Reliance Infrastructure logo

Reliance Infrastructure CEO, MD, chairman, board of directors and AGM

NSE: RELINFRABSE: 500390PowerSmall Cap

Formerly Reliance Energy
Last close ₹49.47down ₹1.00 (1.98%)BSE ₹49.46

Share price at the NSE close on 23 Oct 2026. Previous close ₹50.47.

52-week range of traded prices to 23 Oct 2026
₹42.56Low, 30 Sep 2026₹236.90High, 23 Oct 2025
Market cap
₹2,021 Cr862nd largest listed
P/E
0.6
P/E without one-offs
1.0
P/B
0.1
Dividend yield
Nonein the last 12 months
ROE
19.9%
ROE without one-offs
12.6%
ROCE
1.5%
Debt to equity
0.17
Volume, NSE
18,922

Reliance Infrastructure board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • ChairpersonThomas Mathew
  • Chief executiveVijesh Babu Thota
  • Company Secretary and Compliance OfficerParesh Rathod

6 directors4 independent1 executive1 non-executive

  • Manjari KackerIndependent · joined Jun 2019 · reappointed Aug 2024 · 82 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Chhaya ViraniIndependent · joined Sep 2022 · reappointed Sep 2022 · 45 months as independent · 1 listed board · 1 as independent · 4 committee seats, 1 as chair
  • Virendra Singh VermaIndependent · joined May 2024 · reappointed May 2024 · 25 months as independent · 1 listed board · 1 as independent · 6 committee seats, 2 as chair
  • Thomas Mathew · ChairpersonIndependent · joined Oct 2024 · reappointed Oct 2024 · 21 months as independent · 2 listed boards · 2 as independent · 2 committee seats
  • Rajesh Kumar DhingraNon-executive · joined Apr 2025 · reappointed Apr 2025 · 1 listed board
  • Vijesh Babu Thota · Chief executiveExecutive · joined May 2025 · reappointed May 2025 · 1 listed board · 1 committee seat

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

4 directors who left
  • Partha Pratim Sarma, left 8 Aug 2025: Others
  • Punit Narendra Garg, left 1 Apr 2025: Others
  • Sateesh Seth, left 15 Nov 2024: Others
  • Dalip Kumar Kaul, left 1 Oct 2024: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 23 May 20266 of 6 present4 independent · 53 days in between
    • 30 Mar 20266 of 6 present4 independent · 22 days in between
    • 7 Mar 20266 of 6 present4 independent · 24 days in between
    • 10 Feb 20266 of 6 present4 independent · 9 days in between
    1 earlier meeting
    • 31 Jan 20266 of 6 present4 independent

  • Audit Committee

    Chair Manjari Kacker

    Chhaya Virani, Virendra Singh Verma, Thomas Mathew

    • 23 May 20264 of 4 present4 independent · 53 days in between
    • 30 Mar 20264 of 4 present4 independent · 22 days in between
    • 7 Mar 20264 of 4 present4 independent · 24 days in between
    • 10 Feb 20264 of 4 present4 independent · 6 days in between
    3 earlier meetings
    • 3 Feb 20264 of 4 present4 independent · 2 days in between
    • 31 Jan 20264 of 4 present4 independent · 10 days in between
    • 20 Jan 20264 of 4 present4 independent

  • Nomination and remuneration committee

    Chair Virendra Singh Verma

    Chhaya Virani, Manjari Kacker, Thomas Mathew

    • 23 May 20264 of 4 present4 independent

  • Stakeholders Relationship Committee

    Chair Chhaya Virani

    Manjari Kacker, Virendra Singh Verma, Vijesh Babu Thota

    • 23 May 20264 of 4 present3 independent · 111 days in between
    • 31 Jan 20264 of 4 present3 independent

  • Risk Management Committee

    Chair Virendra Singh Verma

    Chhaya Virani, Manjari Kacker, Thomas Mathew, Vijesh Babu Thota, Kaushik Patra

    • 23 May 20265 of 5 present4 independent · 111 days in between
    • 31 Jan 20265 of 5 present4 independent

