Petronet LNG CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 4 Apr 2026, 33 fund houses

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

• To appoint Shri Neeraj Mittal (DIN: 05216366) as Director and Chairman of the Company

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Non-Compliant Board - Board is non-compliant with the requirement of requisite number of Independent Directors. A non-compliant Board raises question mark over board oversight mechanism and the independence of decision making on the Board.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Non-Compliant Board - Board is non-compliant with the requirement of requisite number of Independent Directors. A non-compliant Board raises question mark over board oversight mechanism and the independence of decision making on the Board.
  • HSBC Mutual FundWe are voting against this new non-independent non-executive director as the level of board independence falls below our expectation
  • PPFAS Mutual FundDirector is the Secretary, Ministry of Petroleum & Natural Gas Director is eligible for the appointment but the board is non-compliant with less than 50% Independent Directors.

  25 for7 against
• To appoint Ms. Avantika Singh Aulakh, IAS (DIN: 07549438) as Nominee Director (GMB/ GoG) of the Company

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Non-Compliant Board - Board is non-compliant with the requirement of requisite number of Independent Directors. A non-compliant Board raises question mark over board oversight mechanism and the independence of decision making on the Board. Full time positions - Ms. Avantika Singh Aulakh holds six (6) full time positions. To fulfil one's responsibilities as a director with diligence, an individual should not hold more than one full-time position, unless the Companies are sharing holding/ subsidiary relationship and into related business.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Non-Compliant Board - Board is non-compliant with the requirement of requisite number of Independent Directors. A non-compliant Board raises question mark over board oversight mechanism and the independence of decision making on the Board. Full time positions - Ms. Avantika Singh Aulakh holds six (6) full time positions. To fulfil one's responsibilities as a director with diligence, an individual should not hold more than one full-time position, unless the Companies are sharing holding/ subsidiary relationship and into related business.
  • HSBC Mutual FundWe are voting against this new non-independent non-executive director as the level of board independence falls below our expectation
  • PPFAS Mutual FundDirector is the MD of GSPC Ltd Director is eligible for the appointment but the board is non-compliant with less than 50 Independent Director

  26 for7 against

Mutual fund votes, meeting of 10 Jan 2026, 33 fund houses

• To approve extension of tenure of Shri Akshay Kumar Singh (DIN: 03579974), Managing Director & CEO from February 1, 2026 to May 12, 2027, as a one-off final extension

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Board Composition is non compliant regarding requisite number of Independent Directors.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern identified w.r.t the profile & merit of the proposed appointee. Governance concern: Board Composition is noncompliant regarding requisite number of IDs on the Board, as per SEBI LODR Regulations.
  • PPFAS Mutual FundExecutive Directors are eligible for re-appoinment but the Board is non-compliant every year raising governance concerns.

  27 for6 against
• To approve extension of tenure of Shri Pramod Narang (DIN: 07792813), Director (Technical) for a further period of two years, as a one-off final extension, from November 26, 2025 to November 25, 2027

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Board Composition is non compliant regarding requisite number of Independent Directors.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern identified w.r.t the profile & merit of the proposed appointee. Governance concern: Board Composition is noncompliant regarding requisite number of IDs on the Board, as per SEBI LODR Regulations.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because:• The board independence norms are not met, and Pramod Narang is a non-independent director nominee.• Pramod Narang serves as a member of the audit committee despite being an executive director
  • PPFAS Mutual FundExecutive Directors are eligible for re-appoinment but the Board is non-compliant every year raising governance concerns.

  26 for7 against

Mutual fund votes, meeting of 24 Sep 2025, 32 fund houses

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

• To receive, consider and adopt (a) the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2025 together with the Reports of the Board of Directors (along with Annexures thereto) and of the Independent Statutory Auditors thereon (b) the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March 2025 together with the Report of the Independent Statutory Auditors thereonMoreLess

  31 for0 against
• To consider declaration of final dividend on equity shares for the financial year 2024-25

  31 for0 against
• To appoint a Director in place of Shri Pankaj Jain (DIN: 00675922), who retires by rotation and, being eligible, offers himself for reappointment as the Chairman of the Company

  ›Against 360 One Mutual Fund, Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because:• The board independence norms are not met, and Pankaj Jain and Milind Shivaram Torawane are non_x0002_independent director nominees.• Milind Shivaram Torawane has failed to attend at least 75 percent of board meetings in the most recent fiscal year without a satisfactory explanation and has a poor attendance record.
  • PPFAS Mutual FundThere is no concern identified on merits of the proposed appointee, but the board continues to be in non-compliance with the requirement of minimum 50% independent directors

  21 for10 against
• To appoint a Director in place of Shri Milind Torawane (DIN: 03632394), who retires by rotation and, being eligible, offers himself for reappointment as Nominee Director – GMB/ GoG of the Company

