Power Finance Corporation CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 31 Aug 2026, 17 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.

• To receive, consider and adopt: a. the Standalone Audited Financial Statements of the Company for the financial year ended March 31, 2026 including the Audited Balance Sheet as on March 31, 2026 and the Statement of Profit & Loss for the year ended on that date and the Reports of the Board of Directors, Statutory Auditor and comments of Comptroller and Auditor General of India thereon. b. the Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2026 including the Audited Balance Sheet as on March 31, 2026 and the Statement of Profit & Loss for the year ended on that date and the Reports of Statutory Auditor and comments of Comptroller and Auditor General of India thereon.MoreLess

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundNon-disclosure of financial of subsidiaries on website for FY 2025-26. Governance concern: Non-Compliant Audit Committee at time of approval of financials. Accounts not vetted by duly compliant audit committee.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundWe have relied upon the auditors’ report, which has not raised concerns on the financial statements. Based on the auditors’ report, which is unqualified, the financial statements are in accordance with generally accepted accounting principles and Indian Accounting Standards (Ind AS). However, we raise concern that the company has not constituted an audit committee in line with regulations and does not have sufficient independent directors on the board, even while the accounts were finalized. In the absence of critical oversight provided by the audit committee, we are unable to support the resolution.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified financial statements. Non-compliant with Companies Act & Listing Regulations: Non-disclosure of financial of subsidiaries on website for FY 2025-26. Governance concern: Non-Compliant Audit Committee at time of approval of financials. Accounts not vetted by duly compliant audit committee.

  9 for8 against
• To confirm the payment of Interim Dividend and declare Final Dividend on Equity Shares for the financial year 2025-26

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund

  • Angel One Mutual FundGovernance concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. Sufficient fund to pay final dividend. Governance concern is raised in adoption of financial statements of the Company under resolution #1, dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  11 for6 against
• To appoint a Director in place of Shri Shashank Misra (DIN:08364288), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Independent Director on the Board.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundShashank Mishra, 43, is Government Nominee Director appointed by Ministry of Power, Government of India. He serves as Joint Secretary in the Ministry of Power (MoP). He attended all 18 (100%) board meetings held in FY26. We are unable to support the resolution because the board composition is not compliant with regulations on independent director representation. We expect the MoP to first address the board composition, before appointing its nominees to the board. Further, the company has clarified that the notice inadvertently mentioned his period of appointment as one year and it may be read as till further orders. Given the concerns regarding board composition, we do not support this resolution.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Independent Director on the Board.
  • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: The board is chaired by an executive director, and the board is not at least one-half independent and Shashank Misra, Veerappan Packirisamy and Pankaj Gupta are non-independent director nominees. (Item 3, 6, & 7) Veerappan Packirisamy is an executive director serving on the audit committee. (Item 6)

  7 for10 against
• To fix the remuneration of the Statutory Auditors

  17 for0 against
• Appointment of Shri Rajesh Kumar Agarwal (DIN: 09699001) as Director (Finance) of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund

  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Independent Director on the Board.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India 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 and Woman Independent Director on the Board.

  11 for6 against
• Appointment of Shri V. Packirisamy (DIN: 08910218) as Director (Commercial) of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund

  • Angel One Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Independent Director on the Board.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India 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 and Woman Independent Director on the Board.
  • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: The board is chaired by an executive director, and the board is not at least one-half independent and Shashank Misra, Veerappan Packirisamy and Pankaj Gupta are non-independent director nominees. (Item 3, 6, & 7) Veerappan Packirisamy is an executive director serving on the audit committee. (Item 6)

  10 for7 against
• Appointment of Shri Pankaj Gupta (DIN:03415536) as Part-Time Non-official Director (Independent Director) of the Company.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, Sundaram Mutual Fund

  • Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law. Appointment as Independent Director for a period of only three months.
  • DSP Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundPankaj Gupta, 53, is Managing Partner of Pankaj Manvi & Associates, providing services in Direct and Indirect Taxation, Audit, Accounting, Fund Raising, and Corporate Litigation to domestic and international clients. He has over 25 years of professional experience in taxation, audit, corporate law and financial advisory. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). As per public sources, he is associated with BJP. While his appointment meets statutory requirements, we believe his political affiliation may unnecessarily politicize the decisions of the corporation and distract the management from its core focus. The company should have disclosed his political affiliation as part of the notice. We do not support the resolution.
  • Edelweiss Mutual Fund, Helios Mutual Fund, LIC Mutual Fund, Navi Mutual Fund, PGIM India Mutual FundCompliant with law. No concern on the merits of director. Governance concern: Term of appointment is ambiguous and against spirit of the law. Appointment as ID for a period of only three months.
  • HSBC Mutual FundA vote AGAINST the following nominees is warranted because: The board is chaired by an executive director, and the board is not at least one-half independent and Shashank Misra, Veerappan Packirisamy and Pankaj Gupta are non-independent director nominees. (Item 3, 6, & 7) Veerappan Packirisamy is an executive director serving on the audit committee. (Item 6)

  7 for10 against
• Enhancement of borrowing limit approved under Section 180(1)(c) of the Companies Act, 2013 & modification under Section 180 (1) (a) of the Companies Act, 2013.

  5 for0 against

Mutual fund votes, meeting of 28 Aug 2025, 33 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 Standalone Audited Financial Statements of the Company for the financial year ended March 31, 2025 including the Audited Balance Sheet as on March 31, 2025 and the Statement of Profit & Loss for the year ended on that date and the Reports of the Board of Directors, Statutory Auditor and comments of Comptroller and Auditor General of India thereon. b. the Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2025 including the Audited Balance Sheet as on March 31, 2025 and the Statement of Profit & Loss for the year ended on that date and the Reports of Statutory Auditor and comments of Comptroller and Auditor General of India thereon.MoreLess

  32 for0 against
• To confirm the payment of Interim Dividend and declare Final Dividend on Equity Shares for the financial year 2024-25.

  32 for0 against
• ORDINARY - To appoint a Director in place of Shri Rajiv Ranjan Jha (DIN: 03523954), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because Rajiv Ranjan Jha serves as a member of the audit and nomination and remuneration committee.
  • HSBC Mutual FundA vote AGAINST the following nominee is warranted because Rajiv Ranjan Jha serves as a member of the auditand nomination and remuneration committee

  31 for2 against
• ORDINARY - To fix the remuneration of the Statutory Auditors

  33 for0 against
• SPECIAL - Appointment/Re-appointment of Smt. Usha Sajeev Nair (DIN:09408454) as Part-Time Non-official Director (Independent Director) of the Company.

  ›Against 360 One Mutual Fund, Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Canara Robeco Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund, Taurus 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 FundNo concern on the merits of Directors. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual Fund, Taurus Mutual FundMs. Usha Sajeev Nair, 49, is a female entrepreneur engaged in her own business in Dadra and Nagar Haveli and Daman and Diu. She is actively involved in social work, focusing on women’s issues and providing support to the elderly, homeless, and orphans. The company should have provided specific details about the extent and depth of Ms. Usha Sajeev Nair’s work experience in the shareholder notice. She served on the board as Independent Director from 23 December 2021 till 22 December 2024 and attended all twelve (100%) board meetings held in FY25 during her tenure. The company now proposes to reappoint her for a second term from 17 April 2025. We are unable to support her reappointment as Independent Director given the lack of clarity on her work experience. Further, while public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as good practice, the company should have sought approval within three months. We do not support the resolution.
  • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
  • Canara Robeco Mutual FundMs. Usha Sajeev Nair, 49, is a female entrepreneur engaged in her own business in Dadra and Nagar Haveli and Daman and Diu. She is actively involved in social work, focusing on women’s issues and providing support to the elderly, homeless, and orphans. The company should have provided specific details about the extent and depth of Ms. Usha Sajeev Nair’s work experience in the shareholder notice. She served on the board as Independent Director from 23 December 2021 till 22 December 2024 and attended all twelve (100%) board meetings held in FY25 during her tenure. The company now proposes to reappoint her for a second term from 17 April 2025. We are unable to support her reappointment as Independent Director given the lack of clarity on her work experience. We do not support the resolution.
  • Franklin Templeton Mutual FundA vote AGAINST the nominee is warranted given her limited corporate experience and lack of clarity on her relevant skills and experience to contribute on the board.
  • HSBC Mutual FundA vote AGAINST the nominee is warranted given her limited corporate experience and lack of clarity on herrelevant skills and experience to contribute on the board.
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law.
  • Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
  • PPFAS Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law
  • quant Mutual FundNo concern on the merits of Directors. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.