  • Corporate Social Responsibility Committee

    • 23 May 20265 of 5 present4 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • Chaturvedi & Shah LLPPeer-review certificate valid to Jun 2026

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Reliance Infrastructure 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.Reliance Infrastructure dividend history

Annual general meeting, 14 Aug 2026

6,73,714 shareholders on the register on 7 Aug 2026; present: 2 promoters and 160 others; votes counted by Anil Lohia / Dayal and Lohia.The company's voting result (opens in a new tab)

  1. To consider and adopt: a)the audited financial statement of the Company for the financial year ended March 31, 2026 and the reports of the Board of Directors and Auditors thereon; and b)the audited consolidated financial statement of the Company for the financial year ended March 31, 2026 and the report of the Auditors thereon.MoreLess
    Ordinary
    89.97% for10.03% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.40%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

  2. To appoint a director in place of Shri Rajesh Kumar Dhingra (DIN: 03612092), who retires by rotation under the provisions of the Companies Act, 2013, and being eligible, offers himself for reappointment.MoreLess
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

  3. Appointment of Statutory Auditors
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

  4. Appointment of Secretarial Auditors
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

  5. Remuneration to Cost Auditors
    Ordinary
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.40%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

  6. Issue of securities through Qualified Institutions Placement
    Special
    89.98% for10.02% against

    Against: promoters 0.00% · institutions 100.00% · other public 0.39%

    Turnout: all 42.29% · promoters 99.52% · institutions 78.87% · other public 25.33%

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.

Postal ballot, 18 Dec 2025, 2 resolutions

7,39,306 shareholders on the register on 14 Nov 2025; votes counted by Anil Lohia / Dayal and Lohia.The company's voting result (opens in a new tab)

  1. Issuance of Foreign Currency Convertible Bonds/ other securities
    Special
    97.94% for2.06% against

    Against: promoters 0.00% · institutions 16.00% · other public 0.31%

    Turnout: all 43.28% · promoters 99.65% · institutions 69.75% · other public 25.98%

  2. Enabling Borrowing Power of the Company
    Special
    89.43% for10.57% against

    Against: promoters 0.00% · institutions 86.90% · other public 0.30%

    Turnout: all 43.28% · promoters 99.65% · institutions 69.75% · other public 25.98%

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.

Annual general meeting, 8 Aug 2025, 7 resolutions

7,40,029 shareholders on the register on 1 Aug 2025; present: 6 promoters and 144 others; votes counted by Anil Lohia / Dayal and Lohia.The company's voting result (opens in a new tab)

  1. ORDINARY - To consider and adopt: a)the audited financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon, and b)the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.MoreLess
    Ordinary
    86.73% for13.27% against

    Against: promoters 0.00% · institutions 84.44% · other public 0.18%

    Turnout: all 41.34% · promoters 83.59% · institutions 69.51% · other public 26.46%

  2. Shri Partha Pratim Sarma (DIN: 08245533), Director liable to retire by rotation, who does not seek re-election.
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 0.79% · other public 0.14%

    Turnout: all 41.37% · promoters 83.59% · institutions 69.83% · other public 26.46%

  3. Re-appointment of Statutory Auditors
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 41.37% · promoters 83.59% · institutions 69.83% · other public 26.46%

  4. Appointment of Secretarial Auditors
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 41.37% · promoters 83.59% · institutions 69.83% · other public 26.46%

  5. Remuneration to Cost Auditors
    Ordinary
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.14%

    Turnout: all 41.37% · promoters 83.59% · institutions 69.83% · other public 26.46%

  6. Issue of securities through qualified institutions placement
    Special
    96.88% for3.12% against

    Against: promoters 0.00% · institutions 19.41% · other public 0.17%

    Turnout: all 41.38% · promoters 83.59% · institutions 69.83% · other public 26.46%

  7. Issue of Non-Convertible Debentures
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.15%

    Turnout: all 41.38% · promoters 83.59% · institutions 69.83% · other public 26.46%

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.

