Sadbhav Infrastructure Project MD, chairman, board of directors and AGM
NSE: SADBHINBSE: 539346Transport InfrastructureSmall Cap
Share price at the NSE close on 23 Oct 2026. Previous close ₹2.32.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹82 Cr2,853rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 11 Aug 2026
- 53.9
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹95 crore of one-off items, the largest of them in the quarter to Dec 2025.
- 0.8
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
- Net worth zero or below
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business.
- Assets held for saleon the latest balance sheet
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- Assets held for saleon the latest balance sheet
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- Assets held for saleon the latest balance sheet
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 49,68385.1% delivered
Sadbhav Infrastructure Project 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
- ChairpersonSHASHIN VISHNUBHAI PATEL
5 directors3 independent1 executive1 non-executive
- SHASHIN VISHNUBHAI PATEL · ChairpersonExecutive · joined Jan 2007 · 2 listed boards · 4 committee seats
- Siddharth Bhupendrabhai VyasNon-executive · joined Sep 2025 · 2 listed boards
- SHEFALI MANOJBHAI PATELIndependent · joined Jul 2024 · 23 months as independent · 2 listed boards · 2 as independent · 2 committee seats, 3 as chair
- TARANG MADHUKAR DESAIIndependent · joined Aug 2024 · 22 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
- AMBALAL CHHITABHAI PATELIndependent · joined Sep 2024 · 20 months as independent · 5 listed boards · 5 as independent · 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.
3 directors who left
- JATIN THAKKAR, left 30 Sep 2025: Others
- DAKSHA NIRANJAN SHAH, left 12 Feb 2025: Others
- ARUNBHAI SHANKERLAL PATEL, left 21 Oct 2024: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 27 May 20265 of 5 present3 independent · 103 days in between
- 12 Feb 20265 of 5 present3 independent
Audit Committee
Chair SHEFALI MANOJBHAI PATEL
SHASHIN VISHNUBHAI PATEL, TARANG MADHUKAR DESAI
- 27 May 20263 of 3 present2 independent · 103 days in between
- 12 Feb 20263 of 3 present2 independent
Nomination and remuneration committee
Chair SHEFALI MANOJBHAI PATEL
TARANG MADHUKAR DESAI, AMBALAL CHHITABHAI PATEL
- 27 May 20263 of 3 present3 independent · 103 days in between
Stakeholders Relationship Committee
Chair SHEFALI MANOJBHAI PATEL
TARANG MADHUKAR DESAI, SHASHIN VISHNUBHAI PATEL
- 27 May 20263 of 3 present2 independent
Risk Management Committee
Chair TARANG MADHUKAR DESAI
SHASHIN VISHNUBHAI PATEL, SHEFALI MANOJBHAI PATEL
- 27 May 20263 of 3 present2 independent
Corporate Social Responsibility Committee
Chair TARANG MADHUKAR DESAI
SHASHIN VISHNUBHAI PATEL, SHEFALI MANOJBHAI PATEL
- 12 Feb 20263 of 3 present2 independent
Independent Director Meeting
- 12 Feb 20263 of 3 present3 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.
- SGDG and Associates LLPPeer-review certificate valid to Oct 2026
1 earlier auditor
- S G D G & Associates LLPNamed in the filing for the quarter to Mar 2025
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.
