RattanIndia Enterprises logo

RattanIndia Enterprises MD, chairman, board of directors and AGM

NSE: RTNINDIABSE: 534597RetailingSmall Cap

Formerly RattanIndia Infrastructure
Last close ₹23.09down ₹0.47 (1.99%)BSE ₹23.09

Share price at the NSE close on 23 Oct 2026. Previous close ₹23.56.

52-week range of traded prices to 23 Oct 2026
₹22.52Low, 23 Oct 2026₹54.39High, 27 Oct 2025
Market cap
₹3,192 Cr805th largest listed
P/E
Lossover the last 12 months
P/B
4.2
Dividend yield
Nonein the last 12 months
ROE
−77.3%
ROCE
−36.4%
Debt to equity
1.38
Volume, NSE
13,37,51447.8% delivered

RattanIndia Enterprises board of directors

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

  • ChairpersonRajiv RattanRelated to the promoter
  • Company Secretary and Compliance OfficerRahul Mutreja

6 directors3 independent1 executive2 non-executive

  • Rajiv Rattan · ChairpersonNon-executive · joined Feb 2012 · 2 listed boards · 3 committee seats
  • Anjali NashierNon-executive · joined Dec 2021 · 1 listed board
  • Rajesh KumarExecutive · joined Jan 2021 · 1 listed board · 1 committee seat
  • Ajay Kumar TandonIndependent · joined Sep 2024 · reappointed Sep 2024 · 24 months as independent · 2 listed boards · 2 as independent · 5 committee seats, 3 as chair
  • Virender SinghIndependent · joined Sep 2024 · reappointed Sep 2024 · 24 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 2 as chair
  • Pritika PooniaIndependent · joined Nov 2022 · reappointed Nov 2022 · 46 months as independent · 2 listed boards · 2 as independent · 3 committee seats

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.

Committees and meetings

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

  • Board

    • 4 Sep 20265 of 6 present3 independent · 29 days in between
    • 5 Aug 20266 of 6 present3 independent · 67 days in between
    • 29 May 20264 of 6 present1 independent · 49 days in between
    • 9 Apr 20266 of 6 present3 independent

  • Audit Committee

    Chair Virender Singh

    Rajiv Rattan, Ajay Kumar Tandon, Pritika Poonia

    • 4 Sep 20264 of 4 present3 independent · 29 days in between
    • 5 Aug 20264 of 4 present3 independent · 67 days in between
    • 29 May 20263 of 4 present2 independent

  • Nomination and remuneration committee

    Chair Ajay Kumar Tandon

    Rajiv Rattan, Virender Singh

    • 5 Aug 20263 of 3 present2 independent · 18 days in between

  • Stakeholders Relationship Committee

    Chair Ajay Kumar Tandon

    Rajiv Rattan, Rajesh Kumar

    • 17 Jul 20262 of 3 present1 independent · 80 days in between
    • 27 Apr 20262 of 3 present1 independent

  • Risk Management Committee

    Chair Rajiv Rattan

    Ajay Kumar Tandon, Rajesh Kumar, Ashok Kumar Sharma

    • 5 Aug 20263 of 3 present1 independent

  • Corporate Social Responsibility Committee

    Chair Ajay Kumar Tandon

    Rajesh Kumar, Pritika Poonia

    No meeting listed in the filing.

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.

  • Walker Chandiok & Co LLPPeer-review certificate valid to May 2028

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.

RattanIndia Enterprises 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.RattanIndia Enterprises share news and announcements

Annual general meeting, 24 Sep 2026

3,94,482 shareholders on the register on 17 Sep 2026; present: 5 promoters and 59 others; votes counted by Sanjay Khandelwal / S. Khandelwal & Co..The company's voting result (opens in a new tab)

  1. To consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, and the reports of the Board of Directors and Auditors thereon.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.76% · promoters 100.00% · institutions 97.62% · other public 8.09%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, and the reports of the Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.76% · promoters 100.00% · institutions 97.62% · other public 8.09%

  3. To appoint a director in place of Mr. Rajesh Kumar (DIN: 03291545) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.37%

    Turnout: all 81.76% · promoters 100.00% · institutions 97.62% · other public 8.09%

  4. To approve payment of remuneration to Mr. Rajiv Rattan, Non-executive Chairman and Promoter of the company and for holding an office or place of profit
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.37%

    Turnout: all 81.76% · promoters 100.00% · institutions 97.62% · other public 8.09%

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.

