Talwalkars Better Value Fitness MD, chairman, board of directors and AGM

BSE: 533200Leisure Services

Trading suspended since 23 Mar 2021

Last traded ₹1.45 on 22 Mar 2021

Talwalkars Better Value Fitness 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

  • Managing directorArvind Pradhan Bhanushali
  • ChairpersonShilpa Singh

5 directors2 independent2 executive1 non-executive

  • Arvind Pradhan Bhanushali · Managing directorExecutive · joined Mar 2026 · 1 listed board
  • Kurjibhai Premjibhai RupareliyaExecutive · joined Mar 2026 · 3 listed boards
  • Shilpa Singh · ChairpersonNon-executive · joined Mar 2026 · 1 listed board · 2 committee seats
  • Priyanshu ShethIndependent · joined Mar 2026 · 4 months as independent · 1 listed board · 1 as independent · 4 committee seats
  • Jignesh R. LasaniawalaIndependent · joined Mar 2026 · 4 months as independent · 2 listed boards · 2 as independent

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

    • 30 May 20265 of 5 present2 independent · 45 days in between
    • 14 Apr 20265 of 5 present2 independent · 28 days in between
    • 16 Mar 20265 of 5 present2 independent

  • Audit Committee

    Chair Jignesh R. Lasaniawala

    Priyanshu Sheth, Shilpa Singh

    • 30 May 20263 of 3 present2 independent · 45 days in between
    • 14 Apr 20263 of 3 present2 independent · 28 days in between
    • 16 Mar 20263 of 3 present2 independent

  • Nomination and remuneration committee

    Chair Jignesh R. Lasaniawala

    Priyanshu Sheth, Shilpa Singh

    • 14 Apr 20263 of 3 present2 independent

  • Stakeholders Relationship Committee

    Chair Jignesh R. Lasaniawala

    Priyanshu Sheth, Shilpa Singh

    • 30 May 20263 of 3 present2 independent · 45 days in between

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 Sep 2026.

  • S K Bhavsar & Co.Peer-review certificate valid to Jun 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.

Talwalkars Better Value Fitness 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.Talwalkars Better Value Fitness dividend history

Annual general meeting, 30 Sep 2026

21,602 shareholders on the register on 23 Sep 2026; present: 0 promoters and 32 others; votes counted by Pooja M Patel / POOJA M PATEL & ASSOCIATES.The company's voting result (opens in a new tab)

  1. Consideration and adoption of the Audited Financial Statements of the Company for the financial year ended 31st March, 2026 together with the reports of the Board of Directors and Auditor's Report thereonMoreLess
    Ordinary
    99.70% for0.30% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.30%

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

  2. Re-Appointment of a Director in place of Ms. Shilpa Singh (DIN: 08448114), who retires by rotation and being eligible offers himself for re-appointment
    Ordinary
    98.64% for1.36% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.36%

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

  3. Appointment of M/s. S K Bhavsar & Co., Chartered Accountants (FRN: 0145880W), as the Statutory Auditor of the Company
    Ordinary
    99.62% for0.38% against

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

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

  4. Regularisation of Appointment of Ms. Meena Arvind Bhanushali (DIN: 10816424) As Managing Director
    Ordinary
    99.16% for0.84% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.84%

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

  5. Adoption of New Memorandum of Association and Insertion of Additional Main Objects
    Special
    99.16% for0.84% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.84%

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

  6. Appointment of M/s. Pooja M. Patel & Associates Practicing Company Secretary as Secretarial Auditor of the Company
    Ordinary
    99.16% for0.84% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.84%

    Turnout: all 0.15% · promoters 0.00% · institutions 0.00% · other public 0.25%

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, 27 Sep 2018, 7 resolutions

Present: 11 promoters and 41 others.The company's voting result (opens in a new tab)

  1. ADOPTION OF FINANCIAL STATEMENT AND CONSOLIDATED FINANCIAL STATEMENT AS ON 31.03.2018
    Ordinary
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.45%

    Turnout: all 46.26% · promoters 100.00% · institutions 48.52% · other public 11.47%

  2. DECLARE DIVIDEND ON EQUITY SHARES FOR THE YEAR ENDED 31.03.2018
    Ordinary
    99.80% for0.20% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.46%

    Turnout: all 47.61% · promoters 100.00% · institutions 77.91% · other public 11.47%

  3. TO APPOINT A DIRECTOR IN PLACE OF MR. VINAYAK GAWANDE WHO RETIRES BY ROTATION AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT
    Ordinary
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.53%

