TCI Express logo

TCI Express MD, chairman, board of directors and AGM

NSE: TCIEXPBSE: 540212Transport ServicesSmall Cap

Last close ₹458.70down ₹9.85 (2.10%)BSE ₹459.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹468.55.

52-week range of traded prices to 23 Oct 2026
₹447.55Low, 27 Mar 2026₹705.00High, 3 Nov 2025
Market cap
₹1,763 Cr1,149th largest listed
P/E
21.4
P/B
2.2
Dividend yield
1.53%
ROE
10.4%
ROCE
11.9%
Debt to equity
0.04
Volume, NSE
14,52641.4% delivered

TCI Express 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

  • ChairpersonDharmpal AgarwalRelated to the promoter
  • Managing directorChander Agarwal
  • Company Secretary and Compliance OfficerPriyanka

8 directors4 independent2 executive2 non-executive

  • Dharmpal Agarwal · ChairpersonNon-executive · joined Oct 2015 · reappointed Jul 2025 · 4 listed boards · 1 as independent · 1 committee seat
  • Taruna SinghiIndependent · joined Jan 2017 · reappointed Jan 2022 · 113 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • Murali Krishna ChevuturiIndependent · joined Aug 2016 · reappointed Aug 2021 · 118 months as independent · 1 listed board · 1 as independent · 1 committee seat, 1 as chair
  • PhoolChand SharmaIndependent · joined Aug 2016 · reappointed May 2025 · 13 months as independent · 1 listed board · 1 as independent · 5 committee seats, 3 as chair
  • Prashant JainIndependent · joined Aug 2016 · reappointed Aug 2021 · 118 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Vineet AgarwalNon-executive · joined Oct 2015 · reappointed Aug 2023 · 4 listed boards · 2 as independent · 5 committee seats
  • Chander Agarwal · Managing directorExecutive · joined Oct 2015 · reappointed Aug 2021 · 2 listed boards · 2 committee seats
  • Mukti LalExecutive · joined May 2025 · 1 listed board

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.

1 director who left
  • Ashok Kumar Ladha, left 27 Jun 2025: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 27 May 20268 of 8 present4 independent · 112 days in between
    • 3 Feb 20267 of 8 present3 independent

  • Audit Committee

    Chair Murali Krishna Chevuturi

    Vineet Agarwal, Prashant Jain, PhoolChand Sharma

    • 27 May 20264 of 4 present3 independent · 112 days in between
    • 3 Feb 20263 of 4 present2 independent

  • Nomination and remuneration committee

    Chair PhoolChand Sharma

    Dharmpal Agarwal, Murali Krishna Chevuturi, Prashant Jain

    • 27 May 20264 of 4 present3 independent · 112 days in between
    • 3 Feb 20263 of 4 present2 independent

  • Stakeholders Relationship Committee

    Chair Taruna Singhi

    Vineet Agarwal, PhoolChand Sharma

    • 25 May 20263 of 3 present2 independent · 18 days in between

  • Risk Management Committee

    Chair Prashant Jain

    Chander Agarwal, PhoolChand Sharma, Mukti Lal

    • 6 May 20264 of 4 present2 independent · no day in between

  • Corporate Social Responsibility Committee

    Chair Dharmpal Agarwal

    Taruna Singhi, Chander Agarwal

    • 5 May 20263 of 3 present1 independent

  • Independent Director Meeting

    • 25 May 20264 of 4 present4 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.

  • M/s. Brahmayya & Co., Chartered AccountantPeer-review certificate valid to Apr 2027
1 earlier auditor
  • R S Agarwala and CoNamed 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.

TCI Express 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.TCI Express dividend history

Annual general meeting, 6 Aug 2026

49,338 shareholders on the register on 30 Jul 2026; present: 12 promoters and 49,326 others; votes counted by Mr. Vasanth Kumar Bajaj / V K Bajaj & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) for the financial year ended March 31, 2026 and the Reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 78.08% · promoters 98.48% · institutions 100.00% · other public 24.96%

  2. To appoint Director in place of Mr. Vineet Agarwal (DIN: 00380300), who retires by rotation and being eligible, offers himself for re-appointment,
    OrdinaryPromoters have an interest in it
    99.52% for0.48% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.19%

    Turnout: all 60.87% · promoters 71.28% · institutions 100.00% · other public 24.96%

  3. To consider and approve appointment of Mr. Pavan Kumar Munjuluri (DIN: 01514557) as a Non-Executive Independent Director of the Company, for a first term of five (5) consecutive years,
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 78.08% · promoters 98.48% · institutions 100.00% · other public 24.96%

  4. To consider and approve appointment of Mr. Vikram Singh Mehta (DIN: 02200425) as a Non-Executive Independent Director of the Company, for a first term of five (5) consecutive years,
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 78.08% · promoters 98.48% · institutions 100.00% · other public 24.96%

  5. To consider and approve re-appointment of Mr. Chander Agarwal (DIN: 00818139) as Managing Director of the Company, for a further term of five (5) consecutive years, including approval of remuneration and the terms and conditions of his re-appointmentMoreLess
    SpecialPromoters have an interest in it
    90.87% for9.13% against