Annual general meeting, 26 Sep 2025, 5 resolutions

4,36,066 shareholders on the register on 19 Sep 2025; present: 6 promoters and 55 others; votes counted by Sanjay Khandelwal / S. Khandelwal & Co..The company's voting result (opens in a new tab)

  1. To 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.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 77.50% · promoters 100.00% · institutions 23.02% · other public 6.32%

  2. To consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, and the reports of the Auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 77.50% · promoters 100.00% · institutions 23.02% · other public 6.32%

  3. To appoint a director in place of Mr. Rajiv Rattan (DIN: 00010849) who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 4.96% · other public 0.05%

    Turnout: all 77.50% · promoters 100.00% · institutions 23.02% · other public 6.32%

  4. Re-appointment of M/s. Walker Chandiok & Co LLP, Chartered Accountants (FRN: 001076N/N500013) as Statutory Auditors of the Company.
    Ordinary
    99.96% for0.04% against

    Against: promoters 0.00% · institutions 1.86% · other public 0.06%

    Turnout: all 77.50% · promoters 100.00% · institutions 23.02% · other public 6.32%

  5. Appointment of M/s S. Khandelwal & Co., Practicing Company Secretaries (ICSI Firm Registration No. S2004DE074400) as Secretarial Auditors of the Company.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.05%

    Turnout: all 77.50% · promoters 100.00% · institutions 23.02% · other public 6.32%

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, 30 Sep 2024, 5 resolutions

Present: 6 promoters and 58 others.The company's voting result (opens in a new tab)

  1. To recevive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2024 and the report of the Board of Directors and auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.63% · promoters 100.00% · institutions 21.17% · other public 8.51%

  2. To receive, consider and adopt audited consolidated financial statements of the Company for the financial year ended March 31, 2024, and reports of the auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.63% · promoters 100.00% · institutions 21.17% · other public 8.51%

  3. To appoint a director in place of Mrs. Anjali Nashier (DIN: 01942221), who retires by rotation and being eligible, offers herself for re-appointment
    Ordinary
    98.71% for1.29% against

    Against: promoters 0.00% · institutions 95.54% · other public 0.01%

    Turnout: all 77.63% · promoters 100.00% · institutions 21.17% · other public 8.51%

  4. Appointment of Dr. Virender Singh (DIN: 05215919) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 77.63% · promoters 100.00% · institutions 21.17% · other public 8.51%

  5. Appointment of Mr. Ajay Kumar Tandon (DIN: 07087682) as an Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 77.63% · promoters 100.00% · institutions 21.17% · other public 8.51%

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, 29 Sep 2023, 4 resolutions

Present: 6 promoters and 47 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023 and the reports of the Board of Directors and auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 84.17% · promoters 100.00% · institutions 88.47% · other public 6.13%

  2. To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reports of the auditors thereon.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.04%

    Turnout: all 84.17% · promoters 100.00% · institutions 88.47% · other public 6.13%

  3. To appoint a Director in place of Mr. Rajesh Kumar (DIN: 03291545), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.10% · other public 0.14%

    Turnout: all 84.17% · promoters 100.00% · institutions 88.47% · other public 6.13%

  4. To appoint Mr. Rahul Gochhwal as President-Fintech Business, a related party and for holding the office of place of profit.
    OrdinaryPromoters have an interest in it
    94.89% for5.11% against

    Against: promoters 0.00% · institutions 5.34% · other public 3.08%

    Turnout: all 9.32% · promoters 0.00% · institutions 88.47% · other public 6.13%

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, 9 Jun 2023, 1 resolution

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

  1. TO CONSIDER AND APPROVE RAISING FUNDS THROUGH QUALIFIED INSTITUTIONAL PLACEMENT (QIP) AND OTHER PERMISSIBLE MODES
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 76.30% · promoters 100.00% · institutions 5.91% · other public 5.98%

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.

