From buyback to criticism of A M Naik: Many firsts at L&T's 73rd AGM

The meeting also saw the presence of Ole Toubro, son of the founding partner Soren Kristian Toubro

Engineering conglomerate Larsen & Toubro's (L&T's) annual general meeting (AGM) held in Mumbai on Thursday had many firsts, including the announcement of its first buyback, its first meeting post A M Naik stepping down from an executive role, and perhaps the first time a shareholder questioned Naik's long presence on the board.   

The general mood at the AGM was predictable with most shareholders supporting L&T's resolutions, which included Naik's reappointment as director, continuation as non-executive director and compensation. The meeting included a shareholder suggestion to run a monorail named Naik monorail.