Seshaasai Technologies MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 16 Sep 2026, 4 fund houses so far (houses' deadline to file 15 Oct 2026)

• 1 - To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026 together with the Reports of the Board of Directors and the Auditors thereonMoreLess

  4 for0 against
• 2 - To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Report of the Auditors thereon

  4 for0 against
• 3 - To declare a final dividend of Rs.2.50 per Equity Share of Rs.10/- each for the financial year ended March 31, 2026

  4 for0 against
• 4 - To appoint a Director in place of Mr. Jayeshkumar Chandrakant Shah (DIN: 00224935), who retires by rotation and being eligible offers himself for re-appointment.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund

  • Angel One Mutual FundGovernance Concern: The Company does not have required number of retiring directors on the Board as required under Section 152 (6)(a) of the Companies Act, 2013 and the director is Nomination & Remuneration Committee member, thus, he is equally responsible for such non-compliance.
  • Edelweiss Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance Concern: The Company does not have required number of retiring directors on the Board as required under Section 152 (6)(a) of the Companies Act, 2013 and the director is NRC member, thus, he is equally responsible for such non-compliance.

  2 for2 against
• 5 - Appointment of Secretarial Auditors

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund

  • Angel One Mutual FundGovernance Concern: Failure to highlight previous non-compliance by the Company in the Secretarial Audit Report or Compliance Report for FY 2025-26.
  • Edelweiss Mutual FundCompliant with law. The Company has made adequate disclosures w.r.t the profile, credential and proposed fees. Governance Concern: Failure to highlight previous non-compliance by the Company in the Secretarial Audit Report or Compliance Report for FY 2025-26.

  2 for2 against
• 6 - Approval for payment of commission to Non-Executive Directors (including Non-Independent and Independent Directors) of the Company

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund

  • Angel One Mutual FundGovernance & Transparency Concern: Company has not provided absolute cap on the maximum commission payable to a single Non-Executive Director and such approval has been sought in perpetuity. Further, since no commission was paid during the previous FY and this is the first proposed post-listing, there is insufficient data to determine whether future commission payment will be fair.
  • DSP Mutual FundThe company proposes paying commission to its Non-Executive Directors, including Independent Directors. The commission will be determined based on attendance, participation, responsibilities and contribution. In the past, no commission was paid to Non-Executive Directors. For FY26, 1.0% of net profits is ~ Rs. 24.4 mn. Although the proposed commission to Non-Executive Directors is in line with market practice, the company has not defined a term for the validity of the resolution and thus, it is effectively valid in perpetuity. We believe shareholders must be able to periodically review such resolutions and, therefore, do not support the resolution.
  • Edelweiss Mutual FundCompliant with law. Governance & Transparency Concern: Company has not provided absolute cap on the maximum commission payable to a single NED and such approval has been sought in perpetuity. Further, since no commission was paid during the previous FY and this is the first proposed post-listing, there is insufficient data to determine whether future commission payment will be fair.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted as the approval will be valid till perpetuity and shareholders will not get to review the payments in the future.

  0 for4 against
• 7 - To approve the payment of remuneration to Non-Executive Director –Mr. Jayeshkumar Chandrakant Shah

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, HSBC Mutual Fund

  • Angel One Mutual FundGovernance & Transparency Concern: Proposed commission appears excessive and not adequately justified. Furthermore, as an Nomination & Remuneration Committee Member, he is accountable for the non-compliance with regards to Section 152 of the Companies Act as well as accepting the proposed commission which appears excessive.
  • Edelweiss Mutual FundCompliant with law. No concern on merits of director. Governance & Transparency Concern: Proposed commission appears excessive and not adequately justified. Furthermore, as an NRC Member, he is accountable for the non-compliance w.r.t Section 152 of the Companies Act as well as accepting the proposed commission which appears excessive.
  • HSBC Mutual FundA vote AGAINST this resolution is warranted because: • • The proposed commission of INR 7.5 million represents a significant increase over the director's historical remuneration, while the basis for determining the payout has not been disclosed. • The proposed remuneration is deemed high for a non-executive role and the pay structure comprises a fixed element, which is more indicative of an executive role within the company.

  1 for3 against
• 8 - Amendment in Articles of Association

  4 for0 against
• 9 - To take approval of Members for waiver/forgoing of dividend rights by the Members

  4 for0 against

• Fine or penaltyRegistrar of Companies (ROC)Since 14 May 2026

  The Company was required to appoint Key Managerial Personnel i.e Company Secretary by 27/10/2016 but the appointment was made on 30/11/2018

  An application under Section 441 of the Companies Act, 2013 was filed by the Company and its 2 Directors seeking compounding of the contravention under Section 203 of the Companies Act, 2013.

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

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

Yes

The filing has a part on fines and penalties

Yes

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.