Sadbhav Infrastructure Project 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.Sadbhav Infrastructure Project dividend history
Annual general meeting, 30 Sep 2026
53,387 shareholders on the register on 23 Sep 2026; present: 3 promoters and 28 others; votes counted by Ravi Kapoor / Ravi Kapoor & Associates.The company's voting result (opens in a new tab)
1 - Consider and adopt: (a) Audited Standalone Financial Statement, Report of the Board of Directors and Auditors thereon for financial year ended March 31, 2026 (b) Audited Consolidated Financial Statement for financial year ended March 31, 2026MoreLess
Ordinary99.95% for0.05% againstAgainst: promoters 0.00% · institutions 0.00% · other public 14.99%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
- 2 - Appointment of Mr. Siddharth Vyas (DIN: 01833867) who retires by rotationOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 15.21%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
- 3 - Ratification of Remuneration to Cost AuditorOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 15.04%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
- 4 - Appointment of Mr. Ankit Kishorbhai Shah (DIN: 11821847) as a Non-Executive Independent Director of the CompanySpecial99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 14.99%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
- 5 - Appointment of Mr. Jaldeep Prakashbhai Patel (DIN: 11821907) as a Non-Executive Independent Director of the CompanySpecial100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.42%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
6 - To consider and approve the pledge of shares held by the company in its material subsidiary i.e. Maharashtra Border Check Post Network Limited (‘MBCPNL’) as per the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.42%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
7 - To consider and approve the pledge of shares held by the company in its material subsidiaries i.e. Sadbhav Hybrid Annuity Project Limited (‘SHAPL’), Sadbhav Nainital Highway Limited (‘SNHL’), Sadbhav Rudrapur Highway Limited (‘SRHL’) and Sadbhav Vidarbha Highway Limited (‘SVHL’) [hereinafter referred to as the ‘subject material subsidiaries’] and giving securities exceeding 20% of the assets of the subject Material Subsidiaries pursuant to the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess
Special100.00% for0.00% againstAgainst: promoters 0.00% · institutions 0.00% · other public 0.42%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
8 - Approval for sale, transfer, disposal of assets exceeding 20% of the assets of the Company’s Material Subsidiaries i.e. “1) Sadbhav Maintenance Infrastructure Private Limited and 2) Sadbhav Infra Solutions Private Limited” (hereinafter referred to as target subsidiary) and/or for liquidation or otherwise disposal of the entire shareholding held by the company in its material subsidiary, resulting in cessation of control over the material subsidiary, pursuant to regulations 24(5) and 24(6) of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015MoreLess
Special99.95% for0.05% againstAgainst: promoters 0.00% · institutions 0.00% · other public 15.00%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
- 9 - Appointment of Statutory Auditor to fill Casual VacancyOrdinary100.00% for0.00% against
Against: promoters 0.00% · institutions 0.00% · other public 0.42%
Turnout: all 70.48% · promoters 100.00% · institutions 0.00% · other public 0.75%
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.
Annual general meeting, 30 Sep 2025, 6 resolutions
53,705 shareholders on the register on 23 Sep 2025; present: 2 promoters and 37 others; votes counted by Ravi Kapoor / Ravi Kapoor and Associates.The company's voting result (opens in a new tab)
1 - To consider and Adopt (a) the audited Standalone financial statement of the Company for the financial year ended 31st March, 2025, 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 31st March, 2025 and the report of Auditors thereon.MoreLess
Ordinary99.88% for0.12% againstAgainst: promoters 0.00% · institutions 0.00% · other public 24.26%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
- 2 - To Appoint a Director in Place of Mr. Jatin Thakkar (DIN: 09312406), who retires by rotation and being Eligible, offers himself for reappointment.OrdinaryNot passed0.57% for99.43% against
Against: promoters 100.00% · institutions 0.00% · other public 94.62%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
- 3 - Ratification of Remuneration to Cost AuditorOrdinary99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 24.26%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
- 4 - Appointment of Secretarial AuditorsOrdinary99.91% for0.09% against
Against: promoters 0.00% · institutions 0.00% · other public 16.75%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
- 5 - To Re-appoint Mr. Shashin Patel (din: 00048328) as an Executive Chairman and Whole Time Director of the CompanySpecial99.37% for0.63% against
Against: promoters 0.00% · institutions 100.00% · other public 16.76%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
- 6 - Appointment of Mr. Siddharth Bhupendrabhai Vyas (DIN:01833867) as a Non-Executive Director of the CompanyOrdinary99.88% for0.12% against
Against: promoters 0.00% · institutions 0.00% · other public 24.35%
Turnout: all 71.00% · promoters 100.00% · institutions 100.00% · other public 1.23%
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, 9 resolutions
