Honda India Power Products addresses proxy advisor recommendations

Honda India Power Products Limited (HIPP) has clarified its position on several resolutions ahead of its Annual General Meeting, addressing recommendations from SES Proxy Advisory Services. For Resolution No. 3, HIPP asserts that its combined leadership structure promotes cohesive decision-making with robust checks and balances, supported by independent board members and transparent reporting mechanisms, preventing undue concentration of authority.

Regarding Resolution No. 5, HIPP stated there is no material change in the scope of secretarial audit responsibilities affecting governance. The proposed fee of INR 1 lakh is consistent with previous auditor payments and considered nominal. The company acknowledges the feedback and intends to provide more comprehensive disclosures in the future.

For Resolution No. 8, HIPP clarified that the proposed limit for related party transactions (RPTs) for FY 2026-27 includes a prudent buffer for operational needs and contingencies and does not indicate a significant shift in transaction volume or scope. All RPTs will continue to undergo scrutiny, disclosure, and approval as per LODR requirements.