  ›Against 360 One Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PPFAS Mutual Fund, Sundaram Mutual Fund, Zerodha Mutual Fund

  • 360 One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Holds four (4) full time positions.
  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Holds four full time positions.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, NJ Mutual Fund, Sundaram Mutual FundMilind Torawane, 53, Managing Director of Gujarat State Petroleum Corporation Limited, has been on the board since April 2023. He represents the Government of Gujarat on the board. He attended 71.4% (five out of seven) board meetings held in FY25 and 66.7% (twelve out of eighteen) board meetings held over two years. We expect directors to take their responsibilities seriously and attend all board meetings: we have a threshold of 75% attendance of the board meetings in the three years prior to re-appointment. Given his poor attendance, we do not support the resolution.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted because: • The board independence norms are not met and Milind Shivaram Torawane is a non-independent director nominee. • He has failed to attend at least 75 percent of board meetings in the most recent fiscal year without a satisfactory explanation and has a poor attendance record.
  • HSBC Mutual FundA vote AGAINST these resolutions is warranted because:• The board independence norms are not met, and Pankaj Jain and Milind Shivaram Torawane are non_x0002_independent director nominees.• Milind Shivaram Torawane has failed to attend at least 75 percent of board meetings in the most recent fiscal year without a satisfactory explanation and has a poor attendance record.
  • Invesco Mutual FundMilind Torawane, 53, Managing Director of Gujarat State Petroleum Corporation Limited, has been on the board since April 2023. He represents the Government of Gujarat on the board. He attended 71.4% (five out of seven) board meetings held in FY25 and 66.7% (twelve out of eighteen) board meetings held over two years. We expect directors to take their responsibilities seriously and attend all board meetings: we have a threshold of 75% attendance of the board meetings in the three years prior to re-appointment. Given his poor attendance, we do not support the resolution
  • Mirae Asset Mutual FundIn line with advisor recommendation (passive holding)
  • Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. Holds four (4) full time positions.
  • PPFAS Mutual FundThere is no concern identified on merits of the proposed appointee, but the board continues to be in non-compliance with the requirement of minimum 50% independent directors

  13 for18 against
• To approve Related Party Transactions entered or to be entered by the Company for the financial year 2026-27

  26 for0 against
• To approve the appointment of M/s Akhil Rohtagi & Company, Company Secretaries as Secretarial Auditor of the Company for a period of five years commencing from the financial year 2025-26 to 2029-30

  32 for0 against
• To ratify the remuneration of the Cost Auditors for three financial years commencing from the financial year 2025-26

  31 for0 against

Mutual fund votes, meeting of 28 Jun 2025, 30 fund houses

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

• To appoint Shri Saurav Mitra (DIN: 07684414) as Director (Finance) & Chief Financial Officer of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Franklin Templeton Mutual FundA vote AGAINST this resolution is warranted in view of the following concerns in the executive's appointment the board independence norms are not met and Saurav Mitra is a non-independent director nominee.
  • PPFAS Mutual FundThere is no concern identified on merits of the proposed appointee, but the board continues to be in non-compliance with the requirement of minimum 50% independent directors

  21 for8 against
• To appoint Shri Sanjay Khanna (DIN: 09485131) as Nominee Director (BPCL) of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by a promoter representative and the board is not at least one-half independent and Sanjay Khanna is a non-independent director nominee.
  • PPFAS Mutual FundThere is no concern identified on merits of the proposed appointee, but the board continues to be in non-compliance with the requirement of minimum 50% independent directors

  22 for8 against

Mutual fund votes, meeting of 25 Jan 2025, 29 fund houses

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

• To reappoint Shri Sanjeev Mitla (DIN: 00160478) as an Independent Director of the Company

  ›Against Axis Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund

  • Axis Mutual FundSanjeev Mitla, 59, is a chartered accountant and is Managing Partner at Sharma Goel & Co. Chartered Accountants, New Delhi. He is also founder and promoter of SGC Services Pvt. Ltd, a payroll services provider. He has attended 73% (eight out of eleven) of the board meetings held in FY24, 80% of the board meetings held in FY25 till the date of the notice and 73% of board meetings over the last three years. We expect directors to attend all board meetings or atleast 75% of the board meetings over three years. Further, we raise concerns on his high number of directorships along with his full-time role; he is on the board of eighteen companies (including Petronet LNG Limited) and is a partner in twelve Limited Liability Partnerships. Given the high number of directorships, we believe he may not have the ability to devote sufficient time for his board responsibilities at Petronet LNG, which can be evidenced from his low board meetings attendance over the last three years. We do not support the resolution.
  • Invesco Mutual FundSanjeev Mitla, 59, is a chartered accountant and Managing Partner at Sharma Goel & Co. Chartered Accountants, New Delhi. He is also founder and promoter of SGC Services Pvt. Ltd, a payroll services provider. He has attended 73% (8 out of 11) of the board meetings held in FY24, 80% of the board meetings held in FY25 till the date of the notice and 73% of board meetings over the last three years. We expect directors to attend atleast 75% of the board meetings over three years. Further, we raise concerns on his high number of directorships along with his full-time role; he is on the board of 18 companies (including Petronet LNG) and is a partner in 12 Limited Liability Partnerships. Given the high number of directorships, we believe he may not have the ability to devote sufficient time for his board responsibilities at Petronet LNG, which can be evidenced from his low board meetings attendance over the last three years. We do not support the resolution
  • Mirae Asset Mutual FundIn line with advisor recommendation (passive holding)