Present: 2 promoters and 30 others.The company's voting result (opens in a new tab)
1 - To consider and adopt : n(a) the audited Standalone Financial statement of the Company for the nFinancial year ended 31st March, 2024, the reports of the Board of nDirectors and Auditors thereon; andn(b) the audited consolidated ?inancial statement of the Company for the nFinancial year ended 31st March, 2024 and the report of Auditors nthereon.MoreLess
Ordinary99.99% for0.01% againstAgainst: promoters 0.00% · institutions 0.00% · other public 1.38%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 2 - To appoint a Director in place of Mr. Shashin Patel (DIN: 00048328), who nretires by rotation and being eligible, offers himself for reappointmentOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 1.40%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 3 - Ratification of Remuneration to Cost AuditorOrdinary99.98% for0.02% against
Against: promoters 0.00% · institutions 0.00% · other public 1.63%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 4 - To appoint Mr. Ambalal C. Patel (DIN:00037870) as an Independent nDirector of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 1.40%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 5 - To appoint Mrs. Shefali Manojbhai Patel (DIN:07235872) as an nIndependent Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 1.39%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 6 - To appoint Mr. Tarang Madhukar Desai (DIN:00005100) as an nIndependent Director of the CompanySpecial99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 1.39%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
7 - To approve Implementation of the ‘Employee Stock Option Plan 2024 and nto approve Grant of Employee Stock Options under the ‘Employee Stock nOption Plan 2024’ to the Eligible Employees of the CompanyMoreLess
Special99.05% for0.95% againstAgainst: promoters 0.00% · institutions 100.00% · other public 1.52%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
8 - To approve Grant of Employee Stock Options under the ‘Employee Stock nOption Plan 2024’ to the Eligible Employees of the Company’s subsidiary ncompanies (including Step-Down Subsidiary Companies) and Holding nCompaniesMoreLess
Special99.05% for0.95% againstAgainst: promoters 0.00% · institutions 100.00% · other public 1.52%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
- 9 - To grant Options to Eligible Employees equal to or exceeding one percent nof the Issued Capital of the Company during any one year under Employee nStock Option Plan 2024.Special99.05% for0.95% against
Against: promoters 0.00% · institutions 100.00% · other public 1.53%
Turnout: all 70.73% · promoters 99.51% · institutions 100.00% · other public 2.26%
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, 30 May 2024, 1 resolution
Present: 2 promoters and 32 others.The company's voting result (opens in a new tab)
1 - To consider and approve the divestment of shares held by the company in its material subsidiary i.e. Ahmedabad Ring Road Infrastructure Limited ( ARRIL ) and giving securities exceeding 20% of the assests of ARRIL pursuant to the provisions of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess
SpecialPromoters have an interest in it99.95% for0.05% againstAgainst: promoters 0.00% · institutions 0.00% · other public 2.06%
Turnout: all 55.27% · promoters 75.75% · institutions 91.20% · other public 4.60%
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.
Annual general meeting, 30 Sep 2023, 4 resolutions
Present: 2 promoters and 31 others.The company's voting result (opens in a new tab)
Consider and adopt:n(a) Audited Statement Financial Statement, Report of the Board of Directors and Auditors thereon for financial year ended March 31, 2023n(b) Audited Consolidated Financial Statement for financial year ended March 31, 2023MoreLess
Ordinary99.95% for0.05% againstAgainst: promoters 0.00% · institutions 0.00% · other public 30.08%
Turnout: all 54.04% · promoters 99.36% · institutions 91.20% · other public 0.21%
- To appoint a Director in place of Mr. Jatin Thakkar (DIN: 09312406), who retires by rotation and being eligible, offers himself for reappointment.Ordinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 30.30%
Turnout: all 54.04% · promoters 99.36% · institutions 91.20% · other public 0.21%
- To reappoint Statutory Auditors of the Company and fix their remuneration.Ordinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 3.93%
Turnout: all 54.04% · promoters 99.36% · institutions 91.20% · other public 0.21%
- Ratification of Remuneration to Cost AuditorOrdinary99.99% for0.01% against
Against: promoters 0.00% · institutions 0.00% · other public 4.96%
Turnout: all 54.04% · promoters 99.36% · institutions 91.20% · other public 0.21%
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 Apr 2023, 4 resolutions
The company's voting result (opens in a new tab)
- APPOINTMENT AND CHANGE IN DESIGNATION OF MR. SHASHIN V. PATEL (DIN: 00048328) AS THE EXECUTIVE CHAIRMAN AND WHOLE TIME DIRECTOR OF THE COMPANY nSpecial99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 4.67%
Turnout: all 71.81% · promoters 100.00% · institutions 91.19% · other public 2.81%
- APPOINTMENT OF MR. JATIN THAKKAR (DIN: 09312406) AS A DIRECTOR OF THE COMPANYOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 4.36%
Turnout: all 71.81% · promoters 100.00% · institutions 91.19% · other public 2.81%
- APPOINTMENT OF MR. JATIN THAKKAR (DIN: 09312406) AS AN EXECUTIVE DIRECTOR OF THE COMPANYSpecial99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 4.37%