    Against: promoters 0.00% · institutions 63.77% · other public 4.01%

    Turnout: all 64.29% · promoters 76.70% · institutions 100.00% · other public 24.96%

  6. To consider and approve payment of remuneration by way of commission to the Non-Executive and/or Independent Directors
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.19%

    Turnout: all 71.77% · promoters 88.51% · institutions 100.00% · other public 24.96%

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, 23 Jul 2025, 9 resolutions

52,244 shareholders on the register on 16 Jul 2025; present: 11 promoters and 61 others; votes counted by Mr. Vasanth Kumar Bajaj / V K Bajaj & Associates.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Financial Statements (Standalone and consolidated Financial Statements) for the financial year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 76.49% · promoters 95.34% · institutions 94.70% · other public 0.86%

  2. To declare final dividend on equity shares of the Company, for the financial year ended March 31, 2025, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 76.49% · promoters 95.34% · institutions 94.70% · other public 0.86%

  3. To appoint Director in place of Mr. Dharmpal Agarwal (DIN: 00084105), who will attain the age of seventy-five years and who retires by rotation and being eligible, offers himself for re-appointment, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    SpecialPromoters have an interest in it
    97.01% for2.99% against

    Against: promoters 0.00% · institutions 3.02% · other public 1.37%

    Turnout: all 10.21% · promoters 0.00% · institutions 94.70% · other public 0.86%

  4. Appointment of M/s. Brahmayya & Co., as the Statutory Auditors of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary Resolution
    Ordinary
    88.34% for11.66% against

    Against: promoters 0.00% · institutions 88.83% · other public 0.01%

    Turnout: all 76.49% · promoters 95.34% · institutions 94.70% · other public 0.86%

  5. Appointment of M/s. PI & Associates, Practicing Company Secretary, as the Secretarial Auditors of the Company, and in this regard, to consider and, if thought fit, pass the following Resolution as an Ordinary ResolutionMoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 76.49% · promoters 95.34% · institutions 94.70% · other public 0.86%

  6. Change in designation and appointment of Mr. Phool Chand Sharma, currently serving as a Non-Executive Director, as an Independent Director of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Special
    87.94% for12.06% against

    Against: promoters 0.00% · institutions 91.85% · other public 0.28%

    Turnout: all 76.49% · promoters 95.34% · institutions 94.70% · other public 0.86%

  7. Appointment of Mr. Mukti Lal, currently serving as Chief Financial Officer, as an Executive Director and Chief Financial Officer (‘CFO’) of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Special
    91.87% for8.13% against

    Against: promoters 0.00% · institutions 61.91% · other public 0.01%

    Turnout: all 76.45% · promoters 95.34% · institutions 94.70% · other public 0.69%

  8. Re-pricing of stock options granted to the employees of the Company, under ‘Employee Stock Option Plan-2016’ and extending vesting and exercise period of the same, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Special
    87.91% for12.09% against

    Against: promoters 0.00% · institutions 91.94% · other public 0.78%

    Turnout: all 76.37% · promoters 95.34% · institutions 94.70% · other public 0.26%

  9. Amendment to the Employee Stock Option Plan-2016 by extending vesting and exercise period of stock options to be granted by the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Special
    91.65% for8.35% against

    Against: promoters 0.00% · institutions 63.52% · other public 0.78%

    Turnout: all 76.37% · promoters 95.34% · institutions 94.70% · other public 0.26%

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.

Annual general meeting, 13 Aug 2024, 3 resolutions

Present: 13 promoters and 72 others.The company's voting result (opens in a new tab)

  1. a)Adoption of the Audited standalone financial statement of the Company for the financial year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereonnb)Adoption of the Audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of Auditors thereonMoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.92% · promoters 98.43% · institutions 94.00% · other public 1.18%

  2. To declare final dividend on equity shares of the Company, for the financial year ended March 31, 2024
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.92% · promoters 98.43% · institutions 94.00% · other public 1.18%

  3. To appoint a Director in place of Mr. Phool Chand Sharma (DIN: 01620437), who retires by rotation and being eligible, offers himself for re-appointment
    Ordinary
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.21% · other public 0.16%

    Turnout: all 79.92% · promoters 98.43% · institutions 94.00% · other public 1.18%

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, 4 Aug 2023, 4 resolutions

Present: 11 promoters and 70 others.The company's voting result (opens in a new tab)

  1. Adoption of the Audited standalone financial statement of the Company for the financial year ended March 31, 2023 and the reports of the Board of Directors and Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.75% · promoters 100.00% · institutions 90.08% · other public 5.09%

  2. Adoption of the Audited consolidated financial statement of the Company for the financial year ended March 31, 2023 and the report of Auditors thereon
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.75% · promoters 100.00% · institutions 90.08% · other public 5.09%

  3. Declaration of dividend for the financial year ended March 31, 2023
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 80.75% · promoters 100.00% · institutions 90.08% · other public 5.09%

