Oberoi Realty CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 2 Jul 2025, 27 fund houses

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

• Ordinary Resolution: Consideration and adoption of the audited financial statements for the financial year ended March 31, 2025, and the reports of the Board of Directors and the Auditors thereon

  26 for0 against
• Ordinary Resolution: Confirmation of 1st, 2nd, 3rd and 4th interim dividend on equity shares for financial year 2024-25 as the final dividend for FY24-25

  26 for0 against
• Ordinary Resolution: Re-appointment of Mr. Saumil Daru as a Director, who retires by rotation

  27 for0 against
• Ordinary Resolution: Ratification of remuneration payable to M/s. Kishore Bhatia and Associates, Cost Auditors of the Company for the financial year ending March 31, 2026

  26 for0 against
• Ordinary Resolution: Appointment of M/s. Rathi & Associates, Practicing Company Secretaries, as the Secretarial Auditors for a period of 5 consecutive years

  26 for0 against

Mutual fund votes, meeting of 13 Nov 2024, 27 fund houses

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

• Approval of issue of equity shares and/or any other securities convertible into equity by way of qualified institutions placement/s

  ›Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Potential for significant dilution and no clarity regarding the reasoning behind not opting for Rights Issue; Generic explanation for the proposed increase in issue size.
  • Baroda BNP Paribas Mutual FundMagnitude of dilution is excessive. Company should turn net cash in FY25 and the rationale for the dilution is not detailed enough
  • PPFAS Mutual FundPotential for significant dilution; no justification for not opting for Rights Issue; Inadequate explanation for increase proposed.

  19 for6 against

Mutual fund votes, meeting of 28 Jun 2024, 26 fund houses

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

• 1 - Consideration and adoption of the audited financial statements for the financial year ended March 31, 2024, and the reports of the Board of Directors and the Auditors thereon

  25 for0 against
• 2 - Confirmation of 1st, 2nd and 3rd interim dividend on equity shares for the financial year 2023-24

  25 for0 against
• 3 - Declaration of final dividend on equity shares for the financial year 2023-24

  25 for0 against
• 4 - Re-appointment of Ms. Bindu Oberoi as a Director, who retires by rotation.

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundWe have concerns about insufficient independence on the board.

  25 for1 against
• 5 - Appointment of Mr. Prafulla Chhajed as an Independent Director

  26 for0 against
• 6 - Appointment of Mr. Anil Harish as an Independent Director

  ›Against Bank of India Mutual Fund, DSP Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund, Taurus Mutual Fund

  • Bank of India Mutual Fund, DSP Mutual FundAnil Harish, 70, is Partner at DM Harish & Co (Law firm). He has experience in areas of Property, Taxation, Exchange Control and Succession. He has completed his B.A. and L.L.B. from Mumbai and L.L.M. from University of Mumbai. Through the resolution, the company also seeks his continuation on the board once he attains 75 years of age on 19 March 2029.He was on the board of Oberoi Realty Limited as an Independent Director from September 2009 to September 2019. He has completed a mandatory cooling off period of three years as required under regulation. He serves on the boards of four listed companies (including Oberoi Realty Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with D.M. Harish & Co, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation.
  • Invesco Mutual FundAnil Harish, 70, is Partner at DM Harish & Co (Law firm). He has experience in areas of Property, Taxation, Exchange Control and Succession. He has completed his B.A. and L.L.B. from Mumbai and L.L.M. from University of Mumbai. Through the resolution, the company also seeks his continuation on the board once he attains 75 years of age on 19 March 2029. He was on the board of Oberoi Realty Limited as an Independent Director from September 2009 to September 2019. He has completed a mandatory cooling off period of three years as required under regulation. He serves on the boards of four listed companies (including Oberoi Realty Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with D.M. Harish & Co, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Navi Mutual Fund, Taurus Mutual FundAnil Harish, 70, is Partner at DM Harish & Co (Law firm). He has experience in areas of Property, Taxation, Exchange Control and Succession. He has completed his B.A. and L.L.B. from Mumbai and L.L.M. from University of Mumbai. Through the resolution, the company also seeks his continuation on the board once he attains 75 years of age on 19 March 2029. He was on the board of Oberoi Realty Limited as an Independent Director from September 2009 to September 2019. He has completed a mandatory cooling off period of three years as required under regulation. He serves on the boards of four listed companies (including Oberoi Realty Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with D.M. Harish & Co, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation.
  • SBI Mutual FundAnil Harish, 70, is Partner at DM Harish & Co (Law firm). He has experience in areas of Property, Taxation, Exchange Control and Succession. He has completed his B.A. and L.L.B. from Mumbai and L.L.M. from University of Mumbai. Through the resolution, the company also seeks his continuation on the board once he attains 75 years of age on 19 March 2029. He was on the board of Oberoi Realty Limited as an Independent Director from September 2009 to September 2019. He has completed a mandatory cooling off period of three years as required under regulation. He serves on the boards of four listed companies (including Oberoi Realty Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with D.M. Harish & Co, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation. This is why we do not support the resolution.
  • Sundaram Mutual Fund"Anil Harish, 70, is Partner at DM Harish & Co (Law firm). He has experience in areas of Property, Taxation, Exchange Control and Succession. He has completed his B.A. and L.L.B. from Mumbai and L.L.M. from University of Mumbai. Through the resolution, the company also seeks his continuation on the board once he attains 75 years of age on 19 March 2029. He was on the board of Oberoi Realty Limited as an Independent Director from September 2009 to September 2019. He has completed a mandatory cooling off period of three years as required under regulation. He serves on the boards of four listed companies (including Oberoi Realty Ltd). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as a Partner with D.M. Harish & Co, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on listed companies is not in keeping with the spirit of the regulation."