Turnout: all 71.81% · promoters 100.00% · institutions 91.19% · other public 2.81%
- APPOINTMENT OF MR. DWIGESH JOSHI (DIN: 09733282) AS A NON- EXECUTIVE DIRECTOR OF THE COMPANYOrdinary99.95% for0.05% against
Against: promoters 0.00% · institutions 0.00% · other public 4.36%
Turnout: all 71.81% · promoters 100.00% · institutions 91.19% · other public 2.81%
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, 21 Mar 2023, 1 resolution
The company's voting result (opens in a new tab)
- SALE OF EQUITY SHARE CAPITAL OF SUBSIDIARY COMPANIESSpecial99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.59%
Turnout: all 77.06% · promoters 100.00% · institutions 93.60% · other public 20.19%
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, 5 resolutions
Present: 3 promoters and 44 others.The company's voting result (opens in a new tab)
To Consider and adopt: (a) the audited Standalone financial statement of the Company for the financial year ended on 31 March, 2022, the reports of the Board of Directors and Auditors thereon; andn(b) the audited consolidated financial statement of the Company for the financial year ended on 31 March, 2022 and the report of Auditors thereon.MoreLess
Ordinary98.56% for1.44% againstAgainst: promoters 0.00% · institutions 56.48% · other public 0.60%
Turnout: all 77.55% · promoters 100.00% · institutions 94.49% · other public 19.12%
- 2 - Appointment of Mr. Shashin V. Patel, who retires by rotationOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.61%
Turnout: all 77.55% · promoters 100.00% · institutions 94.49% · other public 19.12%
- 3 - Ratification of Remuneration to Cost AuditorOrdinary99.96% for0.04% against
Against: promoters 0.00% · institutions 0.00% · other public 0.61%
Turnout: all 77.55% · promoters 100.00% · institutions 94.49% · other public 19.12%
- 4 - Approval of Loans, Investments, Guarantee or Security under Section 185 of Companies Act, 2013Special72.13% for27.87% against
Against: promoters 0.00% · institutions 100.00% · other public 0.63%
Turnout: all 7.03% · promoters 0.00% · institutions 94.49% · other public 18.48%
- 5 - Re-appointment of Mr. Vasistha C. Patel [DIN:00048324] as Managing DirectorSpecial98.55% for1.45% against
Against: promoters 0.00% · institutions 56.48% · other public 0.61%
Turnout: all 77.55% · promoters 100.00% · institutions 94.49% · other public 19.12%
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 30 Sep 2025, 1 fund house
1 - To consider and Adopt (a) the audited Standalone financial statement of the Company for the financial year ended 31st March, 2025, 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 31st March, 2025 and the report of Auditors thereon.MoreLess
1 for0 against- 2 - To Appoint a Director in Place of Mr. Jatin Thakkar (DIN: 09312406), who retires by rotation and being Eligible, offers himself for reappointment.1 for0 against
- 3 - Ratification of Remuneration to Cost Auditor1 for0 against
- 4 - Appointment of Secretarial Auditors1 for0 against
- 5 - To Re-appoint Mr. Shashin Patel (din: 00048328) as an Executive Chairman and Whole Time Director of the Company
Against HDFC Mutual Fund
- HDFC Mutual FundMr. Shashin V. Patel, 44, is part of the promoter family and serves as the Executive Chairperson of Sadbhav Infrastructure Projects Ltd. (SIPL) and as the Chairperson and Managing Director of Sadbhav Engineering Ltd. (SEL, the parent company). His proposed remuneration is high relative to the group’s business performance. The company has failed to deliver and turnaround the business and increased remuneration does not justify the business performance. We do not support the resolution.
0 for1 against - 6 - Appointment of Mr. Siddharth Bhupendrabhai Vyas (DIN:01833867) as a Non-Executive Director of the Company1 for0 against
Mutual fund votes, meeting of 30 Sep 2024, 1 fund house
1 - To consider and adopt : n(a) the audited Standalone Financial statement of the Company for the nFinancial year ended 31st March, 2024, the reports of the Board of nDirectors and Auditors thereon; andn(b) the audited consolidated ?inancial statement of the Company for the nFinancial year ended 31st March, 2024 and the report of Auditors nthereon.MoreLess
1 for0 against- 2 - To appoint a Director in place of Mr. Shashin Patel (DIN: 00048328), who nretires by rotation and being eligible, offers himself for reappointment1 for0 against
- 3 - Ratification of Remuneration to Cost Auditor1 for0 against
- 4 - To appoint Mr. Ambalal C. Patel (DIN:00037870) as an Independent nDirector of the Company1 for0 against
- 5 - To appoint Mrs. Shefali Manojbhai Patel (DIN:07235872) as an nIndependent Director of the Company1 for0 against
- 6 - To appoint Mr. Tarang Madhukar Desai (DIN:00005100) as an nIndependent Director of the Company1 for0 against
7 - To approve Implementation of the ‘Employee Stock Option Plan 2024 and nto approve Grant of Employee Stock Options under the ‘Employee Stock nOption Plan 2024’ to the Eligible Employees of the CompanyMoreLess
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
0 for1 against8 - To approve Grant of Employee Stock Options under the ‘Employee Stock nOption Plan 2024’ to the Eligible Employees of the Company’s subsidiary ncompanies (including Step-Down Subsidiary Companies) and Holding nCompaniesMoreLess
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
0 for1 against- 9 - To grant Options to Eligible Employees equal to or exceeding one percent nof the Issued Capital of the Company during any one year under Employee nStock Option Plan 2024.