  4. Appointment of Mr. Vineet Agarwal (DIN: 00380300) as a Director liable to retire by rotation
    OrdinaryPromoters have an interest in it
    99.02% for0.98% against

    Against: promoters 0.00% · institutions 6.30% · other public 0.00%

    Turnout: all 65.21% · promoters 77.69% · institutions 90.08% · other public 5.09%

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, 3 Aug 2022, 7 resolutions

Present: 8 promoters and 54 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statement of the Company, for the financial year ended 31st March, 2022, along with the report of the Board of Director’s and Auditor’s thereon;MoreLess
    Ordinary
    99.98% for0.02% against

    Against: promoters 0.00% · institutions 0.13% · other public 0.00%

    Turnout: all 81.07% · promoters 100.00% · institutions 85.73% · other public 17.81%

  2. To declare a final dividend on equity shares for the financial year ended on March 31, 2022
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 81.09% · promoters 100.00% · institutions 85.92% · other public 17.81%

  3. To appoint a Director in place of Mr. Dharmpal Agarwal (DIN-00084105), who retires by rotation and being eligible, offers himself for re-appointment
    OrdinaryPromoters have an interest in it
    99.27% for0.73% against

    Against: promoters 0.00% · institutions 0.98% · other public 0.01%

    Turnout: all 14.46% · promoters 0.00% · institutions 85.92% · other public 17.81%

  4. Amendment to the Employee Stock Option Scheme-2016
    Special
    98.83% for1.17% against

    Against: promoters 0.00% · institutions 8.94% · other public 0.04%

    Turnout: all 80.94% · promoters 100.00% · institutions 84.66% · other public 17.81%

  5. To extend the benefits under Employees Stock Option Scheme 2016 to the Employees of Subsidiaries Companies of the Company, if any
    Special
    95.03% for4.97% against

    Against: promoters 0.00% · institutions 37.97% · other public 0.03%

    Turnout: all 80.94% · promoters 100.00% · institutions 84.66% · other public 17.81%

  6. To extend the benefits under Employees Stock Option Scheme 2016 to the Employees of the Group Company(ies) including Associate Company(ies) of the Company, if any
    Special
    89.68% for10.32% against

    Against: promoters 0.00% · institutions 78.89% · other public 0.03%

    Turnout: all 80.94% · promoters 100.00% · institutions 84.66% · other public 17.81%

  7. To approve buyback of Equity shares of the Company
    Special
    99.82% for0.18% against

    Against: promoters 0.00% · institutions 1.37% · other public 0.02%

    Turnout: all 81.08% · promoters 100.00% · institutions 85.81% · other public 17.81%

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.

Annual general meeting, 28 Jul 2021, 9 resolutions

Present: 26 promoters and 33,276 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2021, along with the report of the Board of Director’s and Auditor’s thereonMoreLess
    Ordinary
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.46% · other public 0.00%

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  2. To declare a final dividend on equity shares for the financial year ended on March 31, 2021.
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  3. To appoint a Director in place of Mr. Phool Chand Sharma (DIN-01620437), who retires by rotation and being eligible, offers himself for re-appointment.
    Ordinary
    99.91% for0.09% against

    Against: promoters 0.00% · institutions 0.58% · other public 0.00%

    Turnout: all 79.33% · promoters 100.00% · institutions 94.99% · other public 4.35%

  4. Re-appointment of Mr. Chander Agarwal (DIN: 00818139) as the Managing Director of the Company and Remuneration payable for a further period of five (5) consecutive years
    SpecialPromoters have an interest in it
    91.99% for8.01% against

    Against: promoters 0.00% · institutions 43.70% · other public 0.01%

    Turnout: all 63.98% · promoters 76.75% · institutions 94.99% · other public 5.09%

  5. Re-appointment of Mr. Ashok Kumar Ladha (DIN 00089360) as an Independent Director of the Company for a second term of five (5) consecutive years
    Special
    99.93% for0.07% against

    Against: promoters 0.00% · institutions 0.47% · other public 0.00%

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  6. Re-appointment of Mr. Murali Krishna Chevuturi (DIN 01770851) as an Independent Director of the Company for a second term of five (5) consecutive years
    Special
    100.00% for0.00% against

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

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  7. Re-appointment of Mrs. Taruna Singhi (DIN 00635973) as an Independent Director of the Company for a second term of five (5) consecutive years
    Special
    100.00% for0.00% against

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

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  8. Re-appointment of Mr. Prashant Jain (DIN 00769291) as an Independent Director of the Company for a second term of five (5) consecutive years
    Special
    100.00% for0.00% against

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

    Turnout: all 79.49% · promoters 100.00% · institutions 94.99% · other public 5.09%

  9. To approve the payment of commission to the Non-Executive Directors and/or Independent Directors
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 75.66% · promoters 94.50% · institutions 94.99% · other public 4.35%

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, 24 Jul 2020, 3 resolutions

Present: 12 promoters and 25 others.The company's voting result (opens in a new tab)