  18 for8 against
• 7 - Re-appointment of Ms. Tina Trikha as an Independent Director

  ›Against Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual FundNo concern on the merits of proposed appointees. Non-Compliance: Re-appointment is not in accordance with law, no prior shareholders’ approval obtained for re-appointment as an ID.
  • LIC Mutual FundNo concern on the merits of proposed appointees. Non-Compliance: Re-appointment is not in accordance with law, no prior shareholders approval obtained for re-appointment as an ID.
  • Nippon India Mutual FundShareholder's approval not obtained on time for appointment of director
  • Zerodha Mutual FundNo prior shareholders’ approval for re-appointment as Independent Director.

  18 for8 against
• 8 - Re-appointment of Mr. Vikas Oberoi as the Managing Director for a term of 5 years

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, PPFAS Mutual FundCompliant with the law. Governance Concern: Concentration of power in the hands of a single person.
  • Zerodha Mutual FundConcentration of power in the hands of a single person.

  21 for5 against
• 9 - Re-appointment of Mr. Saumil Daru as the Director- Finance for a term of 5 years

  ›Against HSBC Mutual Fund

  • HSBC Mutual FundWe have concerns about insufficient independence on the board.

  25 for1 against
• 10 - Ratification of remuneration payable to M/s. Kishore Bhatia and Associates, Cost Auditors of the Company for the financial year 2024-25

  2 for0 against
• 12 - Approval of issue of equity shares and/or any other securities convertible into equity by way of qualified institutions placement/s, public/ private offerings or any combination thereof.

  1 for0 against

Mutual fund votes, meeting of 28 Jun 2023, 21 fund houses

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

• 1 - Consideration and adoption of the audited financial statements for the financial year ended March 31, 2023, and the reports of the Board of Directors and the Auditors thereon

  19 for0 against
• 2 - Declaration of dividend on equity shares

  20 for0 against
• 3 - Re-appointment of Mr. Vikas Oberoi as a Director, who retires by rotation

  ›Against Bandhan Mutual Fund, HSBC Mutual Fund, PGIM India Mutual Fund

  • Bandhan Mutual Fund, PGIM India Mutual FundRe-appointment Compliant with law. Governance concern: Combined position of Chairman & MD may lead to concentration of power in the hands of a single person.
  • HSBC Mutual FundWe have concerns about insufficient independence on the Remuneration committee.

  17 for3 against
• 4 - Ratification of remuneration payable to M/s. Kishore Bhatia and Associates, Cost Auditors of the Company for the financial year ending March 31, 2024.