  12 for21 against
• SPECIAL - Appointment/Re-appointment of Shri Prasanna Tantri (DIN:06471864) as Part-Time Non-official Director (Independent Director) of the Company

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Directors. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law.
  • PPFAS Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law
  • quant Mutual FundNo concern on the merits of Directors. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.

  24 for9 against
• SPECIAL - Appointment of Shri Naresh Dhanrajbhai Kella (DIN: 01176450) as Part-Time Non-official Director (Independent Director) of the Company.

  ›Against 360 One Mutual Fund, Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Canara Robeco Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, HSBC Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund, Taurus Mutual Fund, UTI Mutual Fund, WhiteOak Capital 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, quant Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law. Appointment as ID for a period of only one year.
  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual Fund, Taurus Mutual FundNaresh Dhanrajbhai Kella, 42, manages the Dhanraj Kella Charitable Trust, through which he undertakes various charitable activities, including conducting medical relief camps, supporting government school students in curricular programs, among others. He also serves as a Member of the Gujarat State Fee Revision Committee and as President of the Zalawad Federation of Trade & Industries, Surendranagar District. His appointment as Independent Director is in line with the statutory requirements. As per public sources, Naresh Dhanrajbhai Kella has political affiliations that, we believe, may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as part of the shareholder notice. Further, while public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as good practice, the company should have sought approval within three months. We do not support the resolution.
  • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous. Appointment as Independent Director for a period of only one year.
  • Canara Robeco Mutual FundNaresh Dhanrajbhai Kella, 42, manages the Dhanraj Kella Charitable Trust, through which he undertakes various charitable activities, including conducting medical relief camps, supporting government school students in curricular programs, among others. He also serves as a Member of the Gujarat State Fee Revision Committee and as President of the Zalawad Federation of Trade & Industries, Surendranagar District. His appointment as Independent Director is in line with the statutory requirements. As per public sources, Naresh Dhanrajbhai Kella has political affiliations that, we believe, may unnecessarily politicise the decisions of the company and distract the management from its core focus. We do not support the resolution.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because Naresh Kella is associated with the ruling political party, and the presence of directors with political background or affiliation with a political party can act as an impediment for independent and objective thinking of the board.
  • HSBC Mutual FundA vote AGAINST the following nominee is warranted because Naresh Kella is associated with the ruling politicalparty, and the presence of directors with political background or affiliation with a political party can act as animpediment for independent and objective thinking of the board
  • Invesco Mutual FundNaresh Dhanrajbhai Kella, 42, manages the Dhanraj Kella Charitable Trust, through which he undertakes various charitable activities, including conducting medical relief camps, supporting government school students in curricular programs, among others. He also serves as a Member of the Gujarat State Fee Revision Committee and as President of the Zalawad Federation of Trade & Industries, Surendranagar District. His appointment as Independent Director is in line with the statutory requirements. As per public sources, Naresh Dhanrajbhai Kella has political affiliations that, we believe, may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as part of the shareholder notice. Further, while public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as good practice, the company should have sought approval within three months. We do not support the resolution
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law. Appointment as ID for a period of only one year.
  • Nippon India Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law. Appointment as ID for a period of only one year.
  • PPFAS Mutual FundDelayed Shareholders’ approval; Term of appointment is ambiguous and against spirit of the law; Appointment as ID for 1 year
  • UTI Mutual FundPublic sources suggest he is politically affiliated.
  • WhiteOak Capital Mutual FundNaresh Dhanrajbhai Kella, 42, manages the Dhanraj Kella Charitable Trust. Considering the lack of relevant experience and financial background and considering the current board profile, we recommend voting against. we do not support the resolution.

  10 for23 against
• SPECIAL - Appointment/Re-appointment of Shri Bhaskar Bhattacharya (DIN:09406292) as Part-Time Non-official Director (Independent Director) of the Company.

