Rishabh Instruments MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 30 Jul 2025, 4 fund houses

• a. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2025, and the reports of the Board of Directors and Auditors thereon b.To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, together with the Report of the Auditors thereonMoreLess

  ›Against Nippon India Mutual Fund, quant Mutual Fund

  • Nippon India Mutual FundNon compliance to Companies Act & SEBI LODR regulations. Non-disclosure of audited financial statements of subsidiaries on the website of the Company.
  • quant Mutual FundUnqualified financial statements. Non-Compliant with S.136(1) of the Companies Act & Regulation 46(2)(s) of SEBI LODR: Non-disclosure of audited financial statements of subsidiaries on the website of the company.

  2 for2 against
• Mr. P. K. Ramakrishnan (DIN: 00304272), Director, liable to retire by rotation, who does not seek re-election at this Annual General Meeting and the vacancy caused by his retirement is not proposed to be filled up in this meetingMoreLess

  4 for0 against
• To appoint a Director in place of Mr. Dinesh Kumar Musalekar (DIN: 02039938) who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment and that on re-appointment there will not be any break in his service as a Whole-Time DirectorMoreLess

  4 for0 against
• To approve Amendment in ESOP Plan 2022 Scheme A

  ›Against Bandhan Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, quant Mutual Fund

  • Bandhan Mutual FundCompliant with law. Governance & Transparency concern: The clause pertaining to Exercise Period under ESOP Plan Scheme A is not clear, hence maximum Exercise period cannot be ascertained; Entire pool has been granted to one single employee and maximum intended benefit under Scheme has not been disclosed.
  • HDFC Mutual FundWe do not favor ESOPs given at significant discount to market price. We do not support the resolution.
  • Nippon India Mutual FundGovernance & Transparency concern: The clause pertaining to Exercise Period under ESOP Plan Scheme A is not clear, hence maximum Exercise period cannot be ascertained; Entire pool has been granted to one single employee and maximum intended benefit under Scheme has not been disclosed.
  • quant Mutual FundRelated to the amendment in the company’s ESOP plan. Compliant with the law. Governance & Transparency concern: The clause pertaining to Exercise Period under ESOP Plan Scheme A is not clear, hence maximum Exercise period cannot be ascertained; Entire pool has been granted to one single employee and maximum intended benefit under Scheme has not been disclosed.

  0 for4 against
• Appointment of M/s. KANJ & Co. LLP, Company Secretaries (Firm Registration Number: P2000MH005900) as the Secretarial Auditors of the Company for a term of 5 consecutive years

  ›Against Nippon India Mutual Fund, quant Mutual Fund

  • Nippon India Mutual FundNon disclosure of Proposed fee payable to Secretarial Auditors.
  • quant Mutual FundRelated to the appointment of secretarial auditor. No 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.

  2 for2 against
• To ratify the remuneration of the Cost Auditor for the Financial Year 2025-26

  4 for0 against
• Appointment of Mr. Rajendra Bagwe as an Independent Director of the Company

  4 for0 against
• Appointment of Mr. V. Subramaniam as an Independent Director of the Company

  4 for0 against

Mutual fund votes, meeting of 13 Sep 2024, 4 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 Financial Statements of the Company for the Financial Year ended March 31, 2024, and the reports of the Board of Directors and Auditors thereon

  4 for0 against
• To receive, consider and adopt the the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Report of the Auditors thereon

  4 for0 against
• To appoint a Director in place of Mr. P. K. Ramakrishnan (DIN: 00304272) who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment

  4 for0 against
• To appoint a Director in place of Mr. Narendra Goliya (DIN: 00315870) who retires by rotation at this Annual General Meeting and being eligible offers himself for re-appointment

  ›Against Bandhan Mutual Fund, Groww Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual FundNo concern on the merit of proposed appointee. Non-compliant with Companies Act, 2013: Not clear whether prior approval of shareholders was sought for continuation of directorship on attaining the age of 70 years or not. Governance concern: Chairman & Managing Director of the Company.

  2 for2 against
• To approve the continuation of the Directorship of Mr. P. K. Ramakrishnan (DIN: 00304272) as Non-Executive Director beyond the age of 75 years.

  4 for0 against
• To approve the continuation of the Directorship of Mr. Rathin Banerjee (DIN: 02101072) as Non-Executive Independent Director beyond the age of 75 years

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundCompliant with law. Governance concern: Prolonged association with the Company. Past association as Non-Independent director & appointed as an ID, without cooling off period. Not attended last AGM.

  1 for3 against
• To approve Amendment in ESOP Plan 2022 Scheme A

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundCompliant with law. Governance concern: Interlinked to #7 & #8.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  0 for4 against
• To approve Options Granted to the Employee of Subsidiary Company under ESOP Plan 2022 Scheme A (Mr. Dineshkumar Musalekar, President Lumel SA and Lumel Alucast)

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNon-compliance with Companies Act, 2013: Separate resolution not sought before the grant of the options. Governance concern: Quantum of benefits appears to be on the higher side.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  0 for4 against
• To approve options granted to the employees of Subsidiary Company under ESOP Plan 2022 Scheme A exceeding 1% (up to 2%) of the Issued Capital of the Company (Mr. Dineshkumar Musalekar, President Lumel SA and Lumel Alucast)MoreLess

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNon-compliance with Companies Act, 2013: Separate resolution not sought before the grant of the options. Governance concern: Quantum of benefits appears to be on the higher side.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  0 for4 against
• To change the designation of Mr. Dineshkumar Musalekar (DIN: 02039938) from Group ChiefnExecutive Officer to Whole Time Director of the Company.

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNo concern on the merit of proposed appointee. Governance concern: Remuneration open ended and not adequately capped, approval for remuneration precedes date of appointment. Holding 3 full-time positions.

  1 for3 against
• To approve variation in the terms of the contract or objects of the Issue

  ›Against Bandhan Mutual Fund, Groww Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual FundCompliant with law. Transparency concern: Inadequate disclosures.

  2 for2 against
• To approve the grant of options to employees of the Company under the Employee Stock Option Plan 2022 – Scheme B

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations: NRC has been given the discretion to alter the total pool of the scheme; not a specific disclosure as per SEBI Regulation requirement.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  0 for4 against
• To approve grant of options to the employees of subsidiaries of the Company under the Employee Stock Option Plan 2022, Scheme B

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations: NRC has been given the discretion to alter the total pool of the scheme; not a specific disclosure as per SEBI Regulation requirement.
  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  0 for4 against
• To adopt a new set of Memorandum of Association as per the Companies Act, 2013.

  4 for0 against
• To approve the extension of the time limit for the utilisation of funds raised in the Initial Public Offer (IPO)

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundNon-Compliance: Shareholders’ approval sought by the way of an ordinary resolution. Transparency concern: Inadequate disclosures.

  1 for3 against

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

No

There was a cyber security incident in the quarter

No

The company's own answers in its filing.