Postal ballot, 29 Jun 2025, 2 resolutions

6,93,384 shareholders on the register on 23 May 2025; votes counted by Anil Lohia / Dayal and Lohia.The company's voting result (opens in a new tab)

  1. Appointment of Shri Rajesh Kumar Dhingra (DIN: 03612092) as Non-Executive Non-Independent Director
    Ordinary
    99.21% for0.79% against

    Against: promoters 0.00% · institutions 3.41% · other public 0.14%

    Turnout: all 46.75% · promoters 99.58% · institutions 72.94% · other public 29.09%

  2. Appointment of Shri Vijesh Babu Thota (DIN: 09128139) as an Executive Director
    Ordinary
    81.98% for18.02% against

    Against: promoters 0.00% · institutions 83.71% · other public 0.14%

    Turnout: all 46.75% · promoters 99.58% · institutions 72.94% · other public 29.09%

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.

Postal ballot, 23 Mar 2025, 1 resolution

7,01,575 shareholders on the register on 14 Feb 2025; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. Alteration of the Articles of Association of the Company
    SpecialPromoters have an interest in it
    99.95% for0.05% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.10%

    Turnout: all 47.62% · promoters 99.58% · institutions 72.86% · other public 31.75%

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.

Postal ballot, 10 Feb 2025, 1 resolution

7,05,508 shareholders on the register on 3 Jan 2025; votes counted by Anil Lohia / Dayal and Lohia, Chartered Accountants.The company's voting result (opens in a new tab)

  1. Appointment of Shri Partha Pratim Sarma (DIN: 08245533) as Non-Executive Non-Independent Director
    Ordinary
    99.55% for0.45% against

    Against: promoters 0.00% · institutions 2.24% · other public 0.13%

    Turnout: all 47.57% · promoters 99.58% · institutions 76.60% · other public 31.60%

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.

Postal ballot, 3 Nov 2024, 3 resolutions

The company's voting result (opens in a new tab)

  1. Appointment of Dr. Thomas Mathew (DIN: 05203948) as an Independent Director
    Special
    99.65% for0.35% against

    Against: promoters 0.00% · institutions 2.04% · other public 0.08%

    Turnout: all 49.71% · promoters 100.00% · institutions 75.82% · other public 34.99%

  2. Introduction and Implementation of ‘Reliance Infrastructure Employee Stock Option Scheme 2024'
    Special
    85.90% for14.10% against

    Against: promoters 0.00% · institutions 94.07% · other public 0.11%

    Turnout: all 49.70% · promoters 100.00% · institutions 75.82% · other public 34.98%

  3. Extension of 'Reliance Infrastructure Employee Stock Option Scheme 2024' to the employees of group companies including subsidiaries, associates and holding company
    Special
    85.84% for14.16% against

    Against: promoters 0.00% · institutions 94.07% · other public 0.23%

    Turnout: all 49.70% · promoters 100.00% · institutions 75.82% · other public 34.98%

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.

Postal ballot, 19 Oct 2024, 3 resolutions

The company's voting result (opens in a new tab)

  1. Issue of securities on Preferential Basis
    Special
    98.31% for1.69% against

    Against: promoters 0.00% · institutions 10.21% · other public 0.19%

    Turnout: all 48.33% · promoters 99.58% · institutions 71.81% · other public 33.36%

  2. Appointment of Ms. Manjari Kacker (DIN:06945359) as an Independent Director
    Special
    98.34% for1.66% against

    Against: promoters 0.00% · institutions 10.21% · other public 0.13%

    Turnout: all 48.32% · promoters 99.58% · institutions 71.81% · other public 33.35%

  3. Issue of securities through qualified institutions placement on a private placement basis to the qualified institutional buyers
    Special
    98.31% for1.69% against

    Against: promoters 0.00% · institutions 10.21% · other public 0.19%

    Turnout: all 48.33% · promoters 99.58% · institutions 71.81% · other public 33.36%

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.

