United Spirits CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 20 Dec 2025, 34 fund houses

• Appointment of Mr. Narayan K. Seshadri (DIN: 00053563) as an Independent Director of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PGIM India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance Concern: Excessive time commitments.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No governance concern identified. Governance Concern: Excessive time commitments.
  • PGIM India Mutual FundCompliant with law. Governance Concern: Excessive time commitments.
  • PPFAS Mutual FundExcessive time commitments

  26 for8 against

Mutual fund votes, meeting of 29 Aug 2025, 34 fund houses

• To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the financial year ended 31st March 2025, and the reports of Board of Directors and Auditors thereon.

  34 for0 against
• To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March 2025, and the reports of Board of Directors and Auditors thereon.

  34 for0 against
• To declare a final dividend of ₹8 per equity share for the financial year ended 31st March 2025.

  34 for0 against
• To appoint a director in place of Mr. Mark Dominic Sandys (DIN: 09543864) who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Franklin Templeton Mutual Fund, HSBC Mutual Fund

  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because Mark Dominic Sandys has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation.
  • HSBC Mutual FundA vote AGAINST the following nominee is warranted because:• Mark Dominic Sandys has failed to attend at least 75 percent of board meetings in the most recent fiscal year, without a satisfactory explanation.

  32 for2 against
• Remuneration payable to M/s. Rao, Murthy & Associates, Cost Auditor of the Company for the financial year ending 31st March 2026.

  34 for0 against
• Appointment of M/s. Makarand M. Joshi & Co., as Secretarial Auditor of the Company.

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

  • Angel One Mutual FundTransparency Concern: Previous auditors’ remuneration not available; it cannot be ascertained as to whether there is any material change in the proposed Audit fee.
  • Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: Previous auditors’ remuneration not available; it cannot be ascertained as to whether there is any material change in the proposed Audit fee.

  29 for5 against
• Approval of remuneration payable to Mr. Pradeep Jain (DIN: 02110401), Executive Director and Chief Financial Officer of the Company for a period of two years.

  34 for0 against
• Approval of Material Related Party Transactions.

  34 for0 against

Mutual fund votes, meeting of 20 Jun 2025, 35 fund houses

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

• Appointment of Mr. Praveen Someshwar (DIN: 01802656) as a Director of the Company.

  29 for0 against
• Appointment of Mr. Praveen Someshwar (DIN: 01802656) as a Managing Director and Chief Executive Officer of the Company and approval of remuneration payable to him for a period of five years.

  29 for0 against

Mutual fund votes, meeting of 18 Dec 2024, 30 fund houses

• Appointment of Ms. Preeti Arora (DIN: 10768374) as a Director (Non-Executive Non-Independent Director) of the Company.

  30 for0 against

Mutual fund votes, meeting of 31 Jul 2024, 28 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 Statements of the Company for the financial year ended 31st March 2024 and the reports of the Board of Directors and Auditors thereon.

  27 for0 against
• To receive, consider and adopt the Audited Consolidated Financial Statements of the Company for the financial year ended 31st March 2024 and the report of the Auditors thereon.

  27 for0 against
• To appoint a Director in place of Mr. Pradeep Jain (DIN: 02110401) who retires by rotation and being eligible, offers himself for re-appointment.

  27 for0 against
• To declare a final dividend of ₹5/- per equity share for the financial year ended 31st March 2024.

  27 for0 against
• Ratification of remuneration payable to Cost Auditor of the Company for the Financial Year 2024-25.

  27 for0 against
• Payment of commission to Independent Directors and Non-Executive Directors.

  27 for0 against
• Approval of material Related Party Transactions.

  27 for0 against
• Approval of remuneration payable to Ms. Hina Nagarajan (DIN: 00048506), Managing Director and Chief Executive Officer of the Company for a period of two years.

  27 for0 against
• Appointment of Ms. Amrita Gangotra (DIN: 08333492) as an Independent Director of the Company.

  ›Against DSP Mutual Fund, Invesco Mutual Fund, Mirae Asset Mutual Fund, SBI Mutual Fund, Sundaram Mutual Fund

