Zee founders may have diverted significant funds

Problems seem to be getting further compounded at the Zee group. A month back only, it’s long awaited mega merger with the Sony group was called off (after 2 years of negotiations). During this period, there were many actions taken by the regulators; especially related to the corporate governance. These actions in fact are speculated … Read more

Proxy advisory urges Raymonds independent directors to probe assault allegations

Gautam Singhania, the CMD had publicly announced his separation from his wife Nawaz Modi on November 13. In the aftermath, Nawaz Modi, also a board member, had alleged that she and her daughter were physically assaulted by Singhania in September 2023. On November 28, 2023, Institutional Investor Advisory Services (IIAS), an Indian proxy advisory firm, … Read more

Corporate family feuds and the critical role of independent directors

Indian capital markets have greatly evolved during the last two decades and have emerged on the world stage. To quote a few examples, there are over 6,800 listed companies with a combined market capitalisation exceeding $2.6 trillion, according to a World Bank report. Add to this more than a hundred unicorns and private enterprises seeking … Read more

Investor advisory firm recommends voting against key Paytm resolutions

One 97 Communications, the parent Company of Paytm is scheduled to hold it’s AGM on August 19, 2022. Ahead of the meeting, Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has advised shareholders of One 97 to vote against some key proposed resolutions. Reappointment of Vijay Shekhar Sharma (VSS) as the MD – … Read more

Raymond makes an important hiring

As was promised in November 2021, Raymond has taken an important step towards professionalising the management. It has appointed Atul Singh, former head of Coca-Cola India, as the Executive Vice Chairman. Atul worked with Coca-Cola for about two decades at several leadership positions and was last with them as Chairman, Asia Pacific. Prior to joining Coca-Cola, … Read more

Shareholders reject Britannia’s investment, loan & guarantee plan. Super !

Indian corporates in general consider shareholders approvals to be a mere formality. With their direct and indirect control over the ownership and the consequent control over the voting, many try to get away with questionable resolutions suiting promoters’ own interests. However, with increasing shareholders’ awareness and activism, it’s becoming increasingly difficult for many of them. … Read more

SEBI fines IIFL Securities for violation of norms related to the client funds

Brokerage businesses handle significant client money and hence are supposed to be managed with extreme discipline. Regulations are well laid out in that regard. However, time and again we come across cases that raise doubt on this underlying presumption. Today, SEBI passed an adjudication order against IIFL Securities Limited (IIFL) for some serious violations – … Read more