How mutual funds voted

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

Mutual fund votes, meeting of 18 Dec 2025, 15 fund houses

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

  • Issuance of Foreign Currency Convertible Bonds/ other securities
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance concern: Proposed issue is interlinked with increase in borrowing limits under resolution #2, which has governance and transparency concerns.
    • Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance concern: While no inherent issues with the proposed issuance, proposed issue is interlinked with increase in borrowing limits under resolution #2, which has governance and transparency concerns.
    • ICICI Prudential Mutual FundSince the proposed issue is interlinked with increase in borrowing limits under resolution #2, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundThe company seeks approval to raise funds through issuance of Foreign Currency Convertible Bonds (FCCBs) or similar convertible securities of up to USD 600.0 mn (~Rs. 54.0 bn). As on 31 March 2025, the company s standalone debt stood at Rs. 4.7 bn and consolidated debt at Rs. 62.9 bn. The company has a history of debt defaults, and some subsidiaries remain in default. Its standalone credit rating is IND B/Stable/IND A4. Company has not placed an upper cap on the maximum borrowing limits. While it may be difficult to ascertain such value in an enabling approval for the Company, this makes it all the more pertinent to justify the basis of arriving at the proposed limit in clear and detailed manner. In the absence of disclosure, we cannot make informed decision. Hence, we do not favour the resolution.
    7 for8 against
  • Enabling Borrowing Power of the Company
    Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund
    • Angel One Mutual FundGovernance & Transparency concern: Proposed limit is unspecified as it is linked to the legal limits and no absolute cap has been placed; No specific reason/justification provided for the proposed increase and no clarity regarding how the significantly increased limits will be utilized.
    • Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Navi Mutual FundCompliant with law. Governance & Transparency concern: Proposed limit is unspecified as it is linked to the legal limits and no absolute cap has been placed; No specific reason/justification provided for the proposed increase and no clarity regarding how the significantly increased limits will be utilized.
    • HDFC Mutual FundThe resolution seeks approval for a borrowing limit of up to five times the aggregate of paid-up capital, free reserves and securities premium, which is high. Further, the proposed borrowing limit is a rolling borrowing limit that is linked to net worth with no granular disclosures and lack of a detailed rationale regarding the utilization of this borrowing limit. The company must also indicate the capital structure it seeks to maintain as it raises debt. We do not support the resolution.
    • ICICI Prudential Mutual FundDue to a) inadequate justification for significant increase in borrowing limits, and b) the absence of proposed limit, the AMC has voted against the resolution.
    • Kotak Mahindra Mutual FundThe company has defaulted in repayment of debt in the past and a few of the subsidiaries of the companies were still in default as on 30 September 2025. The outstanding credit rating of the company (on a standalone basis) is IND B/Stable/IND A4. We recognize that the company may require funds for business expansion. However, the resolution seeks approval for a borrowing limit of up to five times the aggregate of paid-up capital, free reserves and securities premium, which is high. Further, the proposed borrowing limit is a rolling borrowing limit that is linked to net worth with no granular disclosures and lack of a detailed rationale regarding the utilization of this borrowing limit. The company must also indicate the capital structure it seeks to maintain as it raises debt. We do not support the resolution.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    • Nippon India Mutual FundGovernance & Transparency concern: No absolute cap on limits, lacking justification for increase/utilization plan—prevents dilution/shareholder impact assessment, breaching SEBI SBEB/Companies Act disclosure requirements
    1 for11 against
2 proposals not matched to one resolution
  • 2) Approve increase in borrowing limit up to five times of the aggregate of paid-up capital, free reserves, and securities premium account.
    Against SBI Mutual Fund
    • SBI Mutual FundThe company has defaulted in repayment of debt in the past and a few of the subsidiaries of the companies were still in default as on 30 September 2025. The outstanding credit rating of the company (on a standalone basis) is IND B/Stable/IND A4. We recognize that the company may require funds for business expansion. However, the resolution seeks approval for a borrowing limit of up to five times the aggregate of paid-up capital, free reserves and securities premium, which is high. Further, the proposed borrowing limit is a rolling borrowing limit that is linked to net worth with no granular disclosures and lack of a detailed rationale regarding the utilization of this borrowing limit. The company must also indicate the capital structure it seeks to maintain as it raises debt. We do not support the resolution.
    0 for1 against
  • Approve increase in borrowing limit up to five times of the aggregate of paid-up capital, free reserves, and securities premium account
    Against Jio BlackRock Mutual Fund, UTI Mutual Fund
    • Jio BlackRock Mutual Fund, UTI Mutual FundThe company has defaulted in repayment of debt in the past and a few of the subsidiaries of the companies were still in default as on 30 September 2025. The outstanding credit rating of the company (on a standalone basis) is IND B/Stable/IND A4. We recognize that the company may require funds for business expansion. However, the resolution seeks approval for a borrowing limit of up to five times the aggregate of paid-up capital, free reserves and securities premium, which is high. Further, the proposed borrowing limit is a rolling borrowing limit that is linked to net worth with no granular disclosures and lack of a detailed rationale regarding the utilization of this borrowing limit. The company must also indicate the capital structure it seeks to maintain as it raises debt. We do not support the resolution.
    0 for2 against

