Against: promoters 0.00% · institutions 8.89% · other public 0.17%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Confirmation of Mr. Ravishankar Cherukuri as a Director
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Confirmation of appointment of Mr. Ravishankar Cherukuri as a Managing Director
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Confirmation of appointment of Ms. Aarti Arun Sathe as a Non-Executive Independent Director
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.17%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Approval of Related Party Transactions with holding company, Monsanto Company, USA
OrdinaryPromoters have an interest in it
97.85% for2.15% against
Against: promoters 0.00% · institutions 82.34% · other public 0.17%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Payment of Commission to Non-Executive Directors
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Ratification of remuneration payable to the Cost Auditors for the financial year ending March 31, 2020
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%
Shifting of Registered Office of the Company
Special
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.03%
Turnout: all 85.60% · promoters 100.00% · institutions 92.41% · other public 9.71%

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.

Meeting called by the tribunal, 4 Jun 2019, 1 resolution

Present: 4 promoters and 52 others.The company's voting result (opens in a new tab)

Approval of the Scheme of Amalgamation of Monsanto India Limited with Bayer CropScience Limited and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act 2013MoreLess
Special
99.93% for0.07% against
Against: promoters 0.00% · institutions 0.00% · other public 1.11%
Turnout: all 90.24% · promoters 100.00% · institutions 92.77% · other public 38.70%

Annual general meeting, 28 Aug 2018, 8 resolutions

Present: 2 promoters and 59 others.The company's voting result (opens in a new tab)

Adoption of Financial Statements for the year ended March 31, 2018
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Declaration of final dividend on equity shares
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.00%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Reappointment of Mr. Sekhar Natarajan who retires by rotation
Ordinary
99.42% for0.58% against
Against: promoters 0.00% · institutions 7.65% · other public 0.05%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Ratification of appointment of M/s. MSKA & Associates, Chartered Accountants as Statutory Auditors and fixing their remuneration
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Confirmation of Mr. Bangla Bose Radhakrishna Mallipeddi as a Director
Ordinary
99.42% for0.58% against
Against: promoters 0.00% · institutions 7.65% · other public 0.05%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Approval of Related Party Transactions with ultimate holding company, Monsanto Company, USA
OrdinaryPromoters have an interest in it
99.98% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 0.05%
Turnout: all 8.49% · promoters 0.00% · institutions 90.08% · other public 11.49%
Ratification of remuneration payable to the Cost Auditors for the financial year ending March 31, 2018
Ordinary
100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.02%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%
Continuation of Mr. H. C. Asher as a Non-Executive Independent Director
Special
99.73% for0.27% against
Against: promoters 0.00% · institutions 3.51% · other public 0.05%
Turnout: all 80.64% · promoters 100.00% · institutions 90.08% · other public 11.49%

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 4 Jul 2019, 1 fund house

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

Adoption of Financial Statements for the year ended March 31, 2019
0 for0 against
1 abstained
Declaration of final dividend on equity shares
0 for0 against
1 abstained
Reappointment of Mr. Bangla Bose Radha Krishna Mallipeddi who retires by rotation
0 for0 against
1 abstained
Confirmation of Mr. Ravishankar Cherukuri as a Director
0 for0 against
1 abstained
Confirmation of appointment of Mr. Ravishankar Cherukuri as a Managing Director
0 for0 against
1 abstained
Confirmation of appointment of Ms. Aarti Arun Sathe as a Non-Executive Independent Director
0 for0 against
1 abstained
Ratification of remuneration payable to the Cost Auditors for the financial year ending March 31, 2020
0 for0 against
1 abstained
Shifting of Registered Office of the Company
0 for0 against
1 abstained