Extraordinary general meeting, 7 Feb 2023, 3 resolutions

Present: 4 promoters and 44 others.The company's voting result (opens in a new tab)

  1. Appointment of Mrs. Pritika Poonia (DIN: 06715564) as an Independent Woman Director of the Company
    Special
    99.67% for0.33% against

    Against: promoters 0.00% · institutions 45.24% · other public 0.01%

    Turnout: all 75.89% · promoters 100.00% · institutions 5.80% · other public 3.38%

  2. Appointment of Mr. Rajesh Kumar (DIN: 03291545), Non-executive Director of the Company as a Whole-Time Director (Executive Director) & Key Managerial Personnel of the Company, for a period of five years, with effect from April 01, 2023.MoreLess
    Ordinary
    99.32% for0.68% against

    Against: promoters 0.00% · institutions 93.68% · other public 0.00%

    Turnout: all 75.89% · promoters 100.00% · institutions 5.80% · other public 3.38%

  3. Approval to the Related Party Transactions seeking financial assistance from certain related parties
    OrdinaryPromoters have an interest in it
    52.30% for47.70% against

    Against: promoters 0.00% · institutions 93.68% · other public 0.00%

    Turnout: all 1.08% · promoters 0.00% · institutions 5.80% · other public 3.38%

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, 30 Sep 2022, 3 resolutions

Present: 3 promoters and 43 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2022 and the reports of the Board of Directors and auditors thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 2.05% · other public 0.02%

    Turnout: all 75.58% · promoters 100.00% · institutions 5.60% · other public 1.54%

  2. To appoint a Director in place of Mr. Rajiv Rattan (DIN: 00010849), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.62% for0.38% against

    Against: promoters 0.00% · institutions 54.46% · other public 0.18%

    Turnout: all 75.58% · promoters 100.00% · institutions 5.60% · other public 1.54%

  3. Appointment of Mrs. Anjali Nashier (DIN: 01942221) as a Director liable to retire by rotation.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.59%

    Turnout: all 75.58% · promoters 100.00% · institutions 5.60% · other public 1.54%

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 Aug 2022, 7 resolutions

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

  1. APPROVAL TO THE INSTITUTION OF EMPLOYEES STOCK OPTIONS PLAN “RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022”
    Special
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.40%

    Turnout: all 82.69% · promoters 99.83% · institutions 77.27% · other public 4.60%

  2. APPROVAL TO GRANT OF EMPLOYEE STOCK OPTIONS TO THE EMPLOYEES OF A GROUP COMPANY INCLUDING SUBSIDIARY COMPANY(IES) OR ASSOCIATE COMPANY, IF ANY, OF THE COMPANY UNDER RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022MoreLess
    Special
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.47%

    Turnout: all 82.69% · promoters 99.83% · institutions 77.27% · other public 4.60%

  3. APPROVAL FOR GRANT OF EMPLOYEE STOCK OPTIONS TO THE IDENTIFIED EMPLOYEE(S) DURING ANY ONE YEAR, EQUAL TO OR EXCEEDING ONE PERCENT OF THE ISSUED CAPITAL OF THE COMPANY AT THE TIME OF GRANT OF EMPLOYEE STOCK OPTIONS.MoreLess
    Special
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.44%

    Turnout: all 82.69% · promoters 99.83% · institutions 77.27% · other public 4.60%

  4. APPROVAL OF TRUST ROUTE FOR THE IMPLEMENTATION OF RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022
    Special
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.43%

    Turnout: all 82.69% · promoters 99.83% · institutions 77.27% · other public 4.60%

  5. APPROVAL FOR PROVISION OF MONEY BY THE COMPANY FOR PURCHASE OF ITS OWN SHARES BY THE TRUST / TRUSTEES FOR THE BENEFIT OF EMPLOYEES UNDER RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022
    Special
    99.41% for0.59% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.38%

    Turnout: all 82.69% · promoters 99.83% · institutions 77.27% · other public 4.60%

  6. ALTERNATION IN THE OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.37%

    Turnout: all 82.70% · promoters 99.83% · institutions 77.27% · other public 4.64%

  7. APPROVAL TO THE RELATED PARTY TRANSACTION WITH RATTANINDIA POWER LIMITED
    OrdinaryPromoters have an interest in it
    93.97% for6.03% against

