(A-) (A) (A+)

Proxy Advisory Guidelines

  • SES' Proxy Advisory (PA) Services are primarily aimed to facilitate meaningful shareholder engagement at general body meetings of listed Companies. Through its PA reports, SES offers voting recommendations and detailed analysis for resolutions proposed in the general meetings, thereby equipping shareholders to engage in meaningful discussion with the Company on key strategic and governance issues.
  • Although our voting recommendations are made on a case by case basis, to ensure that they are consistent, fair, transparent, Independent, and free from any conflict, SES has developed a Proxy Advisory Policy containing the general principles and guidelines to be considered while analysing resolutions that are put to vote at the shareholders’ meetings. SES may, however, deviate from the policy based on various factors that arise while analysing a Company and its governance practices. The reasons for such deviation will be well explained in the PA Reports.
  • In our Policy, we have ensured that compliance with all applicable (and relevant) laws/regulations are considered while making voting recommendations. SES takes non-compliance with any law (including but not limited to the (SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 ('Listing Regulations'), the Companies Act, 2013 ('the Act') or any other applicable legislation, very seriously and considers it to be an indicator of poor Corporate Governance. Accordingly, our recommendations for Companies that are non-compliant in any manner, will reflect such concerns.
  • SES is of the opinion that in addition to compliance with the law in letter, Companies should imbibe good Corporate Governance in spirit. We have researched Corporate Governance guidelines and regulations in various jurisdictions around the world, analysed their relevance in the Indian markets and developed a set of principles that guide our Proxy Advisory mechanism. Our guidelines adequately address issues such as board structure and performance, Directors’ Independence, auditor’s responsibility and accountability, executive remuneration, related party transactions and other governance issues.
  • With effect from 1 st January, 2021, SES has decided to post material changes to its Proxy Advisory Guidelines on its website. An Intimation of any change along with the relevant webpage link would be shared with all the SES Clients and the Companies under SES Coverage.
Date Proxy Advisory Document Description Weblink
FY 2026-2027
15th May, 2026 Proxy Advisory Master Guidelines Proxy Advisory Guidelines for 2026-27 Click Here
15th May, 2026 Proxy Advisory Guidelines - Summary Summary of Key Updates in Proxy Advisory Guidelines for 2026-27 Click Here