  1. To receive, consider and adopt the Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2020, along with the report of the Board of Director’s and Auditor’s thereon.MoreLess
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 79.57% · promoters 100.00% · institutions 84.29% · other public 13.13%

  2. To appoint a Director in place of Mr. Vineet Agarwal DIN-00380300, who retires by rotation and being eligible, offers himself for reappointment.
    Ordinary
    99.81% for0.19% against

    Against: promoters 0.00% · institutions 1.57% · other public 0.00%

    Turnout: all 79.58% · promoters 100.00% · institutions 84.35% · other public 13.13%

  3. ORDINARY - To re-appoint Ms. R.S. Agarwala Co., Chartered Accountants, ICAI Firm Registration No. 304045E, as the Statutory Auditors of the Company for a second term of five 5 years.
    Ordinary
    97.53% for2.47% against

    Against: promoters 0.00% · institutions 24.51% · other public 0.00%

    Turnout: all 77.56% · promoters 100.00% · institutions 67.07% · other public 13.13%

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 Jul 2019, 3 resolutions

Present: 3 promoters and 52 others.The company's voting result (opens in a new tab)

  1. TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2019 AND THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.43% · promoters 100.00% · institutions 77.56% · other public 13.19%

  2. TO DECLARE A FINAL DIVIDEND ON EQUITY SHARES @ 30% (RE. 0.60 PER EQUITY SHARE OF RS.2.00 EACH) FOR THE FINANCIAL YEAR ENDED MARCH 31, 2019
    Ordinary
    100.00% for0.00% against

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

    Turnout: all 77.46% · promoters 100.00% · institutions 77.89% · other public 13.19%

  3. TO APPOINT A DIRECTOR IN PLACE OF MR. D.P AGARWAL (DIN:00084105) WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFER HIMSELF FOR RE-APPPOINTMENT
    Ordinary
    99.38% for0.62% against

    Against: promoters 0.00% · institutions 4.70% · other public 0.01%

    Turnout: all 56.30% · promoters 68.37% · institutions 77.89% · other public 13.19%

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.

How mutual funds voted

Fund houses must disclose how they vote at every meeting of a company they hold.

Mutual fund votes, meeting of 6 Aug 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

  • To receive, consider and adopt the Audited Financial Statements (Standalone and Consolidated) for the financial year ended March 31, 2026 and the Reports of the Board of Directors and Auditors thereon
    1 for0 against
  • To appoint Director in place of Mr. Vineet Agarwal (DIN: 00380300), who retires by rotation and being eligible, offers himself for re-appointment,
    1 for0 against
  • To consider and approve appointment of Mr. Pavan Kumar Munjuluri (DIN: 01514557) as a Non-Executive Independent Director of the Company, for a first term of five (5) consecutive years,
    1 for0 against
  • To consider and approve appointment of Mr. Vikram Singh Mehta (DIN: 02200425) as a Non-Executive Independent Director of the Company, for a first term of five (5) consecutive years,
    1 for0 against
  • To consider and approve re-appointment of Mr. Chander Agarwal (DIN: 00818139) as Managing Director of the Company, for a further term of five (5) consecutive years, including approval of remuneration and the terms and conditions of his re-appointmentMoreLess
    1 for0 against
  • To consider and approve payment of remuneration by way of commission to the Non-Executive and/or Independent Directors
    1 for0 against