Against HDFC Mutual Fund
- HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price
0 for1 against
5 earlier meetings
Mutual fund votes, meeting of 30 May 2024, 1 fund house
1 - To consider and approve the divestment of shares held by the company in its material subsidiary i.e. Ahmedabad Ring Road Infrastructure Limited ( ARRIL ) and giving securities exceeding 20% of the assests of ARRIL pursuant to the provisions of SEBI(Listing Obligations and Disclosure Requirements) Regulations, 2015MoreLess
1 for0 against
Mutual fund votes, meeting of 30 Sep 2023, 1 fund house
Consider and adopt:n(a) Audited Statement Financial Statement, Report of the Board of Directors and Auditors thereon for financial year ended March 31, 2023n(b) Audited Consolidated Financial Statement for financial year ended March 31, 2023MoreLess
1 for0 against- To appoint a Director in place of Mr. Jatin Thakkar (DIN: 09312406), who retires by rotation and being eligible, offers himself for reappointment.1 for0 against
- To reappoint Statutory Auditors of the Company and fix their remuneration.1 for0 against
- Ratification of Remuneration to Cost Auditor1 for0 against
Mutual fund votes, meeting of 29 Apr 2023, 1 fund house
- APPOINTMENT AND CHANGE IN DESIGNATION OF MR. SHASHIN V. PATEL (DIN: 00048328) AS THE EXECUTIVE CHAIRMAN AND WHOLE TIME DIRECTOR OF THE COMPANY n1 for0 against
- APPOINTMENT OF MR. JATIN THAKKAR (DIN: 09312406) AS A DIRECTOR OF THE COMPANY1 for0 against
- APPOINTMENT OF MR. JATIN THAKKAR (DIN: 09312406) AS AN EXECUTIVE DIRECTOR OF THE COMPANY1 for0 against
- APPOINTMENT OF MR. DWIGESH JOSHI (DIN: 09733282) AS A NON- EXECUTIVE DIRECTOR OF THE COMPANY1 for0 against
Mutual fund votes, meeting of 21 Mar 2023, 2 fund houses
- SALE OF EQUITY SHARE CAPITAL OF SUBSIDIARY COMPANIES2 for0 against
Mutual fund votes, meeting of 30 Sep 2022, 2 fund houses
To Consider and adopt: (a) the audited Standalone financial statement of the Company for the financial year ended on 31 March, 2022, the reports of the Board of Directors and Auditors thereon; andn(b) the audited consolidated financial statement of the Company for the financial year ended on 31 March, 2022 and the report of Auditors thereon.MoreLess
Against Nippon India Mutual Fund
- Nippon India Mutual FundNon-disclosure of latest financial statements of Subsidiaries on the website
1 for1 against- 2 - Appointment of Mr. Shashin V. Patel, who retires by rotation2 for0 against
- 3 - Ratification of Remuneration to Cost Auditor2 for0 against
- 4 - Approval of Loans, Investments, Guarantee or Security under Section 185 of Companies Act, 2013
Against HDFC Mutual Fund, Nippon India Mutual Fund
- HDFC Mutual FundAs the resolution is open ended there could be a possibility that the support could be extended to other companies directly/indirectly controlled by the promoters
- Nippon India Mutual FundInadequate disclosure
0 for2 against - 5 - Re-appointment of Mr. Vasistha C. Patel [DIN:00048324] as Managing Director
Against Nippon India Mutual Fund
- Nippon India Mutual FundLow Attendance
1 for1 against
Each fund house counted once, from its own disclosure; the reasons are its own words.
Fines and tax disputes
Reported in the filing for the quarter to Jun 2026.