    Against: promoters 0.00% · institutions 6.60% · other public 0.39%

    Turnout: all 8.02% · promoters 0.00% · institutions 77.27% · other public 4.64%

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 24 Sep 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • To consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2026, and the reports of the Board of Directors and Auditors thereon.
    1 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2026, and the reports of the Auditors thereon
    1 for0 against
  • To appoint a director in place of Mr. Rajesh Kumar (DIN: 03291545) who retires by rotation and being eligible, offers himself for re-appointment.
    1 for0 against
  • To approve payment of remuneration to Mr. Rajiv Rattan, Non-executive Chairman and Promoter of the company and for holding an office or place of profit
    Against Angel One Mutual Fund
    • Angel One Mutual FundDisclosures as required under Schedule V to the Companies Act, 2013 were not made in the explanatory statement. Governance concern: Excessive time commitment as the director holds 2 full-time positions; Unclear if the proposed remuneration is fair in the absence of past remuneration history of the Company; Proposed remuneration appears to be skewed in favor of Promoter Non-executive Director and no adequate justification; Director is an Nomination and Remuneration Committee member which has recommended such skewed and exclusive remuneration.
    0 for1 against

Mutual fund votes, meeting of 26 Sep 2025, 14 fund houses

  • To 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.
    14 for0 against
  • To consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2025, and the reports of the Auditors thereon.
    14 for0 against
  • To appoint a director in place of Mr. Rajiv Rattan (DIN: 00010849) who retires by rotation and being eligible, offers himself for re-appointment.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundGovernance concern: Excessive time commitment as the director holds 2 Full time positions.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundCompliant with Law. No concern identified on the merits of director. Governance concern: Excessive time commitment as the director holds 2 Full time positions.
    8 for6 against
  • Re-appointment of M/s. Walker Chandiok & Co LLP, Chartered Accountants (FRN: 001076N/N500013) as Statutory Auditors of the Company.
    Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Kotak Mahindra Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund
    • Angel One Mutual FundProposed audit fee payable to Statutory Auditors not disclosed.
    • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNo concern on merits of the proposed Statutory Auditors. Non-Compliant with Regulation 36(5) of SEBI LODR: Proposed audit fee payable to Statutory Auditors not disclosed.
    • Kotak Mahindra Mutual FundThey were paid Rs. 3.2 mn as audit remuneration (excluding applicable taxes) on a standalone basis for FY25. But, The company has not disclosed the proposed remuneration payable to Walker Chandiok & Co. LLP, which is a regulatory requirement. Hence, we do not support the resolution.
    7 for7 against
  • Appointment of M/s S. Khandelwal & Co., Practicing Company Secretaries (ICSI Firm Registration No. S2004DE074400) as Secretarial Auditors of the Company.
    14 for0 against
6 earlier meetings

Mutual fund votes, meeting of 30 Sep 2024, 10 fund houses

  • To recevive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2024 and the report of the Board of Directors and auditors thereon
    10 for0 against
  • To receive, consider and adopt audited consolidated financial statements of the Company for the financial year ended March 31, 2024, and reports of the auditors thereon
    10 for0 against
  • To appoint a director in place of Mrs. Anjali Nashier (DIN: 01942221), who retires by rotation and being eligible, offers herself for re-appointment
    Against Axis Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund
    • Axis Mutual Fund, SBI Mutual FundMs. Anjali Nashier, 46, is part of the promoter family (wife of Rajiv Rattan) and the Co-(Business) Chairperson of the company. She is the former chairperson and CEO of RattanIndia Solar Private Limited. She has been on the board since 23 December 2021. She is liable to retire by rotation. She attended four out of nine (44%) board meetings held in FY24 and nine out of eighteen (50%) board meetings held over a three-year period. We expect directors to attend all board meetings or at least meet the threshold of 75% over a three-year period including the year of reappointment. Given the poor attendance levels, we do not support her reappointment.
    • Bandhan Mutual Fund, Groww Mutual Fund, Nippon India Mutual FundCompliant with Law. No concern on the merits of proposed appointee. Governance Concern: Low attendance at Board meetings.
    • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
    4 for6 against
  • Appointment of Dr. Virender Singh (DIN: 05215919) as an Independent Director of the Company
    10 for0 against
  • Appointment of Mr. Ajay Kumar Tandon (DIN: 07087682) as an Independent Director of the Company
    10 for0 against