Mutual fund votes, meeting of 23 Jul 2025, 6 fund houses

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

  • To receive, consider and adopt the Audited Financial Statements (Standalone and consolidated Financial Statements) for the financial year ended March 31, 2025 and the Reports of the Board of Directors and Auditors thereon, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary ResolutionMoreLess
    6 for0 against
  • To declare final dividend on equity shares of the Company, for the financial year ended March 31, 2025, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary ResolutionMoreLess
    6 for0 against
  • To appoint Director in place of Mr. Dharmpal Agarwal (DIN: 00084105), who will attain the age of seventy-five years and who retires by rotation and being eligible, offers himself for re-appointment, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with Law. No concern on the merits of proposed appointee. Governance Concern: NED Chairperson related to Managing Director and as a member of NRC is responsible for disparity in remuneration practice.
    5 for1 against
  • Appointment of M/s. Brahmayya & Co., as the Statutory Auditors of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as an Ordinary Resolution
    Against Canara Robeco Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund
    • Canara Robeco Mutual Fund, UTI Mutual FundBrahmayya & Co will replace R.S. Agarwala & Co, who will complete their second term at the conclusion of the FY25 AGM. The remuneration for Brahmayya & Co for FY26, is proposed at Rs. 1.5 mn; statutory audit fees aggregated Rs. 1.0 mn in FY25. The remuneration for the subsequent years will be mutually decided by the auditors and board of directors. Although, the proposed remuneration is in line with the complexity and scale of the business, Brahmayya & Co. have been statutory auditors of Transport Corporation of India (TCI) – a group company, since 2017. TCI Express was demerged from TCI in 2016. In assessing auditor independence, we consider cumulative tenure across the group. Given Brahmayya & Co.’s prolonged association with the group and its promoters, and that their appointment would extend the aggregate group tenure beyond 10 years, we do not support their appointment as statutory auditors.
    • HDFC Mutual FundThe company proposes to appoint Brahmayya & Co as the statutory auditor. However, Brahmayya & Co. have been statutory auditors of Transport Corporation of India (TCI) – a group company, since 2017. In assessing auditor independence, we consider cumulative tenure across the group, which extends the aggregate tenure beyond 10 years. We do not support the resolution.
    • Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Governance concern: No justification for the material change in the proposed Audit remuneration by 50%.
    • Nippon India Mutual FundGovernance concern: No justification for the material change in the proposed Audit remuneration by 50%.
    1 for5 against
  • Appointment of M/s. PI & Associates, Practicing Company Secretary, as the Secretarial Auditors of the Company, and in this regard, to consider and, if thought fit, pass the following Resolution as an Ordinary ResolutionMoreLess
    Against Motilal Oswal Mutual Fund
    • Motilal Oswal Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Governance concern: No justification for the material change in the proposed Audit remuneration by ~62%.
    5 for1 against
  • Change in designation and appointment of Mr. Phool Chand Sharma, currently serving as a Non-Executive Director, as an Independent Director of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Against Canara Robeco Mutual Fund, HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, UTI Mutual Fund
    • Canara Robeco Mutual Fund, UTI Mutual FundPhool Chand Sharma, 64, Former Whole-Time Director, has been on the board since August 2016 – initially as Whole-Time Director and post superannuation as a Non-Executive Non-Independent Director. Approval is now being sought to redesignate Phool Chand Sharma as an Independent Director from 30 May 2025. We do not support the resolution since Phool Chand Sharma has not completed the mandatory cooling period of three years between his term, his executive position and his appointment as independent director. In our opinion, the cooling period related to a complete disassociation with the company, group, and the promoters: therefore, a non-executive directorship does not construe as cooling period under our voting guidelines. Moreover, with the proposed term, his aggregate tenure on the board crosses 10 years. We do not support the resolution.
    • HDFC Mutual FundWe do not support the resolution since Mr. Phool Chand Sharma has not completed the mandatory cooling period of three years between his term, his executive position and his appointment as independent director.
    • Motilal Oswal Mutual FundCompliant with law. Governance Concern: Ex-employee; Prolonged association with the Group & No cooling off period served from his transition/appointment from NED to ID. Transparency concern: No clarity on whether proposed appointee holds non-independent position in group Company.
    • Nippon India Mutual FundGovernance Concern: Ex-employee; Prolonged association with the Group & No cooling off period served from his transition/appointment from NED to ID. Transparency concern: No clarity on whether proposed appointee holds non-independent position in group Company.
    1 for5 against
  • Appointment of Mr. Mukti Lal, currently serving as Chief Financial Officer, as an Executive Director and Chief Financial Officer (‘CFO’) of the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Against Canara Robeco Mutual Fund, HDFC Mutual Fund
    • Canara Robeco Mutual FundMukti Lal, 47, has been associated with the TCI group since 2004 and during his tenure held diverse roles. In August 2016, he was elevated to Chief Financial Officer (CFO) – TCI Express. While we support his appointment on board, we do not support the resolution due to the remuneration structure. The commission and stock option component is open-ended and uncapped. In the absence of information on the quantum, we are unable to estimate the proposed remuneration. The company should cap overall remuneration in absolute terms ; disclose quantum of options he is eligible to receive and performance parameters that govern variable pay. We do not support the resolution.
    • HDFC Mutual FundMr. Mukti Lal, 47, has been associated with the TCI group since 2004 and during his tenure held diverse roles. In August 2016, he was elevated to Chief Financial Officer (CFO) – TCI Express. We are unable to estimate the proposed remuneration. We do not support the resolution.
    4 for2 against
  • Re-pricing of stock options granted to the employees of the Company, under ‘Employee Stock Option Plan-2016’ and extending vesting and exercise period of the same, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Against HDFC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund
    • HDFC Mutual FundWe do not support ESOP granted at a significant discount to the market price. We do not support the resolution.
    • Motilal Oswal Mutual FundAlthough, compliance concerns identified in the original scheme prevail, however, amendment proposed compliant with law. Governance Concern: Re-pricing of stock options not in line with the interest of the shareholders. If investors cannot recover their actual losses due to poor performance of the Company in the markets, employees and management of the Company should not recoup their losses through option re-pricing. Further, the increased vesting period is in the form of a range which goes upto a maximum period of 5 years. If the revised vesting period is set at a period which is already served or almost served by any employee, then such an employee may be able to exercise the options at the revised price immediately without any effective increase in the vesting period. Increased Vesting Period are not supported with objective performance parameters.
    • Nippon India Mutual FundGovernance Concern: Re-pricing of stock options not in line with the interest of the shareholders.
    1 for3 against
  • Amendment to the Employee Stock Option Plan-2016 by extending vesting and exercise period of stock options to be granted by the Company, and in this regard, to consider and if thought fit, to pass the following Resolution as Special ResolutionMoreLess
    Against Canara Robeco Mutual Fund, HDFC Mutual Fund, UTI Mutual Fund
    • Canara Robeco Mutual Fund, UTI Mutual FundThe company seeks to extend the vesting period for options to be granted under the ESOP – 2016 scheme from three years to five years and exercise period for such options shall be three months from two months. While the amendment is in line with the regulations, we do not support the resolution since the scheme allows grant for options to be granted at a significant discount – past grants were at a discount of 50% to market price. We do not favor ESOP schemes where options are granted at a significant discount to the market price – greater than 20%, since stock options are ‘pay at risk’ options that employees accept at the time of grant. In the case of deeply discounted options, there is no alignment between the interests of investors and those of employees. We make an exception in cases where the vesting of such options is strictly tied to pre-defined performance parameters, and the company has disclosed the targets for such parameters. We do not support the resolution.
    • HDFC Mutual FundWe do not support ESOP granted at a significant discount to the market price. We do not support the resolution.
    3 for3 against
1 proposal not matched to one resolution
  • Amend Employee Stock Option Plan-2016 to allow for repricing of options granted in FY23 and FY24 to Rs. 400.0 per share and extend vesting and exercise period
    Against Canara Robeco Mutual Fund, UTI Mutual Fund
    • Canara Robeco Mutual Fund, UTI Mutual FundThe company seeks approval to re-price stock options granted in FY23 and FY24 to Rs. 400.0 per share and extend the vesting to five years from three and exercise period to three months versus two months. The company has stated the stock options have become unattractive as the current market price is less than the exercise price of each grant Rs. 800.0 and Rs. 750.0 for options granted in FY23 and FY24 respectively. We believe that ESOPs are ‘pay at risk’ instruments that employees accept at the time of grant. The inherent assumption of such schemes is that there could be possible downside risks – and that employees may not be rewarded in case of adverse stock price movements. By repricing, the company is attempting to protect employees’ downside risk, a protection that is not afforded to the company’s shareholders. We do not support the resolution.
    0 for2 against
6 earlier meetings

