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This is a Blue Whale game played by Narayana Murthy for Sikka: J N Gupta, MD, SES    |    SES accuses 10 listed firms of violating auditor hiring norms    |    SEBI struggles to find Sahara investors    |    Prakash Industries issued different AGM notices    |    Past connection between Tata Steel director and auditor irks proxy firm (SES)    |   

News & Events View More

  • SES accuses 10 listed firms of violating auditor hiring norms

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  • This is Narayana Murthy's 'Blue Whale challenge' for Vishal Sikka: Corporate governance experts

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  • SEBI struggles to find Sahara investors

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  • Prakash Industries issued different AGM notices

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  • Sebi crackdown on trading in 331 shell companies blocks investors' Rs 9,000 cr

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  • Past connection between Tata Steel director and auditor irks proxy firm

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Latest Research Reports View More

Abusive, non-transparent Related party transaction


SES is raising governance concern on agreement executed between the company and promoters which offers to sell the property at JK house to promoter at price decided by the Company in 2007

Towards improved Corporate Governance practices


On the backdrop of various corporate governance issues raised recently in India Inc., SES has communicated with various listed companies & shared key issues which had been observed by SES.

Infosys - Smoke Without Fire?

SES does not find any serious issues in governance of Infosys, which should attract attention and cause unnecessary damage to reputation. It appears to be a case of smoke without any fire.

Reality Check on Investors Loss

Market Capitalisation of Tata Group Companies have taken a beating post October 24, 2016, the day Mr. Mistry was removed as Chairperson of Tata Sons Ltd, the holding company of Tata Group. SES in this report has analysed price behaviour of all the listed companies of Tata group.

Latest Proxy Advisory Reports

Name Date Type
Asian Paints 14-09-2017 CCM
Alkem Lab 08-09-2017 AGM
Wim Plast 08-09-2017 AGM
Vaibhav Global 07-09-2017 AGM
JP Associates 07-09-2017 PB
View SES Recommendation

Pillars of SES


    We do not have any material association with listed firms. Our employees do not hold directorships at listed companies. This helps us maintain our independence and provide unbiased advice to clients. We do not accept assignments that may have a potential conflict with our objectives.

    Conflict Management

    We provide governance advisory services to investors at listed companies. To remove any conflict of interests, we do not have any pecuniary or advisory relationship with listed companies. We have internal controls for interactions with listed firms and maintain a clear audit trail.

    Non for Profit

    SES has adopted a not-for-profit business model to eliminate any perceived compromise with independence and to mitigate any potential conflict of interests. Our business model ensures that we place clients’ interests above our own and treat each client equally.


    Our diverse and independent advisory board guides our policy making process which ensures that our policies are transparent and take opinions of all stakeholders into accounts. We disclose all non-material relationships with listed firms on our website and use only public information for analysis.