Transrail Lighting CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 3 Aug 2026, 1 fund house so far (houses' deadline to file 15 Oct 2026)

• Re-appointment of Mr. Ranjit Raghunath Jatar (DIN: 01526405) as a Non-Executive and Independent Director for second term of 5 (five) years

  ›Against Angel One Mutual Fund

  • Angel One Mutual FundTransparency Concern: Attendance of directors for FY 2025-26 not disclosed.

  0 for1 against
• Re-appointment of Mr. Ashish Gupta (DIN: 07998166) as a Non-Executive and Independent Director for second term of 5 (five) years

  ›Against Angel One Mutual Fund

  • Angel One Mutual FundTransparency Concern: Attendance of directors for FY 2025-26 not disclosed.

  0 for1 against
• Reappointment of Mr. Sanjay Kumar Verma (DIN: 08235643) as a Non- executive and Non-Independent Director of the Company

  ›Against Angel One Mutual Fund

  • Angel One Mutual FundGovernance concern: Skewed remuneration towards promoter director. Transparency Concern: Attendance of directors for FY 2025-26 not disclosed.

  0 for1 against
• Approval for payment of commission to Non-Executive Directors (including Non-Independent and Independent Directors) of the Company

  ›Against Angel One Mutual Fund

  • Angel One Mutual FundGovernance concern: Perpetual approval and higher commission to one Non-Executive Director reduces the commission pool available for equitable distribution among the remaining Non-Executive Directors.

  0 for1 against
• Approval for payment of Commission to Mr. Sanjay Kumar Verma (DIN: 08235643), Non-Executive Director and Vice Chairman for the Financial Year 2025-26

  ›Against Angel One Mutual Fund

  • Angel One Mutual FundGovernance Concern: Remuneration is skewed in favour of Mr. Sanjay Kumar Verma, Non-Executive Director and Vice- Chairman without adequate justification.

  0 for1 against

Mutual fund votes, meeting of 16 Mar 2026, 7 fund houses

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

• Appointment of Mr. Rajeev Kumar Jain (DIN: 07905985) as a Non-Executive and Independent Director of the Company

  6 for0 against
• Change in designation of Dr. Indu Shekhar Jha (DIN 00015615) as a Non-executive and Non-Independent Director of the Company.

  6 for0 against
• To enter into a Contract or Arrangement with Dr. Indu Shekhar Jha as a Non-executive and Non-Independent Director of the Company for payment of monthly consulting fee for the professional consulting services to be rendered by him.MoreLess

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance Concern: The proposed professional fee appears disproportionate when compared with the remuneration paid to KMP roles. Further, the Company has not provided adequate disclosures regarding the basis for determining the proposed fees. In the absence of such information, the fairness of the proposed fee cannot be ascertained.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance Concern: The proposed professional fee appears disproportionate when compared with the remuneration paid to KMP roles. Further, the Company has not provided adequate disclosures regarding the basis for determining the proposed fees. In the absence of such information, the fairness of the proposed fee cannot be ascertained.

  3 for4 against
• Increasing the Borrowing Powers Under Section 180(1)(c) of the Companies Act, 2013 Up to INR 1,50,00,00,00,000/- (Indian Rupees Fifteen Thousand Crores only).

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance & Transparency concern: Majority of the Existing Borrowing Limit is unutilized, and no specific reason/justification provided for the proposed increase when the existing limit is significantly unutilized and as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance & Transparency concern: Majority of the Existing Borrowing Limit is unutilized, and no specific reason/justification provided for the proposed increase when the existing limit is significantly unutilized and as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.

  2 for4 against
• To grant powers to create charges, mortgages and hypothecations on the assets of the Company whether immovable and movable properties under Section 180(1)(a) of the Companies Act, 2013.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance & Transparency concern: Majority of the Existing Borrowing Limit is unutilized, and no specific reason/justification provided for the proposed increase when the existing limit is significantly unutilized and as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Governance & Transparency concern: Majority of the Existing Borrowing Limit is unutilized, and no specific reason/justification provided for the proposed increase when the existing limit is significantly unutilized and as to how will the Company sustain the increased borrowing limits which is higher than the asset size and net worth of the Company.

  2 for4 against

Mutual fund votes, meeting of 23 Sep 2025, 9 fund houses

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

• a)the Audited Standalone Financial Statements of the Company for the financial year ended 31st March, 2025, together with the reports of the Board of Directors and the Auditors thereon; and b)the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March, 2025, together with the reports of the Board of Directors and the Auditors thereon.MoreLess

  8 for0 against
• To declare Final dividend on Equity Shares @ 40% i.e. Re. 0.80/- (Eighty Paise) per Equity Share having face value of Rs.2/- each of the Company for the financial year ended 31st March, 2025.