2 proposals not matched to one resolution

To approve payment of Commission to Directors (other than the Managing Director(s), Whole Time Director(s) and Directors nominated by Monsanto Company, USA), for a period of two years commencing from April 1, 2019 to March 31, 2021, in such amounts or proportions and in such manner and in all respects as may be decided and directed by the Board of directors and/or a Committee thereof may determine from time to time, but not exceeding 1% (one percent) or such other percentage of the Net Profits of the Company in any financial year as may be specified under the Companies Act, 2013 from time to time and computed in the manner provided under Section 198 of the Companies Act, 2013, and the amount of commission be paid at anytime in the relevant year on the basis of profit earned during that part of the year.MoreLess
0 for0 against
1 abstained
To carry out transaction(s) in ordinary course of business and on an arm’s length price.
0 for0 against
1 abstained

Mutual fund votes, meeting of 4 Jun 2019, 1 fund house

Approval of the Scheme of Amalgamation of Monsanto India Limited with Bayer CropScience Limited and their respective shareholders under Sections 230 to 232 and other applicable provisions of the Companies Act 2013MoreLess
0 for0 against
1 abstained

6 earlier meetings

Mutual fund votes, meeting of 28 Aug 2018, 1 fund house

Adoption of Financial Statements for the year ended March 31, 2018
0 for0 against
1 abstained
Declaration of final dividend on equity shares
0 for0 against
1 abstained
Reappointment of Mr. Sekhar Natarajan who retires by rotation
0 for0 against
1 abstained
Ratification of appointment of M/s. MSKA & Associates, Chartered Accountants as Statutory Auditors and fixing their remuneration
0 for0 against
1 abstained
Confirmation of Mr. Bangla Bose Radhakrishna Mallipeddi as a Director
0 for0 against
1 abstained
Approval of Related Party Transactions with ultimate holding company, Monsanto Company, USA
0 for0 against
1 abstained
Ratification of remuneration payable to the Cost Auditors for the financial year ending March 31, 2018
0 for0 against
1 abstained
Continuation of Mr. H. C. Asher as a Non-Executive Independent Director
0 for0 against
1 abstained

Mutual fund votes, meeting of 10 Aug 2017, 1 fund house

Approval of Related Party Transactions with ultimate holding company, Monsanto Company, USA
1 for0 against
Ratification of remuneration payable to M/s ABK & Associates as Cost Auditors of the Company for the FY ending 31st March, 2018
1 for0 against
Re-appointment of Ms. Shilpa Shridhar Divekar as the Managing Director for a period of three years w.e.f. September 1, 2017 and to approve the terms of appointment
1 for0 against

Mutual fund votes, meeting of 10 Aug 2016, 3 fund houses

Adoption of financial statements for the year ended 31 March 2016
1 for0 against
Adoption of Financial Statements for the year ended March 31, 2016
1 for0 against
Appoint Piyush Ramesh Nagar as Non-Executive Non-Independent Director
1 for0 against
Appointment of M/s ABK & Associates, Cost Accountants, to audit cost accounting records with respect to chemical business of the Company for the financial year ending March 31, 2017 at a remuneration of Rs. 2,50,000/-MoreLess
0 for0 against
1 abstained
Appointment of M/s Deloitte Haskins & Sells LLP, as Statutory Auditors of the Company at such remuneration and reimbursement of out of pocket expenses, as may be mutually agreed between the Board of Directors of the Company and the Statutory AuditorsMoreLess
0 for0 against
1 abstained
Approve remuneration of Rs.0.25 mn to be paid to ABK & Associates as Cost Auditor for FY17
1 for0 against
Confirmation of Appointment of Mr Piyush Ramesh Nagar as a Director
1 for0 against
Mr. H.C. Asher (DIN 00025199), director of the Company, be and is hereby appointed as an independent director of the Company
0 for0 against
1 abstained
Mr. Piyush Ramesh Nagar (DIN - 02272383) be and is hereby appointed a director of the Company,
0 for0 against
1 abstained
Mr. Pradeep Poddar (DIN 00024863), director of the Company, be and is hereby appointed as an independent director of the Company
0 for0 against
1 abstained
Ratification of Appointment of Statutory Auditors and fixing their remuneration
1 for0 against
Ratification of remuneration payable to the Cost Auditors for the financial year ending March 31, 2016
1 for0 against
Reappoint Deloitte Haskins & Sells as auditors for FY17
1 for0 against
Reappoint H.C. Asher as Independent Director for a period of five years
1 for0 against
Reappoint Pradeep Poddar as Independent Director for a period of five years
1 for0 against
Reappoint Sekhar Natarajan as Non-Executive Non-Independent Director
1 for0 against
Reappointment of Mr. H C Asher as an Independent Director
1 for0 against
Reappointment of Mr. Pradeep Poddar as an Independent Director
1 for0 against
Reappointment of Mr. Sekhar Natarajan who retires by rotation
1 for0 against
To appoint a director in place of Mr. Sekhar Natarajan (DIN- 01031445), who retires by rotation and being eligible, offers himself for reappointment
0 for0 against
1 abstained
To receive, consider and adopt the audited Balance Sheet as at March 31, 2016, and the Profit and Loss Account for the year ended on that date together with the Reports of the Directors and the Statutory AuditorsMoreLess
0 for0 against
1 abstained