Mutual fund votes, meeting of 13 Aug 2024, 5 fund houses

  • a)Adoption of the Audited standalone financial statement of the Company for the financial year ended March 31, 2024 and the reports of the Board of Directors and Auditors thereonnb)Adoption of the Audited consolidated financial statement of the Company for the financial year ended March 31, 2024 and the report of Auditors thereonMoreLess
    5 for0 against
  • To declare final dividend on equity shares of the Company, for the financial year ended March 31, 2024
    5 for0 against
  • To appoint a Director in place of Mr. Phool Chand Sharma (DIN: 01620437), who retires by rotation and being eligible, offers himself for re-appointment
    5 for0 against

Mutual fund votes, meeting of 4 Aug 2023, 7 fund houses

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

  • Adoption of the Audited standalone financial statement of the Company for the financial year ended March 31, 2023 and the reports of the Board of Directors and Auditors thereon
    7 for0 against
  • Adoption of the Audited consolidated financial statement of the Company for the financial year ended March 31, 2023 and the report of Auditors thereon
    7 for0 against
  • Declaration of dividend for the financial year ended March 31, 2023
    5 for0 against
  • Appointment of Mr. Vineet Agarwal (DIN: 00380300) as a Director liable to retire by rotation
    7 for0 against
2 proposals not matched to one resolution
  • 3) Approve final dividend of Rs. 2.0 per equity share (face value Rs. 2.0 each) for FY23.
    1 for0 against
  • Approve final dividend of Rs. 2.0 per equity share and confirm two interim dividends aggregating to Rs. 3.0 per equity share (face value Rs. 2.0 each) for FY23
    1 for0 against

