Ola Electric Mobility MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 28 Feb 2026, 17 fund houses

• To approve the appointment of Mr. Navalur Dattatreya Singh Shashank (DIN: 02237496) as a Non-Executive Independent Director of the Company.

  17 for0 against

Mutual fund votes, meeting of 27 Nov 2025, 17 fund houses

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

• To approve raising of funds through issuance of Securities of the Company

  2 for0 against

Mutual fund votes, meeting of 22 Aug 2025, 21 fund houses

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

• To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, along with the Reports of the Board of Directors ("Board") and Auditors' thereonMoreLess

  ›Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundWe have relied upon the auditors’ report, which has issued a qualified opinion on the internal financial controls of the consolidated financial statements due to material weakness identified at Ola Electric Technologies Private Limited (OTEPL), a material wholly owned subsidiary. OTEPL did not have an appropriate internal control system for physical verification of raw material and finished goods located at its stores and state distribution centres which could potentially result in material misstatements in the group’s inventories, cost of materials consumed and change in inventories of finished goods, stock-in-trade and work-in-progress account balances. Further, we note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. We do not support the resolution.
  • Kotak Mahindra Mutual FundWe have relied upon the auditors report, which has issued a qualified opinion on the internal financial controls of the consolidated financial statements due to material weakness identified at Ola Electric Technologies Private Limited (OTEPL), a material wholly owned subsidiary. OTEPL did not have an appropriate internal control system for physical verification of raw material and finished goods located at its stores and state distribution centres which could potentially result in material misstatements in the group s inventories, cost of materials consumed and change in inventories of finished goods, stock-in-trade and work-in-progress account balances. Further, we note that the auditors have highlighted certain issues related to the audit trail feature in the accounting software. We do not support the resolution.
  • Nippon India Mutual FundGovernance Concern: Lack of Clarity

  15 for6 against
• To appoint a Director in place of Mr. Krishnamurthy Venugopala Tenneti (DIN: 01338477), who retires by rotation and being eligible, offers himself for re-appointment

  ›Against Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Kotak Mahindra Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundKrishnamurthy Venugopala Tenneti, 80, is an advisor to the board of ANI Technologies Private Limited, a promoter entity, since 2017. He has over five decades of experience in strategic management, corporate governance, and business advisory. He attended 76% (13 out of 17) board meetings held in FY25. We note that Krishnamurthy Venugopala Tenneti is a member of the Audit Committee since December 2023. The statutory auditors have qualified the internal financial controls because Ola Electric Technologies Private Limited (OTEPL), a material subsidiary, did not have an appropriate internal control system for physical verification of raw material and finished goods located at its stores and state distribution centres which could potentially result in material misstatements in the group’s inventories, cost of materials consumed and change in inventories of finished goods, stock-in-trade and work-in-progress account balances. We believe the audit committee of Ola Electric Mobility Limited bears responsibility and must address the statutory auditor’s concerns of the material subsidiary which accounts for ~99% of the consolidated revenue from operation. Therefore, we do not support the resolution.
  • Kotak Mahindra Mutual FundKrishnamurthy Venugopala Tenneti, 80, is an advisor to the board of ANI Technologies Private Limited, a promoter entity, since 2017. He has over five decades of experience in strategic management, corporate governance, and business advisory. He attended 76% (13 out of 17) board meetings held in FY25. Krishnamurthy Venugopala Tenneti is a member of the Audit Committee since December 2023. The statutory auditors have qualified the internal financial controls because Ola Electric Technologies Private Limited (OTEPL), a material subsidiary, did not have an appropriate internal control system for physical verification of raw material and finished goods located at its stores and state distribution centres which could potentially result in material misstatements in the group s inventories, cost of materials consumed and change in inventories of finished goods, stock-in-trade and work-in-progress account balances. Therefore, we do not support the resolution.
  • Nippon India Mutual FundProfile of the candidate

  15 for6 against
• To appoint M/s. BMP & Co. LLP, Practising Company Secretaries, as the Secretarial Auditors of the Company.

  ›Against Angel One Mutual Fund, Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundProposed audit fee payable to Secretarial Auditors not disclosed in the Notice.
  • Baroda BNP Paribas Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo issues on merit of the proposed Secretarial Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR, 2015: Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice.
  • LIC Mutual FundConcerns in Proposed audit fee payable to Secretarial Auditors not disclosed in the Notice.

  13 for8 against
• Re-appointment ofMr. Krishnamurthy Venugopala Tenneti (DfN:01338477) as a Non- Executive Director of the Company

  ›Against Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund

  • Aditya Birla Sun Life Mutual Fund, Sundaram Mutual Fund, UTI Mutual FundKrishnamurthy Venugopala Tenneti is 80 years old. The company is seeking shareholder approval for his continuation on the board, which is a regulatory requirement. Our view on this resolution is linked to our view on resolution #3. Thus, we do not support the resolution.