Mutual fund votes, meeting of 29 Sep 2023, 5 fund houses

  • To receive, consider and adopt the audited standalone financial statements of the Company for the financial year ended March 31, 2023 and the reports of the Board of Directors and auditors thereon.
    5 for0 against
  • To receive, consider and adopt the audited consolidated financial statements of the Company for the financial year ended March 31, 2023 and reports of the auditors thereon.
    5 for0 against
  • To appoint a Director in place of Mr. Rajesh Kumar (DIN: 03291545), who retires by rotation and being eligible, offers himself for re-appointment.
    5 for0 against
  • To appoint Mr. Rahul Gochhwal as President-Fintech Business, a related party and for holding the office of place of profit.
    Against SBI Mutual Fund
    • SBI Mutual FundRahul Gocchwal is related to promoter and Business Chairperson Ms. Anjali Nashier (wife of promoter Rajiv Rattan). He is an alumnus of IIM Calcutta and Punjab Engg. College (PEC), Chandigarh. He has over 20 years of business experience. He is founder, Trupay (a payment platform to provide UPI and Bharat QR based payment solutions). In his previous professional stints, Rahul Gochhwal has worked with Infosys, Indiabulls Group and Unitech.The company proposes a fixed remuneration of Rs 10.6 mn, a variable pay of Rs. 3.5 mn and LTC taking total cash remuneration to Rs 16.8 mn. He is also eligible for ESOPs/Sweat Equity upto 5% of the share capital of Neotec Enterprises and Neotec Insurance Brokers, the fintech and insurance wholly owned subsidiaries. There is no cap on the remuneration, nor a defined tenure of employment. This is why we do not support the resolution.
    4 for1 against

Mutual fund votes, meeting of 9 Jun 2023, 5 fund houses

  • TO CONSIDER AND APPROVE RAISING FUNDS THROUGH QUALIFIED INSTITUTIONAL PLACEMENT (QIP) AND OTHER PERMISSIBLE MODES
    5 for0 against

Mutual fund votes, meeting of 7 Feb 2023, 3 fund houses

  • Appointment of Mrs. Pritika Poonia (DIN: 06715564) as an Independent Woman Director of the Company
    Against Nippon India Mutual Fund, SBI Mutual Fund
    • Nippon India Mutual FundAssociation may adversely impact independence
    • SBI Mutual FundMs. Pritika Poonia, 39, is a director, Steadfast Metal Products Pvt. Ltd. and designated partner, Handover Greenbox LLP. She is also an Independent Director on the board of RattanIndia Power Ltd since 10 November 2022. Ms. Pritika Poonia is the sister of Ms. Neha Poonia who served on the board of RattanIndia Enterprises as Independent Director for two years before she resigned on 10 November 2022. There has not been a three-year cooling off period between the appointment of the two family members; further the company has not articulated the process it adopted and the basis of the appointment, including the pool of candidates considered before appointing Ms. Pritika Poonia as Independent Director. Therefore, we do not support her appointment.
    1 for2 against
  • Appointment of Mr. Rajesh Kumar (DIN: 03291545), Non-executive Director of the Company as a Whole-Time Director (Executive Director) & Key Managerial Personnel of the Company, for a period of five years, with effect from April 01, 2023.MoreLess
    Against Nippon India Mutual Fund, SBI Mutual Fund
    • Nippon India Mutual FundLack of clarity regarding remuneration structure
    • SBI Mutual FundRajesh Kumar (DIN: 03291545), is B. Tech (Mechanical), from Bangalore University and also holds a post graduate diploma in management from Indian Institute of Business Management, Patna. He has over 32 years of experience in thermal power projects. Rajesh Kumar has been a non-executive director on the board of the company since 28 January 2021. The company proposes to appoint him as Executive Director from 1 April 2023 at NIL remuneration from the company. The company has not provided any details as regards his age, professional experience or the reason for the reclassification In the absence of information, we are unable to ascertain if he is eligible to receive remuneration from any other promoter group companies. Given the lack of clarity on his remuneration structure, we do not support the resolution.
    1 for2 against
  • Approval to the Related Party Transactions seeking financial assistance from certain related parties
    Against Nippon India Mutual Fund, SBI Mutual Fund
    • Nippon India Mutual FundInsufficient information
    • SBI Mutual FundThe company proposes to seek financial assistance of upto Rs 10.0 bn each for itself, its present and future subsidiaries and associates from each of the five promoter entities. The tenor of the loans will be a maximum of five years. The company has not disclosed any details on the proposed related party transaction – the purpose, amount, tenure, terms etc. of the proposed loans to be taken. Further, the proposed sums to be borrowed from promoters is very high relative to the networth and business volumes of the company. The company must also provide a rationale for raising debt from promoters instead of obtaining a credit rating and borrowing from the financial markets. It cannot be ascertained if the transaction is in the ordinary course of business and is at armslength. After shareholder approval, the terms of the financing arrangement may be revised based on mutual consent of RattanIndia Enterprises Limited and the promoter group companies.
    1 for2 against