  • DSP Mutual Fund, Sundaram Mutual FundMs. Amrita Gangotra, 58, is the founder and Managing Director of iTyukt Digital Solutions, which provides consultancy and advisory services in 5G, IoT, AI /ML based digital transformation for enterprise. She has also served at Vodafone UK as a Head of Enterprise Technology and Vodafone Hungary as the Director Technology. She has also worked with Airtel in multiple senior roles wherein she led technology and innovation. Amrita Gangotra currently serves on the boards of four listed companies and from 1 September 2024 she will serve on the boards of five listed companies (including United Spirits Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as Founder and MD of ITyukt Digital Solutions, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on/ listed companies is not in keeping with the spirit of the regulation.
  • Invesco Mutual FundMs. Amrita Gangotra, 58, is the founder and Managing Director of iTyukt Digital Solutions, which provides consultancy and advisory services in 5G, IoT, AI /ML based digital transformation for enterprise. She has also served at Vodafone UK as a Head of Enterprise Technology and Vodafone Hungary as the Director Technology. She has also worked with Airtel in multiple senior roles wherein she led technology and innovation. Amrita Gangotra currently serves on the boards of four listed companies and from 1 September 2024 she will serve on the boards of five listed companies (including United Spirits Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as Founder and MD of ITyukt Digital Solutions, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on/ listed companies is not in keeping with the spirit of the regulation
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • SBI Mutual FundMs. Amrita Gangotra, 58, is the founder and Managing Director of iTyukt Digital Solutions, which provides consultancy and advisory services in 5G, IoT, AI /ML based digital transformation for enterprise. She has also served at Vodafone UK as a Head of Enterprise Technology and Vodafone Hungary as the Director Technology. She has also worked with Airtel in multiple senior roles wherein she led technology and innovation. Amrita Gangotra currently serves on the boards of four listed companies and from 1 September 2024 she will serve on the boards of five listed companies (including United Spirits Limited). Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors on a maximum of three listed companies. We believe that as Founder and MD of ITyukt Digital Solutions, her responsibilities are equivalent to a whole-time directorship. Therefore, her high number of directorships on/ listed companies is not in keeping with the spirit of the regulation. This is why we do not support the resolution.

  22 for5 against

Mutual fund votes, meeting of 11 Apr 2024, 29 fund houses

• 1) Appoint Dr. Indu Bhushan (DIN: 09302960) as Independent Director for five years from 1 March 2024.

  1 for0 against
• 2) Appoint Mukesh Hari Butani (DIN: 01452839) as Independent Director for five years from 1 March 2024.

  ›Against SBI Mutual Fund

  • SBI Mutual FundMukesh Hari Butani, 59, is Founder and Managing Partner of BMR Legal Advocates, a law firm in India. He is a chartered accountant and lawyer with over three decades of experience. He serves as an independent director on the board of four listed companies. Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as Managing Partner at BMR Legal Advocates, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on four listed companies (including United Spirits Limited) are not in keeping with the spirit of the regulation. Therefore, we do not support his appointment.

  0 for1 against
• Appoint Dr. Indu Bhushan (DIN: 09302960) as Independent Director for five years from 1 March 2024

  4 for0 against
• Appoint Mukesh Hari Butani (DIN: 01452839) as Independent Director for five years from 1 March 2024

  ›Against DSP Mutual Fund, Navi Mutual Fund, Sundaram Mutual Fund

  • DSP Mutual Fund, Navi Mutual Fund, Sundaram Mutual FundMukesh Hari Butani, 59, is Founder and Managing Partner of BMR Legal Advocates, a law firm in India. He is a chartered accountant and lawyer with over three decades of experience. He serves as an independent director on the board of four listed companies. Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as Managing Partner at BMR Legal Advocates, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on four listed companies (including United Spirits Limited) are not in keeping with the spirit of the regulation. Therefore, we do not support his appointment.

  1 for3 against
• Appointment of Dr. Indu Bhushan (DIN: 09302960) as an Independent Director of the Company

  1 for0 against
• Appointment of Dr. Indu Bhushan (DIN: 09302960) as an Independent Director of the Company for a period of five years, effective from 1st March, 2024 to 28th February, 2029, and whose office shall not be liable to retire by rotation.MoreLess

  20 for0 against
• Appointment of Mr. Mukesh Hari Butani (DIN: 01452839) as an Independent Director of the Company

  1 for0 against
• Appointment of Mr. Mukesh Hari Butani (DIN: 01452839) as an Independent Director of the Company for a period of five years, effective from 1st March, 2024 to 28th February, 2029, and whose office shall not be liable to retire by rotation.MoreLess

  ›Against Invesco Mutual Fund

  • Invesco Mutual FundMukesh Hari Butani, 59, is Founder and Managing Partner of BMR Legal Advocates, a law firm in India. He is a chartered accountant and lawyer with over three decades of experience. He serves as an independent director on the board of four listed companies. Given their full-time responsibilities, regulations allow whole-time directors of listed companies to be independent directors in a maximum of three listed companies. Further, we believe that, as Managing Partner at BMR Legal Advocates, his responsibilities are equivalent to a whole-time directorship. Therefore, his high number of directorships on four listed companies (including United Spirits Limited) are not in keeping with the spirit of the regulation. Therefore, we do not support his appointment

  19 for1 against
• Elect Indu Bhushan as Director

  2 for0 against
• Elect Mukesh Hari Butani as Director

  2 for0 against
• To approve, Appointment of Dr. Indu Bhushan (DIN: 09302960) as an Independent Director of the Company.

  1 for0 against
• To approve, Appointment of Mr. Mukesh Hari Butani (DIN: 01452839) as an Independent Director of the Company.

  ›Against Edelweiss Mutual Fund

  • Edelweiss Mutual FundNo relevant experience

  0 for1 against