Mutual fund votes, meeting of 7 Aug 2015, 3 fund houses

Item 1, as a fund house numbered it
1 for0 against
Item 2, as a fund house numbered it
1 for0 against
Item 3, as a fund house numbered it
1 for0 against
Item 4, as a fund house numbered it
Against Taurus Mutual Fund
Taurus Mutual FundMonsanto India proposes to reappoint Deloitte Haskins & Sells as the statutory auditor: Deloitte Haskins & Sells have been Monsanto India’s statutory auditors for the past 14 years. The reappointment is neither in line with our Voting Policy on Auditor Rotation nor follows the spirit of Section 139 of the Companies Act 2013. Under section 139 of the Companies Act 2013, an audit firm’s tenure may extend to a maximum of two consecutive terms of five years each (maximum 10 years). Although the Act has given companies a three-year window to comply, we expect companies to be proactive and start abiding by the spirit of the regulations at the earliest.
0 for1 against
Item 5, as a fund house numbered it
1 for0 against
Item 6, as a fund house numbered it
1 for0 against
Item 7, as a fund house numbered it
1 for0 against
Item 8, as a fund house numbered it
1 for0 against
1) To adopt Financial Statements for the year ended March 31, 2015 and the Reports of the Directors & Auditors thereon.
1 for0 against
2) To declare Dividend on equity shares.
1 for0 against
3) To re-appoint Mr. Sekhar Natarajan as Director of the Company.
1 for0 against
4) To ratify appointment of M/s. Deloitte Haskins & Sells LLP as Statutory Auditors of the Company and to fix their remuneration.
Against SBI Mutual Fund
SBI Mutual FundDeloitte Haskins & Sells have been Monsanto India’s statutory auditors for the past 14 years. The reappointment does not follow the spirit of Section 139 of the Companies Act 2013. Under section 139 of the Companies Act 2013, an audit firm’s tenure may extend to a maximum of two consecutive terms of five years each (maximum 10 years). Although the Act has given companies a three-year window to comply, We expect companies to be proactive and start abiding by the spirit of the regulations at the earliest.
0 for1 against
5) To confirm appointment of Ms. Shilpa Shridhar Divekar as Managing Director.
1 for0 against
6) To ratify remuneration payable to M/s. ABK & Associates as Cost Auditors of the Company for the Financial year ending March 31, 2016.
1 for0 against
7) Approval to Related Party Transaction with ultimate holding company, Monsanto Company,USA.
1 for0 against
8) Approval to Related Party Transaction with ultimate holding company, Monsanto Company,USA.
1 for0 against
Adoption of financial statements for the year ended 31 March 2015
1 for0 against
To appoint Ms. Shilpa Shrishar Divekar as the Managing Director for three years
1 for0 against
To declare final dividend of Rs.18 per equity share
1 for0 against
To enter into related party transactions with Monsanto Company, USA (ultimate holding company) and/or its subsidiaries/associates/joint venture
1 for0 against
To procure Radicle Emergence Test Imager equipment from Monsanto Company Ltd
1 for0 against
To ratify the remuneration of Rs.0.25 mn payable to ABK and Associates, Cost Auditors
1 for0 against
To reappoint Deloitte Haskins & Sells as statutory auditors for a year
1 for0 against
To reappoint Sekhar Natarajan as Director
1 for0 against

