Sterling and Wilson Renewable Energy MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 2 Jul 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

• a. Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2026, and the reports of the Board and the Auditors thereon; and b. Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, and the report of the Auditors thereon.MoreLess

  1 for0 against
• Appointment of Mr. Khurshed Yazdi Daruvala (DIN: 00216905), Non-Executive Director of the Company, who retires by rotation as a Director

  1 for0 against
• Appointment of Branch Auditors

  1 for0 against
• Approval of Material Related Party Transaction(s) with Shapoorji Pallonji and Company Private Limited

  1 for0 against
• Approval of waiver of recovery of excess remuneration paid to Mr. Chandra Kishore Thakur, Manager of the Company, during the financial year 2025–26

  1 for0 against

Mutual fund votes, meeting of 21 Aug 2025, 15 fund houses

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

• a. Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, and the reports of the Board and the Auditors thereon. b. Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, and the report of the Auditors thereonMoreLess

  15 for0 against
• To appoint Mr. Balanadu Narayan (DIN: 00007129), Non- Executive Director of the Company, who retires by rotation as a Director

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundThe director’s re-appointment beyond 75 years of age is being proposed through an ordinary resolution, instead of the special resolution.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNo concern on the merits of the Director. Non-Compliance under SEBI (LODR) Regulations: The director’s re-appointment beyond 75 years of age is being proposed through an ordinary resolution, instead of the special resolution which is required by law.

  10 for5 against
• To approve appointment of Branch Auditors

  14 for0 against
• To Approve appointment of M/s. Manish Ghia and Associates as Secretarial Auditors

  15 for0 against
• To approve re-appointment of Mr. Chandra Kishore Thakur as the Manager of the Company.

  ›Against Axis Mutual Fund, Bank of India Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Axis Mutual Fund, Bank of India Mutual FundChandra Kishore Thakur, 64, is Global Chief Executive Officer and Manager of the Company. He has been with the company since 2018. The company proposes to reappoint him as Manager for two years from 1 September 2025. While we support Chandra Kishore Thakur’s reappointment as Manager, we do not support the resolution because the terms of his proposed remuneration are unclear. We are unable to estimate the level of his proposed remuneration because there is no clarity on the stock option grants and variable pay that he is likely to receive during the proposed term. We expect companies to disclose a maximum cap on the proposed remuneration, which would enable us to make a more informed decision with respect to the proposed remuneration. As good practice, we recommend companies build malus and clawback clauses into remuneration agreements for executive directors.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundProfile of the candidate
  • SBI Mutual FundChandra Kishore Thakur, 64, is Global Chief Executive Officer and Manager of the Company. He has been with the company since 2018. The company proposes to reappoint him as Manager for two years from 1 September 2025. While we support Chandra Kishore Thakur’s reappointment as Manager, we do not support the resolution because the terms of his proposed remuneration are unclear. We are unable to estimate the level of his proposed remuneration because there is no clarity on the stock option grants and variable pay that he is likely to receive during the proposed term. We do not support the resolution.

  10 for5 against
• To consider and approve Sterling and Wilson Renewable Energy Limited - Employee Stock Option Plan II 2025