  20 for0 against
• 5 - Approval of issue of equity shares and/or any other securities convertible into equity by way of qualified institutions placement/s, public/ private offerings or any combination thereof

  14 for0 against

Mutual fund votes, meeting of 1 Dec 2022, 22 fund houses

• Approval for purchase of premises by the Company from Oasis Realty, a joint venture entity (A Material Related Party Transaction)

  ›Against Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Baroda BNP Paribas Mutual Fund, JM Financial Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Axis Mutual Fund, Bank of India Mutual Fund, Sundaram Mutual FundOasis Realty (Oasis) is a joint venture between a wholly owned subsidiary of Oberoi Realty Limited (ORL) - Oberoi Constructions Limited (32.5%) and Skylark Buildcon Private Limited (67.5%). The Joint Venture entity is engaged in the construction of ‘Three Sixty West’ at Worli, Mumbai, a mixed-use development comprising of two towers, a hotel and residential property, located in Worli, Mumbai. In December 2020, ORL acquired the entire hotel property from Oasis through its wholly owned subsidiary Evenstar Hotels Private Limited. The proposed transaction is for purchase of premises of the residential property by ORL from Oasis for upto Rs. 40.0 bn, to recoup the investment made by ORL and to facilitate quick and independent decision making with respect to the sale of the premises. The company has not provided any disclosures with respect to the saleable area to be purchased, the price assumed for valuation and the rationale for the immediate need for the transaction. Given the size of the proposed transaction (148.5% of FY22 revenues), the company should have provided adequate clarity on the valuation and saleable area. It must also clarify how the amount will be funded.
  • Bandhan Mutual FundCompliant with law; Governance concern: The Company has not provided adequate justification for the proposed transaction
  • Baroda BNP Paribas Mutual FundThe transaction will lead to significant increase in financial leverage of the company and limit its ability to grow in future.
  • JM Financial Mutual FundCompliant with law; Governance concern: The Company has not provided adequate justification for the proposed transaction.
  • Nippon India Mutual FundInsufficient information

  15 for7 against

Mutual fund votes, meeting of 15 Jul 2022, 19 fund houses

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

• Consideration and adoption of the audited financial statements (including consolidated financial statements) for the financial year ended March 31, 2022 and the reports of the Board of Directors and Auditors thereonMoreLess

  ›Against Nippon India Mutual Fund

  • Nippon India Mutual FundNon-disclosure of latest financial statements of Subsidiaries on the website

  18 for1 against
• Declaration of dividend of Rs. 3 per equity share for the year ended March 31, 2022

  19 for0 against
• Re-appointment of Mr. Saumil Daru as a Director , who retires by rotation

  19 for0 against
• Re-appointment of S R B C & CO LLP, Chartered Accountants, as the Statutory Auditors for the second term of 5 consecutive years

  ›Against Kotak Mahindra Mutual Fund, Nippon India Mutual Fund

  • Kotak Mahindra Mutual FundNon-Compliant with Regulation 36(5) of SEBI LODR as Proposed audit fee not disclosed.
  • Nippon India Mutual FundInadequate disclosure

  17 for2 against
• Ratification of remuneration payable to M/s. Kishore Bhatia & Associates, Cost Auditors of the Company for the financial year ending March 31, 2023

  ›Against Kotak Mahindra Mutual Fund

  • Kotak Mahindra Mutual FundThough compliant with law. The company has not disclosed portion of the turnover that is subject to Cost Audit by M/s. Kishore Bhatia& Associates. The cost audit fee is also significantly lower than fee suggested by the ICAI.

  17 for1 against
• Approval for providing of corporate guarantee for securing borrowing(s)/ facility(ies) to be obtained in Oasis Realty (A Material Related Party Transaction)

  ›Against Franklin Templeton Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted due to the following reasons: • The company will be taking in a disproportionate amount of risk relative to its ownership stake without compelling justification. • There are lack of disclosures regarding the credit rating of the JV entity.

  18 for1 against
• Approval of issue of equity shares and/or any other securities convertible into equity by way of qualified institutions placement/s, public/private offering or any combination thereof

  3 for0 against