    Turnout: all 47.61% · promoters 100.00% · institutions 77.91% · other public 11.47%

  4. TO APPOINT MR GIRISH TALWALKAR WHO RETIRES BY ROTATION AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT
    Ordinary
    99.79% for0.21% against

    Against: promoters 0.00% · institutions 0.00% · other public 1.50%

    Turnout: all 47.61% · promoters 100.00% · institutions 77.91% · other public 11.47%

  5. RATIFICATION OF APPOINTMENT OF M/s M K DANDEKER & CO, CHARTERED ACCOUNTANTS AS THE STATUTORY AUDITORS OF THE COMPANY
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 47.61% · promoters 100.00% · institutions 77.91% · other public 11.47%

  6. APPROVAL FOR THE OFFER OR INVITATION TO SUBSCRIBE TO NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
    Special
    99.71% for0.29% against

    Against: promoters 0.00% · institutions 0.00% · other public 2.07%

    Turnout: all 47.61% · promoters 100.00% · institutions 77.91% · other public 11.47%

  7. APPROVAL FOR INVESTMENT , LOANS, GUARANTEES AND SECURITIES IN EXCESS OF LIMITS SPECIFIED US 186 OF THE COMPANIES ACT, 2013
    Special
    99.63% for0.37% against

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

    Turnout: all 46.26% · promoters 100.00% · institutions 48.52% · other public 11.47%

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 27 Sep 2018, 1 fund house

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

  • ADOPTION OF FINANCIAL STATEMENT AND CONSOLIDATED FINANCIAL STATEMENT AS ON 31.03.2018
    0 for0 against

    1 abstained

  • DECLARE DIVIDEND ON EQUITY SHARES FOR THE YEAR ENDED 31.03.2018
    1 for0 against
  • TO APPOINT A DIRECTOR IN PLACE OF MR. VINAYAK GAWANDE WHO RETIRES BY ROTATION AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT
    1 for0 against
  • TO APPOINT MR GIRISH TALWALKAR WHO RETIRES BY ROTATION AND BEING ELIGIBLE OFFERS HIMSELF FOR REAPPOINTMENT
    1 for0 against
  • APPROVAL FOR THE OFFER OR INVITATION TO SUBSCRIBE TO NON-CONVERTIBLE DEBENTURES ON PRIVATE PLACEMENT BASIS
    1 for0 against
  • APPROVAL FOR INVESTMENT , LOANS, GUARANTEES AND SECURITIES IN EXCESS OF LIMITS SPECIFIED US 186 OF THE COMPANIES ACT, 2013
    0 for0 against

    1 abstained

1 proposal not matched to one resolution
  • Ratify MK Dandekar & Co as statutory auditors for FY19 and authorize the board to fix their remuneration
    1 for0 against

Mutual fund votes, meeting of 28 Sep 2017, 1 fund house

  • Adoption of the audited financial statements of the Company for the financial year ended 31st March, 2017, the reports of the Board of Directors and Auditors thereon
    1 for0 against
  • Approval for the offer or invitation to subscribe to Non-Convertible Debentures on private placement basis
    1 for0 against
  • Declaration of dividend on Equity Shares for the year ended 31st March, 2017
    1 for0 against
  • Ratification of Appointment of M/s. M. K. Dandeker & Co., Chartered Accountants, Mumbai as Statutory Auditors
    1 for0 against
  • Ratify issue of upto 1.3 mn equity shares on preferential basis to the promoter group
    1 for0 against
  • Re-appointment of Mr. Harsha Bhatkal, who retires by rotation and being eligible offers himself for re-appointment
    1 for0 against
  • Re-appointment of Mr. Madhukar Talwalkar, who retires by rotation and being eligible offers himself for re-appointment
    1 for0 against
5 earlier meetings

Mutual fund votes, meeting of 23 Aug 2017, 1 fund house

  • Approve private placement of Non-Convertible Debentures upto an amount of Rs 5.0 bn
    0 for0 against

    1 abstained

  • Creation of mortgage/charge on the assets of the company up to Rs.6.75 bn
    0 for0 against

    1 abstained

  • Increase borrowing limit from Rs. 6.0 bn to Rs.6.75 bn (apart from temporary loans)
    0 for0 against

    1 abstained

  • Issue of upto 1.3 mn equity shares on preferential basis to the promoter group
    0 for0 against