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Angel One Mutual FundNon-Disclosure of Exercise Price. Governance Concern: Nomination & Remuneration Committee has absolute discretion to determine the Exercise Price; this does not allow the shareholders to estimate the overall cost and the likely benefit that may arise from the grant of stock options.
  • Axis Mutual Fund, Bank of India Mutual FundUnder the plan, options convertible upto ~1.9 mn equity shares will be issued. The dilution under the plan will be ~0.8% on the expanded capital base (as on 31 March 2025). The amended scheme does not provide clarity with respect to exercise price and vesting criteria – it allows the NRC the flexibility to decide. In the absence of clarity, we are unable to evaluate if the scheme contours align with investor interest. We do not favour schemes where there is no clarity on exercise price, or the exercise price is at a significant discount (>20%) to market price, unless the scheme has performance-based vesting conditions with clearly defined parameters and targets. Given these reasons, we do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundNon-Compliant under SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price as per SEBI Regulations. Governance Concern: NRC has absolute discretion to determine the Exercise Price; this does not allow the shareholders to estimate the overall cost and the likely benefit that may arise from the grant of Stock Options.
  • HDFC Mutual FundLack of clarity on the pricing of the ESOPS. We do not support the resolution.
  • Kotak Mahindra Mutual FundUnder the plan, options convertible upto ~1.9 mn equity shares will be issued. The dilution under the plan will be ~0.8% on the expanded capital base (as on 31 March 2025). The amended scheme does not provide clarity with respect to exercise price and vesting criteria it allows the NRC the flexibility to decide. In the absence of clarity, we are unable to evaluate if the scheme contours align with investor interest. We do not favour schemes where there is no clarity on exercise price. Given these reasons, we do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundNon-Compliant under SEBI (SBEB & SE) Regulations: Non-Disclosure of Exercise Price as per SEBI Regulations.
  • SBI Mutual FundUnder the plan, options convertible upto ~1.9 mn equity shares will be issued. The dilution under the plan will be ~0.8% on the expanded capital base (as on 31 March 2025). The amended scheme does not provide clarity with respect to exercise price and vesting criteria – it allows the NRC the flexibility to decide. We do not support the resolution.

  2 for13 against
• To consider and approve the grant of employee stock options to the eligible employees of the subsidiary company(ies) of the Company under Sterling and Wilson Renewable Energy Limited - Employee Stock Option Plan II 2025MoreLess

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Bank of India Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, HDFC Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund

  • Angel One Mutual FundConcerns are inter-linked with Resolution #6: Since the proposed ESOP Scheme has not disclosed the Exercise Price, the same concern shall arise in the extension of Scheme Benefits to the Subsidiary Entities as well.
  • Axis Mutual Fund, Bank of India Mutual Fund, Kotak Mahindra Mutual FundThrough a separate resolution, the company proposes extending the scheme to employees of the subsidiary companies and associate companies. We do not support the extension of the scheme to employees of associate companies. Further, our view on this resolution is linked to our view on resolution #6. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual FundConcerns are inter-linked with Resolution #6: Since the proposed ESOP Scheme has not disclosed the Exercise Price as per SEBI Regulations, the same concern shall arise in the extension of Scheme Benefits to the Subsidiary Entities as well.
  • HDFC Mutual FundLack of clarity on the pricing of the ESOPS. We do not support the resolution.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundConcerns are inter-linked with Resolution #6: Since the proposed ESOP Scheme has not disclosed the Exercise Price as per SEBI Regulations
  • SBI Mutual FundUnder the plan, options convertible upto ~1.9 mn equity shares will be issued. The dilution under the plan will be ~0.8% on the expanded capital base (as on 31 March 2025). The amended scheme does not provide clarity with respect to exercise price and vesting criteria – it allows the NRC the flexibility to decide. We do not support the resolution.

  2 for13 against

• Tax disputeFidelity and Deposit Company of Maryland and Zurich American Insurance CompanySince 31 May 2022
  Sterling and Wilson Solar Solutions Inc. (wholly owned step-down subsidiary of the Company), Fidelity and Deposit Company of Maryland and Zurich American Insurance Company have entered into a settlement agreement to release and discharge each other from all the claims and counter claims. The parties have filed a motion for dismissal and Court has passed an order of dismissal of the legal proceedings on April 20, 2026. The matter stands closed with no further claims or liabilities remaining and with no material financial impact on the Company.MoreLess
  At the filing before: Proceedings related to encashment of a Bond
• Tax disputeConti, LLC, USASince 11 May 2022
  Sterling and Wilson Solar Solutions Inc., (wholly owned step-down subsidiary of the Company) made all payments to Conti, LLC, USA as awarded by the Arbitration Tribunal.
  At the filing before: The Arbitral Tribunal has passed its Final Award and granted an additional amount towards attorney’s fees, costs, and expenses of USD 4.97 million (equivalent to approximately INR 44.45 crore) to Conti LLC in addition to the amount granted under Interim Award plus interest.MoreLess

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

No

The filing has a part on fines and penalties

No

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.