The Dani family, one of the promoters of India’s largest paint firm — Asian Paints — has come under fire from proxy advisory firm InGovern after the latter pointed out several related party transactions between Asian Paints and Paladin Paints & Chemicals, a private company owned by the Danis. “A lack of detailed disclosure and intent of procuring such a high percentage from companies, including Paladin — that are owned by promoters of Asian Paints — is strange.
For example, in 2019-20, Asian Paints procured over 5.8 per cent of its raw material from ...
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