    1 abstained

Mutual fund votes, meeting of 10 Sep 2015, 1 fund house

  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Approve Dividend Payment
    1 for0 against
  • Approve M. K. Dandeker & Company as Auditors and Authorize Board to Fix Their Remuneration
    1 for0 against
  • Authorize Issuance of Non-Convertible Debentures
    1 for0 against
  • Elect M. Deshmukh as Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST M. Deshmukh is warranted because they are non-independent director nominees on a board chaired by an executive director and is not one-half independent.
    0 for1 against
  • Elect M. Talwalkar as Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST M. Talwalkar is warranted because they are non-independent director nominees on a board chaired by an executive director and is not one-half independent.
    0 for1 against
  • Elect V. Gawande as Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST V. Gawande is warranted because they are non-independent director nominees on a board chaired by an executive director and is not one-half independent.
    0 for1 against

Mutual fund votes, meeting of 11 May 2015, 1 fund house

  • Adopt New Articles of Association
    1 for0 against
  • Amend Memorandum of Association to Reflect Increase in Capital
    1 for0 against
  • Approve Issuance of Equity or Equity-Linked Securities without Preemptive Rights
    1 for0 against
  • Authorize Issuance of Debentures
    1 for0 against
  • Increase Authorized Share Capital
    1 for0 against

Mutual fund votes, meeting of 19 Jan 2015, 1 fund house

  • Approve Pledging of Assets for Debt
    1 for0 against

Mutual fund votes, meeting of 18 Sep 2014, 1 fund house

  • Accept Financial Statements and Statutory Reports
    1 for0 against
  • Approve Dividend of INR 1.50 Per Share
    1 for0 against
  • Approve Franchise Agreement with Aspire Fitness Private Limited.
    1 for0 against
  • Approve Franchise Agreement with Denovo Enterprises Limited.
    1 for0 against
  • Approve Franchise Agreement with Equinox Wellness Private Limited.
    1 for0 against
  • Approve Franchise Agreement with Jyotsna Fitness Private Limited.
    1 for0 against
  • Approve Increase in Borrowing Powers
    1 for0 against
  • Approve M. K. Dandeker & Company as Auditors and Authorize Board to Fix Their Remuneration
    1 for0 against
  • Approve Reappointment and Remuneration of A. Gawande as Executive Director and CFO
    1 for0 against
  • Approve Reappointment and Remuneration of G. Talwalkar as Executive Director
    1 for0 against
  • Approve Reappointment and Remuneration of H. Bhatkal as Executive Director
    1 for0 against
  • Approve Reappointment and Remuneration of M. Talwalkar as Executive Chairman
    1 for0 against
  • Approve Reappointment and Remuneration of P. Talwalkar as Managing Director and CEO
    1 for0 against
  • Approve Reappointment and Remuneration of V. Gawande as Executive Director
    1 for0 against
  • Authorize Offer or Invitation to Subscribe to Non-Convertible Debentures
    1 for0 against
  • Elect A. Patil as Independent Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST the following nominees is warranted because: o R. Maroo, M. Jayakar, A. Patil and D. Afzulpurkar have attended less than 75 percent of board and committee meetings over the most recent fiscal year, without a satisfactory explanation.
    0 for1 against
  • Elect A. Phadke as Independent Director
    1 for0 against
  • Elect D. Afzulpurkar as Independent Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST the following nominees is warranted because: o R. Maroo, M. Jayakar, A. Patil and D. Afzulpurkar have attended less than 75 percent of board and committee meetings over the most recent fiscal year, without a satisfactory explanation.
    0 for1 against
  • Elect M. Bhide as Independent Director
    1 for0 against
  • Elect M. Jayakar as Independent Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST the following nominees is warranted because: o R. Maroo, M. Jayakar, A. Patil and D. Afzulpurkar have attended less than 75 percent of board and committee meetings over the most recent fiscal year, without a satisfactory explanation.
    0 for1 against
  • Elect R. Maroo as Independent Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST the following nominees is warranted because: o R. Maroo, M. Jayakar, A. Patil and D. Afzulpurkar have attended less than 75 percent of board and committee meetings over the most recent fiscal year, without a satisfactory explanation.
    0 for1 against
  • Reelect A. Gawande as Director
    Against Franklin Templeton Mutual Fund
    • Franklin Templeton Mutual FundA vote AGAINST the following nominees is warranted because: o A. Gawande is an executive director serving on the audit committee
    0 for1 against
  • Reelect H. Bhatkal as Director
    1 for0 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
No
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.