  8 for0 against
• To appoint a Director in place of Mr. Srikant Chaturvedi (DIN: 00651133), who retires by rotation in terms of Section 152(6) of the Companies Act, 2013 and being eligible, offers himself for re-appointment.MoreLess

  9 for0 against
• To ratify the remuneration payable to the Cost Auditor for FY 2025-26

  8 for0 against
• To appoint M/s. Mitesh Shah & Co., Practicing Company Secretaries, Mumbai (Firm Registration Number P2025MH104700) as Secretarial Auditors and fix their remuneration.

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual Fund, LIC Mutual FundTransparency Concern: The Company has not disclosed the Audit Fee paid to Outgoing Secretarial Auditor to ascertain any material change in the proposed audit fee.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundCompliant with law. Transparency Concern: The Company has not disclosed the Audit Fee paid to Outgoing Secretarial Auditor to ascertain any material change in the proposed audit fee.

  3 for5 against
• Re-appointment of Mr. Randeep Narang (DIN: 07269818) as Managing Director and Chief Executive Officer of the Company and fix his remuneration

  ›Against Mirae Asset Mutual Fund, Taurus Mutual Fund

  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Taurus Mutual FundRandeep Narang, 63, is the Managing Director and CEO of the company since December 2020. He was paid Rs. 41.8 million in FY25, including fair value of stock options. As per the notice, he is entitled to receive Rs. 45.1 mn in FY25 (including Rs. 33.8 mn as fixed pay and Rs. 11.3 mn as variable pay). However, there is no guidance on the number of stock options to be granted to him over his remaining tenure. In the absence of this, we are unable to estimate Randeep Narang's proposed remuneration. The company should disclose the quantum of stock options that he is eligible to receive over the remainder of his tenure and cap his remuneration in absolute terms. The company must also disclose the performance metrics that determine variable pay. While we support his reappointment as MD and CEO, due to the lack of adequate disclosures on the remuneration structure, we do not support the resolution.

  7 for2 against
• Appointment of Mr. Raman Rajagopalan (DIN: 11210732) as a Director and Whole-time Director of the Company designated as “Dy. Managing Director” and fix his remuneration

  8 for0 against
• Appointment of Mr. Dhulipala Suryanarayana (DIN: 07304786) as a Director and Whole-time Director of the Company and fix his remuneration

  9 for0 against
• Appointment of Dr. Dharmendra Singh Gangwar IAS (Retd.) (DIN: 08299862) as an Independent Director of the Company.

  9 for0 against
• Alteration of Articles of Association of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund

  • Angel One Mutual FundGovernance Concern: Clause of holding position of Chairperson and Executive / Managing Director / Chief Executive Officer by the same person. Articles of Association allows appointment of alternate director. Articles of Association includes provisions which might undermine the role of Nomination and Remuneration Committee.
  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual FundNon-Compliance: Clause allows board composition of less than six directors. Governance Concern: Clause of holding position of Chairperson and Executive / Managing Director / CEO by the same person. AoA allows appointment of alternate director. AoA includes provisions which might undermine the role of NRC.
  • LIC Mutual FundGovernance Concern: Clause of holding position of Chairperson and Executive / Managing Director / CEO by the same person. AoA allows appointment of alternate director. AoA includes provisions which might undermine the role of NRC.

  4 for5 against
• To ratify the Transrail Lighting Employee Stock Option Plan 2023

  ›Against Mirae Asset Mutual Fund

  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)

  7 for1 against

Mutual fund votes, meeting of 9 Aug 2025, 9 fund houses

• Approval for the appointment of Dr. Indu Shekhar Jha (DIN: 00015615) as an Independent Director of the Company for a period of 3(three) consecutive years i.e. from 9th June, 2025 to 8th June, 2028(both days inclusive)MoreLess

  9 for0 against

Mutual fund votes, meeting of 25 Feb 2025, 6 fund houses

• Increase in remuneration of Mr. Randeep Narang (DIN: 07269818), Managing Director and Chief Executive Officer of the Company

  ›Against Taurus Mutual Fund

  • Taurus Mutual FundRandeep Narang, 62, is the Managing Director and CEO of the company. He was appointed on the board as CEO & Managing Director w.e.f. 15 December 2020. Randeep Narang was paid Rs. 45.1 million in FY24, including fair value of 40,000 stock options granted to him in FY24. As per the notice, he is entitled to receive Rs. 41.6 mn in FY25. However, there is no guidance on the number of stock options to be granted to him over his remaining tenure. In the absence of this, we are unable to estimate Randeep Narang's proposed remuneration. The company should disclose the quantum of stock options that he is eligible to receive over the remainder of his tenure and cap his remuneration in absolute terms. While we support his reappointment as MD and CEO, due to the lack of adequate disclosures on the remuneration structure, we do not support the resolution.

  5 for1 against