  ›Against 360 One Mutual Fund, Aditya Birla Sun Life Mutual Fund, Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Canara Robeco Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Sundaram Mutual Fund, UTI Mutual Fund, WhiteOak Capital 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 FundNo concern on the merits of Directors. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, Jio BlackRock Mutual Fund, Sundaram Mutual FundBhaskar Bhattacharya, 66, is the former Chairperson of Hooghly Tax Advocates Bar Association and Member of West Bengal Taxation Tribunal. He served on the board as Independent Director from 23 December 2021 till 22 December 2024 and attended all twelve (100%) board meetings held in FY25 during his tenure. The company now proposes to reappoint him for a second term from 13 May 2025. His reappointment as Independent Director is in line with the statutory requirements. As per public sources, Bhaskar Bhattacharya has political affiliations that, we believe, may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as part of the shareholder notice. Further, while public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as good practice, the company should have sought approval within three months. We do not support the resolution.
  • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed Shareholders’approval. Term of appointment is ambiguous.
  • Canara Robeco Mutual FundBhaskar Bhattacharya, 66, is the former Chairperson of Hooghly Tax Advocates Bar Association and Member of West Bengal Taxation Tribunal. He served on the board as Independent Director from 23 December 2021 till 22 December 2024 and attended all twelve (100%) board meetings held in FY25 during his tenure. The company now proposes to reappoint him for a second term from 13 May 2025. His reappointment as Independent Director is in line with the statutory requirements. As per public sources, Bhaskar Bhattacharya has political affiliations that, we believe, may unnecessarily politicise the decisions of the company. We do not support the resolution.
  • Invesco Mutual FundBhaskar Bhattacharya, 66, is the former Chairperson of Hooghly Tax Advocates Bar Association and Member of West Bengal Taxation Tribunal. He served on the board as Independent Director from 23 December 2021 till 22 December 2024 and attended all twelve (100%) board meetings held in FY25 during his tenure. The company now proposes to reappoint him for a second term from 13 May 2025. His reappointment as Independent Director is in line with the statutory requirements. As per public sources, Bhaskar Bhattacharya has political affiliations that, we believe, may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as part of the shareholder notice. Further, while public sector enterprises are exempt from the requirement of seeking shareholder approval within three months of the appointment date, as good practice, the company should have sought approval within three months. We do not support the resolution
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law.
  • Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law.
  • PPFAS Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law
  • quant Mutual FundNo concern on the merits of Directors. Non-compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Governance concern: Delayed shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • UTI Mutual FundPublic sources suggest he is politically affiliated.
  • WhiteOak Capital Mutual FundBhaskar Bhattacharya, 66, is the former Chairperson of Hooghly Tax Advocates Bar Association and Member of West Bengal Taxation Tribunal. Considering the lack of relevant experience and the current board profile, we recommend voting against. .

  12 for20 against
• SPECIAL - Appointment of Dr. Sudhir Mehta (DIN:00056867) as Part-Time Non-official Director (Independent Director) of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, quant Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, quant Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law.
  • Mirae Asset Mutual FundTerm of appointment is ambiguous and against spirit of the law.
  • PPFAS Mutual FundDelayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law

  22 for10 against
• ORDINARY - Appointment of M/s T. Chatterjee & Associates, Company Secretaries, as Secretarial Auditor of the Company.

  33 for0 against

• Unlisted stake heldNASince 30 Sep 2026

  0.00% bought in the quarter; holding 0.00%, from 0.00%

• Fine or penaltyBSE LimitedSince 25 Aug 2026

  Penal Action for Non‐Compliance

  Regulation 17(1)
• Fine or penaltyBSE LimitedSince 25 Aug 2026

  Penal Action for Non‐Compliance

  Regulation 18(1)
• Fine or penaltyBSE LimitedSince 25 Aug 2026

  Penal Action for Non‐Compliance

  Regulation 19(1)/ 19(2)
• Fine or penaltyBSE LimitedSince 25 Aug 2026

  Penal Action for Non‐Compliance

  Regulation 21(2)
• Fine or penaltyNational Stock Exchange of India limitedSince 25 Aug 2026

  Notice for non-compliance with SEBI (LODR) Regulations, 2015

  Regulation 17(1)
• Fine or penaltyNational Stock Exchange of India limitedSince 25 Aug 2026

  Notice for non-compliance with SEBI (LODR) Regulations, 2015

  Regulation 18(1)
• Fine or penaltyNational Stock Exchange of India limitedSince 25 Aug 2026

  Notice for non-compliance with SEBI (LODR) Regulations, 2015

  Regulation 19(1)/ 19(2)

In the company's own words, from its latest governance filing.

The board is made up as the listing rules require

No

The board has a regular chairperson

Yes

The company has a risk management committee

Yes

The chair is related to the managing director

No

The filing has a part on fines and penalties

Yes

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.