  1 for3 against

Mutual fund votes, meeting of 1 Oct 2024, 11 fund houses

• To ratify and approve amendments in OEM Employees’ Equity Linked Incentive Plan 2019

  ›Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Bandhan Mutual FundNon-Compliant with SEBI SBEB & SE Regulations: Maximum Vesting Period left to be determined as per discretion of the administrator of the Scheme. Governance Concern: Theoretical possibility of transferring potential excessive benefits to single employee; power to the Administrator (Trust) to accelerate Vesting period.
  • Baroda BNP Paribas Mutual FundExercise price is NIL which is against the spirit of ESOP i.e. to align the interest of the employees with minority interest
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The scheme provides flexibility for grant of stock options with an exercise price at a deep discount to the market price on grant date. • There are inadequate disclosures to determine the metric used to evaluate vesting of stock options if performance based options are granted. • Circumstances for acceleration or deceleration of stock options under vesting have not been detailed. • The proposal include grant of units to employees of group companies without a compelling rationale.
  • HDFC Mutual FundThere is lack of clarity on the exercise price of ESOPs and how many shares will be issued on vesting of each option. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees.
  • Kotak Mahindra Mutual FundThe company has not provided any specific vesting period in the scheme as required to be disclosed as per the SEBI SBEB Regulations. Moreover, the company has not given any clarification on the process or the basis of price determination. Due to the lack of the clarification from the company, the process appears to be less transparent. Hence voting against.
  • Mirae Asset Mutual FundOptions granted at significant discount
  • Nippon India Mutual FundExcessive benefits to single employee; power to the Administrator (Trust) to accelerate Vesting period.
  • Sundaram Mutual FundThe company seeks to ratify the scheme to enable grant of options post the IPO. The company also seeks to amend certain clauses of the scheme. AS per the scheme, the company proposes to grant 633,98,725 options. It is unclear as to how many shares will be issued on vesting of each option. The scheme will be implemented through the trust route. The vesting will be primarily tenure based: the nomination and remuneration committee may define additional performance parameters. The exercise price will be Nil; however, the administrator of the scheme will have to power to determine a higher exercise price if required by law. We do not favour ESOP schemes where options are granted at a discount of more than 20% to the market price or where there is no clarity on the performance metrics and performance targets for vesting. 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 the 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. Hence, we do not support the resolution. Further, the proposed amendments include allowing the administrator to alter the vesting period of options on a case-by-case basis, which we do not support.

  3 for8 against
• Ratification of the extension of the benefits of OEM Employees’ Equity Linked Incentive Plan 2019 to the employees of subsidiary companies and group companies of the Company

  ›Against Bandhan Mutual Fund, Baroda BNP Paribas Mutual Fund, Franklin Templeton Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mahindra Manulife Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, Sundaram Mutual Fund

  • Bandhan Mutual FundNon-Compliant with SEBI SBEB & SE Regulations: Maximum Vesting Period left to be determined as per discretion of the administrator of the Scheme. Governance Concern: Extension of scheme to employees of group / associate companies without compelling reasons / cost not being reimbursed to the Company. Other concerns inter-linked with resolution no. 1.
  • Baroda BNP Paribas Mutual FundExercise price is NIL which is against the spirit of ESOP i.e. to align the interest of the employees with minority interest
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The scheme provides flexibility for grant of stock options with an exercise price at a deep discount to the market price on grant date. • There are inadequate disclosures to determine the metric used to evaluate vesting of stock options if performance based options are granted. • Circumstances for acceleration or deceleration of stock options under vesting have not been detailed. • The proposal include grant of units to employees of group companies without a compelling rationale.
  • HDFC Mutual FundThere is lack of clarity on the exercise price of ESOPs and how many shares will be issued on vesting of each option. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees.
  • Kotak Mahindra Mutual FundAlthough the Company currently has no associate/joint venture companies, the enabling approval would allow the benefit to be extended to the associate companies, which may arise in the future. Moreover, our view is linked with resolution #1.
  • Mahindra Manulife Mutual FundLinked to resolution #1. We support the extension of the scheme to unlisted subsidiaries but not associate companies. Currently, the company has no associate company or JV company but the provision is enabling. We therefore do not support this enabling resolution.
  • Mirae Asset Mutual FundOptions granted at significant discount
  • Nippon India Mutual FundExtension of scheme to employees of group / associate companies without compelling reasons / cost not being reimbursed to the Company.
  • Sundaram Mutual FundThe company seeks to extend the ESOP 2019 to employees/directors of subsidiary companies. Our view on this resolution is linked to our opinion on resolution #1. Further, we do not support extension of the scheme to employees of group companies other than unlisted subsidiaries.

  2 for9 against