Greedy Souls

This refers to J N Singhis letter ( March 4). I beg to disagree with his views. He argues that since it is the shareholders money, gifts are allright. But in practice, only a meagre percentage of the total shareholders attend and demand gifts. What about the majority of them who cannot attend the meetings and do not stay in the same town?

If those attending the meetings are entitled for a gifts, why dont they advocate sending gift vouchers for the remaining ones?

Moreover, distribution of gifts, which started as a token gesture in general body meetings, assumed the proportion of a right from the shareholders side. This has now turned into systematic, seasonal looting.

In Delhi (may be in most other place as well), one has to see to believe the levels to which a fraction of shareholders stoop for gifts, creating chaos, hooting, gheraoing the management, threatening to disrupt the meeting and so on.

It is not uncommon for some to even go for splitting of shares and collecting proxies to get more and more gifts.

The proposal of the working group prohibiting giving gifts is therefore most welcome at this stage.