Mutual fund votes, meeting of 14 Jan 2015, 4 fund houses

Item 1, as a fund house numbered it
1 for0 against
1) Approval for entering into material related party transaction.
1 for0 against
Consent of the Company be & is hereby accorded to the audit Committee and the Board of Directors of the Company, as the case may be, to authorise the Management of the Company, to enter into Agreement(s) and transaction(s), as may be appreciate, for purchase of IPA salt of glyphosate technical from the company's ultimate holding company ie. Monsanto Company USA and/or any of its subsidiaries and/or any of its associate companies, of an aggregate value not exceeding as follows : 1) Rs. 130 crore for the financial year ending on March 31, 2015;and 2) Rs. 200 Crore for the financial year ending on March 31, 2016 and March 31, 2017, on principal terms.MoreLess
1 for0 against
Related Party Transaction for purchase from ultimate holding company
0 for0 against
1 abstained

Mutual fund votes, meeting of 22 Aug 2014, 1 fund house

A sum not exceeding one percent per annum of the net profits of the Company calculated in accordance with the provisions of Section 198 of the Companies Act, 2013 be paid to and distributed amongst the directors of the Company and directed by the Board of Directors and such payments shall be made in respect of the profits of the Company.MoreLess
1 for0 against
Mr. H.C. Asher (DIN 00024863), Director of the Company be and is hereby appointed as an Independent Director of the Company.
Against Bandhan Mutual Fund
Bandhan Mutual FundHC Asher is on Monsanto India’s board for 41 years. The length of tenure tends to be inversely proportionate to the independence of a director. Due to his long association (>10 years) with the company, he is considered non-Independent. However, if the company believes that it will benefit from HC Asher serving on the board, it must appoint him as a non-independent director and induct additional independent directors to ensure that the board composition is in line with the requirements of Clause 49 of the Listing Agreement.
0 for1 against
Mr. Pradeep Poddar (DIN 00025199), Director of the Company be and is hereby appointed as an Independent Director of the Company.
1 for0 against
Mr. Ravishankar Cherukuri (DIN 06755061), who was appointed as an Additional Director of the Company be and is hereby appointed as a Director of the Company.
1 for0 against
The appointment of M/s ABC & Associates, Cost Accountants to audit Cost Accounting records with respect to Chemical business of the Company for the financial year ending March 31, 2015 at a consolidated remuneration of Rs. 2,50,000/- per annum (Rupees Two Lakh Fifty Thousand only) plus service tax, as applicable and out of pocket expenses, be and is hereby ratifiedMoreLess
1 for0 against
To appoint a Director in place of Mr. R.C. Khanna (DIN- 00007293) who retires by rotation and being eligible, offers himself for reappointment.
1 for0 against
To appoint M/s Deloitte Haskins & Sells LLP, Chartered Accountants, the retiring Statutory Auditors of the Company, as Statutory Auditors their appointment shall be in accordance with the conditions as prescribed in the Act and the Rules made thereunder be and are hereby appointed as the Statutory Auditors of the Company.MoreLess
Against Bandhan Mutual Fund
Bandhan Mutual FundMonsanto India proposes to reappoint Deloitte Haskins & Sells as the statutory auditor: Deloitte Haskins & Sells have been Monsanto India’s statutory auditors for the past 13 years. The reappointment does not follow the spirit of Section 139 of the Companies Act 2013. Under section 139 of the Companies Act 2013, an audit firm’s tenure may extend to a maximum of two consecutive terms of five years each (maximum 10 years). Although the Act has given companies a three-year window to comply, we expect companies to be proactive and start abiding by the spirit of the regulations at the earliest.
0 for1 against
To confirm the payment of Interim Dividend and to declare a Final Dividend on equity shares.
1 for0 against
To receive, consider and adopt the audited Balance Sheet as at March 31, 2014, and the Profit and Loss Account for the year ended on that date and the Reports of the Directors and the Auditors thereon.MoreLess
0 for0 against
1 abstained

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