Mutual fund votes, meeting of 30 Sep 2022, 3 fund houses

  • To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2022 and the reports of the Board of Directors and auditors thereon.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundNon-disclosure of latest financial statements of Subsidiaries on the website
    2 for1 against
  • To appoint a Director in place of Mr. Rajiv Rattan (DIN: 00010849), who retires by rotation and being eligible, offers himself for re-appointment.
    3 for0 against
  • Appointment of Mrs. Anjali Nashier (DIN: 01942221) as a Director liable to retire by rotation.
    3 for0 against

Mutual fund votes, meeting of 3 Aug 2022, 3 fund houses

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

  • APPROVAL TO THE INSTITUTION OF EMPLOYEES STOCK OPTIONS PLAN “RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022”
    1 for0 against
  • APPROVAL TO GRANT OF EMPLOYEE STOCK OPTIONS TO THE EMPLOYEES OF A GROUP COMPANY INCLUDING SUBSIDIARY COMPANY(IES) OR ASSOCIATE COMPANY, IF ANY, OF THE COMPANY UNDER RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022MoreLess
    1 for0 against
  • APPROVAL FOR GRANT OF EMPLOYEE STOCK OPTIONS TO THE IDENTIFIED EMPLOYEE(S) DURING ANY ONE YEAR, EQUAL TO OR EXCEEDING ONE PERCENT OF THE ISSUED CAPITAL OF THE COMPANY AT THE TIME OF GRANT OF EMPLOYEE STOCK OPTIONS.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    2 for1 against
  • APPROVAL OF TRUST ROUTE FOR THE IMPLEMENTATION OF RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022
    1 for0 against
  • APPROVAL FOR PROVISION OF MONEY BY THE COMPANY FOR PURCHASE OF ITS OWN SHARES BY THE TRUST / TRUSTEES FOR THE BENEFIT OF EMPLOYEES UNDER RATTANINDIA ENTERPRISES LIMITED EMPLOYEE STOCK OPTION PLAN 2022
    1 for0 against
  • ALTERNATION IN THE OBJECT CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY
    3 for0 against
  • APPROVAL TO THE RELATED PARTY TRANSACTION WITH RATTANINDIA POWER LIMITED
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInsufficient information
    2 for1 against
4 proposals not matched to one resolution
  • To create, offer and grant from time to time Employee Stock Options (“ESOPs”), within the overall ceiling of 6,91,13,479 (Six Crore Ninety One Lakh Thirteen Thousand Four Hundred Seventy Nine) Employee Stock Options (“ESOPs”) being equivalent to 5% (Five percent) of the paid-up equity share capital of the Company.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    1 for1 against
  • To create, offer and grant from time to time up to 6,91,13,479 ( Six Crore Ninety One Lakh Thirteen Thousand Four Hundred Seventy Nine) Employee Stock Options (“ESOPs”) being equivalent to 5% (Five percent) of the paid-up equity share capital of the Company.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    1 for1 against
  • To grant loan, to provide guarantee or security in connection with a loan granted or to be granted to, the Employee Welfare Trust (hereinafter referred to as “Trust”) set-up by the Company, in one or more tranches, not exceeding 5% (Five percent) of the aggregate of the paid- up share capital and Free Reserves as on March 31, 2022, for the purpose of subscription and/or purchase of equity shares of the Company by the Trust, in one or more tranches, subject to overall ceiling of 6,91,13,479 (Six Crore Ninety One Lakh Thirteen Thousand Four Hundred Seventy Nine) Employee Stock Options (“ESOPs”) under ‘RattanIndia Enterprises Limited Employee Stock Option Plan 2022’.MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    1 for1 against
  • To implement ‘RattanIndia Enterprises Limited Employee Stock Option Plan 2022’ (hereinafter referred to as the “REL ESOP 2022”/ “Plan”) through an Employee Welfare Trust (hereinafter referred to as “Trust”) and the Trust to subscribe, acquire, purchase, hold and deal in equity shares of the Company for the purpose of implementation of REL ESOP 2022 or any other employee stock plan or share based employee benefit plan which may be introduced by the Company from time to time, (hereinafter referred to as “Employees Benefit Plan”)MoreLess
    Against Nippon India Mutual Fund
    • Nippon India Mutual FundInadequate disclosure
    1 for1 against

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

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

None open at any quarter's end.
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.