SBI Funds Management MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 6 Sep 2026, 9 fund houses so far (houses' deadline to file 15 Oct 2026)

• Ratification of the SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018 / Plan”).

  ›Against Edelweiss Mutual Fund, Helios Mutual Fund, ICICI Prudential Mutual Fund, PGIM India Mutual Fund

  • Edelweiss Mutual Fund, Helios Mutual Fund, PGIM India Mutual FundNon-compliant with SEBI (SBEB & SE) Regulations, 2021: The Company has not disclosed the Exercise Price / Pricing Formula. Governance and Transparency Concern: Maximum Potential economic benefits to a single employee appears to be disproportionate and excessive. The scheme provides three categories of vesting period and exercise period would also vary basis the vesting period, such that the employees with highest vesting period would have lowest exercise period, which is against the principals of good governance. The Company has not provided any justification for multiple categories of options under single scheme.
  • ICICI Prudential Mutual FundIt is unclear whether the stock options will be granted at or close to market price. Given the lack of disclosure on exercise price, the AMC has voted against the resolution.

  5 for4 against
• Ratification of the Extension of Benefits under The SBI Funds Management Limited Employees’ Stock Option Plan 2018 (The “Esop 2018/Plan”) to the Employees of Subsidiary Companies.

  ›Against Edelweiss Mutual Fund, Helios Mutual Fund, ICICI Prudential Mutual Fund, PGIM India Mutual Fund

  • Edelweiss Mutual Fund, Helios Mutual Fund, PGIM India Mutual FundNo concern identified w.r.t. the proposed extension per-se, however, proposal is interlinked with Resolution #1.
  • ICICI Prudential Mutual FundThe AMC's view on this resolution is linked to the view on resolution #1.Hence, the AMC has voted against the resolution.

  5 for4 against
• Appointment of M/S. N L Bhatia & Associates, Practicing Company Secretaries as the Secretarial Auditor and Payment of their remuneration.

  9 for0 against
• Adoption of amended Articles of Association of the Company for granting Special Rights to certain Shareholders of the Company pursuant to Waiver Cum Amendment Agreement and Licensing Agreement.

  ›Against Edelweiss Mutual Fund, Helios Mutual Fund, HSBC Mutual Fund, PGIM India Mutual Fund

  • Edelweiss Mutual Fund, Helios Mutual Fund, PGIM India Mutual FundCompliant with law. Transparency Concern: Amended AoA not disclosed / cannot be located. Governance and Transparency Concern: Nomination rights to SBI appears excessive and there is no sunset or fall-away clause for SBI nominations. Rights to appoint or nominate directors on the Committees is not considered as good governance.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because the amended AoA is not disclosed in the public domain, thereby preventing independent assessment of the special rights.

  5 for4 against
• Grant of Special Rights pursuant to Governance Agreement dated March 19, 2026.

  ›Against Edelweiss Mutual Fund, Helios Mutual Fund, PGIM India Mutual Fund

  • Edelweiss Mutual Fund, Helios Mutual Fund, PGIM India Mutual FundCompliant with law. Governance & Transparency Concern: Special rights proposed to promoters without any sunset / fall-away clause and certain special rights undermines the roles of Board / NRC.

  6 for3 against