Shareholder activism at Alembic Pharma: Issue unlikely to die in a hurry

Alembic's board rejected the request by Unifi Capital to appoint Murali Rajagopalachari as director

Alembic’s board on Friday rejected the request by Unifi Capital to appoint Murali Rajagopalachari as a director for small shareholders but experts said it might write to the Securities and Exchange Board of India (Sebi) on the issue. 

Some experts said the group of small shareholders might move the National Company Law Tribunal (NCLT) as a last resort. 

Unifi Capital said it was studying its options in response to Alembic's decision to reject its proposal. 

Sarath Reddy, managing director, Unifi Capital, said, "We spent nearly a year in discussions with the company and offered specific suggestions with supporting rationale. They