Mutual fund votes, meeting of 8 Aug 2025, 6 fund houses

  • ORDINARY - To consider and adopt: a)the audited financial statement of the Company for the financial year ended March 31, 2025 and the reports of the Board of Directors and Auditors thereon, and b)the audited consolidated financial statement of the Company for the financial year ended March 31, 2025 and the report of the Auditors thereon.MoreLess
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundGovernance Concern: Implications transfer of economic rights of a Settlement Agreement (for recovery of dues); and Compliance Concern: As per Statutory Auditor, the Financial Statements are not compliant with the Indian Accounting Standards viz., inaccurate adjustments of loss on invocation of share and/or fair value of said shares. Uncertainty highlighted on going concern by the auditors.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundDisclaimer of opinion given by Statutory Auditors on Standalone and Consolidated Financial statements w.r.t Governance Concern: Implications transfer of economic rights of a Settlement Agreement (for recovery of dues); and Compliance Concern: As per Statutory Auditor, the Financial Statements are not compliant with the Indian Accounting Standards viz., inaccurate adjustments of loss on invocation of share and/or fair value of said shares. Uncertainty highlighted on going concern by the auditors.
    • Mirae Asset Mutual FundAs per advisory recommendation (passive holding)
    1 for5 against
  • Shri Partha Pratim Sarma (DIN: 08245533), Director liable to retire by rotation, who does not seek re-election.
    6 for0 against
  • Re-appointment of Statutory Auditors
    6 for0 against
  • Appointment of Secretarial Auditors
    6 for0 against
  • Remuneration to Cost Auditors
    6 for0 against
  • Issue of securities through qualified institutions placement
    6 for0 against
  • Issue of Non-Convertible Debentures
    6 for0 against
5 earlier meetings

Mutual fund votes, meeting of 29 Jun 2025, 5 fund houses

  • Appointment of Shri Rajesh Kumar Dhingra (DIN: 03612092) as Non-Executive Non-Independent Director
    5 for0 against
  • Appointment of Shri Vijesh Babu Thota (DIN: 09128139) as an Executive Director
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Angel One Mutual FundApproval for executive remuneration as Whole-Time Director/Chief Financial Officer not proposed to shareholders.
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliant with the Companies Act, 2013: Approval for executive remuneration as WTD/CFO not proposed to shareholders.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    0 for5 against

Mutual fund votes, meeting of 23 Mar 2025, 4 fund houses

  • Alteration of the Articles of Association of the Company
    4 for0 against

Mutual fund votes, meeting of 10 Feb 2025, 4 fund houses

  • Appointment of Shri Partha Pratim Sarma (DIN: 08245533) as Non-Executive Non-Independent Director
    Against Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concerns have been identified w.r.t. the merits of the proposed appointee. Transparency Concern: Weather the director engaged in handling of Corporate development (Whole-time position) at Reliance Infrastructure Ltd.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    0 for4 against