  25 for3 against
• To reappoint Shri Sundeep Bhutoria (DIN: 00733800) as an Independent Director of the Company

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because: • Sundeep Bhutoria has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation.
  • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: • Sundeep Bhutoria has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation (Item 2). • The board independence is not met and Arvinder Singh Sahney (Item 3) is a non-independent director nominee.

  26 for2 against
• To appoint Shri Arvinder Singh Sahney (DIN: 10652030) as Nominee Director (IOCL) of the Company

  ›Against Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund

  • Bajaj Finserv Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors. "The Company is seeking shareholders’ approval for the appointment of Mr. Arvinder Singh Sahney as a Nominee Director (NonExecutive) of Indian Oil Corporation Ltd. (IOCL) w.e.f. 29th November, 2024. He shall be liable to retire by rotation Shri Arvinder Singh Sahney (DIN: 10652030), aged 54 years, is a Chemical Engineer from HBTI, Kanpur, with over three decades of expertise in the Refinery and Petrochemical sector. He brings extensive experience from working at five of IndianOil's nine refineries. At IndianOil, he has been instrumental in commissioning and optimizing key refinery units, including the 15 MMTPA Paradip Refinery, which has significantly bolstered India's refining capacity and energy security. Prior to his appointment as Chairman, he headed IndianOil’s Petrochemical vertical, where he was instrumental in the conceptualization of various petrochemical projects, including the upcoming mega Petrochemical Complex at Paradip, poised to significantly expand IndianOil’s footprint in the sector. A firm believer in people-centric leadership, Shri Sahney has championed Innovation and Digital transformation as drivers of growth and sustainability. His strategic vision and operational excellence have positioned IndianOil as a global energy major, wellequipped to meet the evolving energy needs of the nation. Shri Sahney also chairs Terra Clean Limited, a Wholly Owned Subsidiary (WoS) of IndianOil focused on sustainable solutions, and is a Director at IndOil Montney Ltd, Canada, IndianOil’s WoS. While no concern has been identified on the merits of the proposed appointee. We have identified the following governance concern The Company in its Annual Report has stated that “SEBI LODR stipulates that where the Chairperson of the Board of Directors is a Non - Executive Director, at least one-third of the Board of Directors shall comprise of independent directors. Since the Chairman of the Board of Petronet is non-executive, therefore, one-third of the total strength of Directors must comprise Independent Directors"". Further it has stated that, “During the financial year 2023-24, the Company was in compliance with the mandatory requirements of SEBI LODR and the Companies Act, 2013 pertaining to composition of Board of Directors.” It may be noted that, the promoters of the Company are 4 Public Sector Undertakings (PSUs) and the Promoter of these PSU’s is the President of India (Government of India), therefore, indirectly the promoter of the Company is the Government. In the present case, the Chairperson of the Board is an employee of the Government of India, indirect Promoter of the Company, therefore, considering the above-mentioned explanation, the Chairperson of the Company is related to promoter. Hence, as per Regulation 17(1)(b) of SEBI LODR, when the Chairperson is related to promoter, at least half (50%) of the board of directors shall comprise of Independent Directors. Currently, the Board of the Company has 14 Directors and there are only 5 Independent Directors (36%) on the Board as against the Compliance requirement of 50%. Here we are of the view that, a non-compliant Board raises question mark over board oversight mechanism and the independence of decision making on the Board hence we are voting against the resolution."
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board independence is not met and Arvinder Singh Sahney is a non-independent director nominee.
  • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: • Sundeep Bhutoria has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation (Item 2). • The board independence is not met and Arvinder Singh Sahney (Item 3) is a non-independent director nominee.

  21 for7 against

Mutual fund votes, meeting of 23 Nov 2024, 28 fund houses

• To appoint Shri Satish Kumar Vadugiri (09322002) as Nominee Director (IOCL) of the Company

  ›Against Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual Fund

  • Bajaj Finserv Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of the proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors.
  • Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted because the board independence norms are not met, and the nominee is a non-independent director nominee.
  • HSBC Mutual FundA vote AGAINST the nominee is warranted because: • The board independence norms are not met, and the nominee is a non-independent director nominee.

  19 for9 against