- Fine or penaltyBOMBAY STOCK EXCHANGESince 27 May 2026
Fine Imposed
Regulation-6(1) of SEBI (LODR) Regulations, 2015 - Fine or penaltyNATIONAL STOCK EXCHANGE LIMITEDSince 27 May 2026
Fine Imposed
Regulation-6(1) of SEBI (LODR) Regulations, 2015 - Tax disputeDy. Comm. Mumbai LTU-537, South East MaharashtraSince 4 Oct 2022Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Mumbai LTU-537, South East MaharashtraSince 2 Nov 2022Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Business Wing B, Wing VI Jaipur, RajasthanSince 24 Apr 2023Appeal allowed partially and net demand of Rs.29,47,656 raised
- Tax disputeJoint Comm. Circle A, Udaipur, RajasthanSince 12 Jul 2023Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Sector 3, Rudrapur, UttarakhandSince 22 Nov 2023Appeal assessment pending with the appellate authority
- Tax disputeSTO, Vanasthalipuram II, Saroornagar, TelanganaSince 27 Dec 2023Appeal assessment pending with the appellate authority
21 more
- Tax disputeDy. Comm. Circle E, Udaipur, RajasthanSince 24 Apr 2024APL-04 issued & Balance demand Paid -Closed (RJ21)
- Tax disputeAsst. Comm. CGST, Division Vi, Ahmedabad SouthSince 24 Apr 2024Appeal assessment pending with the appellate authority
- Tax disputeJoint Comm. Circle A, Udaipur, RajasthanSince 29 Apr 2024Appeal assessment pending with the appellate authority
- Tax disputeSTO, Vanasthalipuram II, Saroornagar, TelanganaSince 30 Apr 2024Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Circle E, Udaipur, RajasthanSince 30 Jul 2024Appeal assessment pending with the appellate authority
- Tax disputeSTO, Vanasthalipuram II, Saroornagar, TelanganaSince 27 Aug 2024Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Mumbai LTU-537, South East MaharashtraSince 12 Apr 2022Appeal assessment pending with the appellate authority
- Tax disputeDy. Comm. Mumbai LTU-537, South East MaharashtraSince 30 Oct 2019Appeal order received in our favor and refund also received
- Tax disputeDy. Comm. Jabalpur 2, Div. 1, Madhya PradeshSince 31 Dec 2019Appeal assessment pending with the appellate authority
- Tax disputeExcise and Taxation Officer, Hisar Ward 7 Hisar: HaryanaSince 13 Jan 2025Appeal assessment pending with the appellate authority
- Tax disputeAsst. Comm. CGST, Division Vi, Ahmedabad SouthSince 3 Feb 2025Hearing pending with Hon'ble Gujarat High Court
- Tax disputeAdditional Commissioner, CGST, Ahmedabad, South, AhmedabadSince 31 Jan 2025Hearing pending with Hon'ble Gujarat High Court
- Tax disputeSTO, Mandvi 711, Division 3 Mumbai South,Since 18 Dec 2025Appeal assessment pending with the appellate authority
- Tax disputeGanges Ink Building, 1s Floor, LBS Marg, Vikhroli (West) MumbaiSince 16 Dec 2025Appeal assessment pending with the appellate authority
- Tax disputeThe Dy. Comm. State Tax, Kar Bhavan, Jaipur, RajasthanSince 29 Mar 2026Appeal assessment pending with the appellate authorityAt the filing before: Appeal not due but will be filed before due date
- Tax disputeThe Dy. Comm. State Tax, Kar Bhavan, Jaipur, RajasthanSince 29 Mar 2026Appeal assessment pending with the appellate authorityAt the filing before: Appeal not due but will be filed before due date
- Tax disputeThe Dy. Comm. State Tax, Kar Bhavan, Jaipur, RajasthanSince 29 Mar 2026Appeal assessment pending with the appellate authorityAt the filing before: Appeal not due but will be filed before due date
- Tax disputeThe Dy. Comm. State Tax, Kar Bhavan, Jaipur, RajasthanSince 29 Mar 2026Appeal assessment pending with the appellate authorityAt the filing before: Appeal not due but will be filed before due date
- Tax disputeThe Dy. Comm. State Tax, Kar Bhavan, Jaipur, RajasthanSince 29 Mar 2026Appeal assessment pending with the appellate authorityAt the filing before: Appeal not due but will be filed before due date
- Tax disputeThe DCIT, Central Circle -3 Income Tax AhmedabadSince 21 Jan 2021Pending Penalty proceedings for AY 2016-17 & AY 2017-18
- Tax disputeHonerable High Court of GujaratSince 23 Sep 2025Department Appeal Pending before High Court
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
- 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
- No
- 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.