Mutual fund votes, meeting of 3 Nov 2024, 3 fund houses

  • Appointment of Dr. Thomas Mathew (DIN: 05203948) as an Independent Director
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNo concern identified on the merits of appointee. Non-Compliant with Section 149 of the Companies Act, 2013: 3 years not lapsed since cessation of Independent Directorship. Governance concern: Proposed appointment as ID would lead to his prolonged association with the group.
    0 for3 against
  • Introduction and Implementation of ‘Reliance Infrastructure Employee Stock Option Scheme 2024'
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: Inadequate disclosures regarding Exercise price. Governance concern: Possibility of potential excessive benefits to single employee.
    0 for3 against
  • Extension of 'Reliance Infrastructure Employee Stock Option Scheme 2024' to the employees of group companies including subsidiaries, associates and holding company
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundInterlinked to resolution no. #2. Governance concern: Extension of scheme to employees of group companies other than subsidiary companies without compelling reasons / no clarity whether cost will be reimbursed to the Company.
    0 for3 against

Mutual fund votes, meeting of 19 Oct 2024, 3 fund houses

  • Issue of securities on Preferential Basis
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with Law. Governance Concern: Warrants being priced based on formula to price equity shares as per SEBI ICDR despite both being different instruments. No urgent need of funds. Lack of clarity regarding basis of selecting allottees. Cumulative dilution appears to be excessive.
    0 for3 against
  • Appointment of Ms. Manjari Kacker (DIN:06945359) as an Independent Director
    Against Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund
    • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorship, Prior approval of shareholders not sought for re-appointment as ID. Governance concern: Prolonged association with the Group.
    0 for3 against
  • Issue of securities through qualified institutions placement on a private placement basis to the qualified institutional buyers
    3 for0 against

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

Tax disputes

Reported in the filing for the quarter to Jun 2026.

  • Tax disputeDirector General of Foreign Trade,Delhi ( Foreign Trade Policy-FTP)Since 15 Mar 2011
    No change in status.
    At the filing before: Appeal pending before Supreme Court.
  • Tax disputeIncome Tax DepartmentSince 15 Jul 2015
    No change in status.
    At the filing before: Matter not heard. Yet to be Listed for further date.
  • Tax disputeIncome Tax DepartmentSince 29 Nov 2017
    Appeal admitted and pending for final hearing.
    At the filing before: Matter to be Listed for further date.
  • Tax disputeIncome Tax DepartmentSince 10 Jul 2018
    Appeal partially admitted and pending for final hearing.
    At the filing before: Appeal admitted and pending for final hearing.
  • Tax disputeIncome Tax DepartmentSince 4 Oct 2022
    ITAT Order received with respect to appeal filed against CIT(A) order filed in connection with the Rectification Order u/s. 154. Appeal pending before CIT(A) in respect of Assessment Order u/s. 143(3).MoreLess
    At the filing before: Appeal is pending before CIT (A). However, we have made submissions in response to all notices issued.
  • Tax disputeCommissioner,Trade and Taxes, Delhi (Delhi Vat)Since 1 Sep 2022
    No change in status.
    At the filing before: Appeal Pending Before Supreme Court.
  • Tax disputeIncome Tax DepartmentSince 20 Sep 2023
    No change in status.
    At the filing before: Pending before Bombay High Court, No further improvement.

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

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved

Open at the quarter's end

At most 3 complaints open, quarter to Sep 2025.
The board is made up as the listing rules require
Yes
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
No
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
Yes

The company's own answers in its filing.

How money raised was used

Reported for the quarter to Jun 2025. The company's results filing for the quarter to Jun 2026 says no statement of how money raised was used applies to it. A preferential issue sells new shares to chosen investors rather than to the public. A warrant or partly paid issue plans the whole issue while the money comes in over time, so the amount set aside can be more than raised so far.

RaisedAmount raisedForSet asideSpentSpent elsewhere
Preferential IssuesOct 2024, checked by Infomerics Vaulation and Rating Limited276.00––No
Preferential IssuesOct 2024, checked by Infomerics Vaulation and Rating Limited477.60––No
OthersJun 2025, checked by Infomerics Valuation and Rating Limited225.00––No
₹ crore. Checked by is the agency appointed to monitor how the money is used. The reason and the comments are the company's, its audit committee's and its auditors' own words.