Mutual fund votes, meeting of 3 Aug 2022, 8 fund houses

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

  • To receive, consider and adopt the Audited Standalone Financial Statement of the Company, for the financial year ended 31st March, 2022, along with the report of the Board of Director’s and Auditor’s thereon;MoreLess
    7 for0 against
  • To declare a final dividend on equity shares for the financial year ended on March 31, 2022
    7 for0 against
  • To appoint a Director in place of Mr. Dharmpal Agarwal (DIN-00084105), who retires by rotation and being eligible, offers himself for re-appointment
    7 for0 against
  • Amendment to the Employee Stock Option Scheme-2016
    7 for0 against
  • To extend the benefits under Employees Stock Option Scheme 2016 to the Employees of Subsidiaries Companies of the Company, if any
    1 for0 against
  • To extend the benefits under Employees Stock Option Scheme 2016 to the Employees of the Group Company(ies) including Associate Company(ies) of the Company, if any
    Against Bank of India Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual Fund, Invesco Mutual FundFor Employee Stock Option Scheme-2016, there is no indication of the exercise price for the options, and it allows the NRC complete discretion in setting the exercise price. In the past grants have been made at discounts greater than 20%. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount of more than 20% to market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price.
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Nippon India Mutual FundStock options are granted at a significant discount
    3 for4 against
  • To approve buyback of Equity shares of the Company
    7 for0 against
9 proposals not matched to one resolution
  • Item 1, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundThe auditors’ report has not raised concerns on the financial statements. Based on the auditors’ report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (IND-AS). The statutory auditor of the company, R S Agarwala & Co, have been the auditors of Transport Corporation of India Limited, from which TCI Express demerged in 2016, for 19 years (till the 2016 AGM). R S Agarwala & Co. were appointed as statutory auditors of TCI Express in 2015. Therefore, we raise concerns regarding the independence of the auditor due to its association of more than 24 years with the TCI Group.
    0 for1 against
  • Item 2, as a fund house numbered it
    1 for0 against
  • Item 3, as a fund house numbered it
    1 for0 against
  • Item 4, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundFor Employee Stock Option Scheme-2016, there is no indication of the exercise price for the options, and it allows the NRC complete discretion in setting the exercise price. In the past grants have been made at discounts greater than 20%. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount of more than 20% to market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price.
    0 for1 against
  • Item 5, as a fund house numbered it
    Against Taurus Mutual Fund
    • Taurus Mutual FundFor Employee Stock Option Scheme-2016, there is no indication of the exercise price for the options, and it allows the NRC complete discretion in setting the exercise price. In the past grants have been made at discounts greater than 20%. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount of more than 20% to market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price.
    0 for1 against
  • Item 6, as a fund house numbered it
    1 for0 against
  • Item 7, as a fund house numbered it
    1 for0 against
  • To extend the benefits of Employees Stock Option Plan 2016 (“ESOP-2016”) to the present and future, Employees/Directors of the Subsidiary Company(ies) of the Company, wherever applicable from time to timeMoreLess
    1 for0 against
  • To extend the benefits of Employees Stock Option Plan 2016 (hereinafter referred to as “ESOP-2016”) to the present and future, Employees/Directors of the Subsidiary Company(ies) of the Company, wherever applicable from time to time, subject to such terms and conditions, as set out in the ESOP scheme.MoreLess
    Against Bank of India Mutual Fund, HDFC Mutual Fund, Invesco Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual FundFor Employee Stock Option Scheme-2016, there is no indication of the exercise price for the options, and it allows the NRC complete discretion in setting the exercise price. In the past grants have been made at discounts greater than 20%. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount of more than 20% to market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price.
    • HDFC Mutual FundThere is lack of disclosure or clarity on the pricing formula or exercise price at which the ESOP will be granted
    • Invesco Mutual FundFor Employee Stock Option Scheme-2016, there is no indication of the exercise price for the options, and it allows the NRC complete discretion in setting the exercise price. In the past grants have been made at discounts greater than 20%. We do not favour ESOP schemes where there is no clarity on the exercise price, or the options are granted at a significant discount of more than 20% to market price or where there is no clarity on the performance metrics for vesting. ESOPs are ‘pay at risk’ options that employees accept at the time of grant, which is protected if the ESOPs are issued at significant discount to the market price
    • Nippon India Mutual FundStock options are granted at a significant discount
    1 for4 against

Mutual fund votes, meeting of 28 Jul 2021, 7 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2021, along with the report of the Board of Director’s and Auditor’s thereonMoreLess
    Against Bank of India Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual FundThe statutory auditor of the company, R S Agarwala & Co, have been the auditors of Transport Corporation of India Limited, from which TCI Express demerged in 2016, for 19 years (till the 2016 AGM). R S Agarwala & Co. Were appointed as statutory auditors of TCI Express in 2015. Therefore, we raise concerns regarding the independence of the auditor due to its association of more than 23 years with the TCI Group.
    • Nippon India Mutual FundProlonged association of the auditor with group companies
    5 for2 against
  • To declare a final dividend on equity shares for the financial year ended on March 31, 2021.
    7 for0 against
  • To appoint a Director in place of Mr. Phool Chand Sharma (DIN-01620437), who retires by rotation and being eligible, offers himself for re-appointment.
    7 for0 against
  • Re-appointment of Mr. Chander Agarwal (DIN: 00818139) as the Managing Director of the Company and Remuneration payable for a further period of five (5) consecutive years
    Against Bank of India Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund
    • Bank of India Mutual FundWe estimate his FY22 remuneration at Rs. 84. 6 mn, which is higher than peers and not commensurate with the size and complexity of the business. His growth in remuneration over the last four years has outpaced the growth in revenues and profits. Further, the company has sought approval for payment of remuneration in excess of 5% of profits, but without a cap on the absolute remuneration: with this, the company can reward the managing director disproportionately. The resolution terms are open ended: there is neither cap on the absolute amount of commission payable to him, nor has the company disclosed performance metrics used to determine his variable pay.
    • HDFC Mutual FundThe proposed remuneration is high
    • Nippon India Mutual FundNo absolute cap on remuneration
    4 for3 against
  • Re-appointment of Mr. Ashok Kumar Ladha (DIN 00089360) as an Independent Director of the Company for a second term of five (5) consecutive years
    7 for0 against
  • Re-appointment of Mr. Murali Krishna Chevuturi (DIN 01770851) as an Independent Director of the Company for a second term of five (5) consecutive years
    7 for0 against
  • Re-appointment of Mrs. Taruna Singhi (DIN 00635973) as an Independent Director of the Company for a second term of five (5) consecutive years
    7 for0 against
  • Re-appointment of Mr. Prashant Jain (DIN 00769291) as an Independent Director of the Company for a second term of five (5) consecutive years
    7 for0 against
  • To approve the payment of commission to the Non-Executive Directors and/or Independent Directors
    7 for0 against

Mutual fund votes, meeting of 24 Jul 2020, 6 fund houses

  • To receive, consider and adopt the Audited Standalone Financial Statement of the Company for the financial year ended March 31, 2020, along with the report of the Board of Director’s and Auditor’s thereon.MoreLess
    3 for0 against

    3 abstained

  • To appoint a Director in place of Mr. Vineet Agarwal DIN-00380300, who retires by rotation and being eligible, offers himself for reappointment.
    4 for0 against

    2 abstained

  • ORDINARY - To re-appoint Ms. R.S. Agarwala Co., Chartered Accountants, ICAI Firm Registration No. 304045E, as the Statutory Auditors of the Company for a second term of five 5 years.
    Against Bank of India Mutual Fund
    • Bank of India Mutual FundR. S. Agarwala & Co. Were appointed as the statutory auditors in the AGM of FY15 for five years. TCI Express proposes to reappoint them for a period of five years and fix their remuneration at Rs. 1. 0 mn for FY21 (excluding GST, travelling and out of pocket expenses). The proposed remuneration is commensurate with the size of the company. Notwithstanding, they were the auditors of Transport Corporation of India, from which TCI Express Limited was demerged in 2016, for 19 years. Therefore, R. S. Agarwala & Co. Have been associated with the company for an overall tenure of ~22 years. Given the extended association of the auditor with the company, we believe the reappointment is not in keeping with the spirit of Section 139 of the Companies Act, 2013, which expects auditors to be rotated every 10 years.
    2 for1 against

    3 abstained

Mutual fund votes, meeting of 30 Jul 2019, 2 fund houses

  • TO RECEIVE, CONSIDER AND ADOPT THE AUDITED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FINANCIAL YEAR ENDED MARCH 31, 2019 AND THE REPORT OF THE BOARD OF DIRECTORS AND AUDITORS THEREON
    1 for0 against

    1 abstained

  • TO DECLARE A FINAL DIVIDEND ON EQUITY SHARES @ 30% (RE. 0.60 PER EQUITY SHARE OF RS.2.00 EACH) FOR THE FINANCIAL YEAR ENDED MARCH 31, 2019
    2 for0 against
  • TO APPOINT A DIRECTOR IN PLACE OF MR. D.P AGARWAL (DIN:00084105) WHO RETIRES BY ROTATION AND BEING ELIGIBLE, OFFER HIMSELF FOR RE-APPPOINTMENT
    2 for0 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 penaltyJudicial Magistrate 1st Class, at Shindewadi, Dadar MumbaiSince 27 May 2026

    Non-Compliance of License

    The Company received a notice regarding non-production of a Trade Licence under Section 394(1)(e)(i) of the Mumbai Municipal Corporation Act in respect of its premise situated in Mumbai. The Company duly appeared before the Court of the Chief Judicial Magistrate,complied with the applicable legal requirements, and the matter was resolved upon payment of a nominal fine of ₹10,000.MoreLess
  • Fine or penaltyJila Panchayat, Kashipur, UttarakhandSince 3 Jun 2026

    Non-Compliance of Local tax

    The Company's Uttarakhand branch ( Kashipur), received a notice dated 03.06.2026 from the Panchayat Samiti, pending before the Zila Panchayat Court. The notice pertained to the deposit of local tax under the Uttarakhand Panchayat Act, which remained unpaid for the period 2020–2026. The applicable local tax was ₹1,500 per annum. The Company promptly appeared before the Hon'ble Court, complied with the applicable legal requirements, and paid the penalty of ₹17,955 on 11.06.2026, thereby resolving the matter.MoreLess
  • Tax disputeOffice of the Commissioner (Appeals) of Central Goods and Service Tax, Gurugram CommissionerateSince 23 Dec 2024
    The Company has filed an appeal before the appropriate GST Appellate Tribunal against the said order on June 29, 2026.
    At the filing before: A demand order has been issued under Section 74(1) of the Central Goods and Services Tax Act, 2017 ("CGST Act") for the period from FY 2017-18 to FY 2021-22, aggregating to Rs 51,36,02,450 (along with applicable interest and penalty). The said demand primarily arises due to differences in interpretation of certain provisions of the CGST Act and the underlying transactions. The Company has contested the aforesaid demand and accordingly filed an appeal, where the Office of the Commissioner (Appeals), Central Goods and Services Tax, Gurugram Commissionerate, rejected our appeal vide its order dated January 14, 2026, and held that the Order-in-Original continues to remain in force.MoreLess

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

At most 1 complaint open, quarter to Dec 2025.
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
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.