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PE firm TPG Capital asks Puneet Bhatia to honour shareholders' verdict

According to sources, TPG, which has investments in several firms domestically as well as globally, doesn't want to be at odds with voting advisory firms and shareholders over any governance issues

Why, how, and to what extent AI could enter the decision-making boardroom?
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Earlier this month, the resolution to re-appoint Bhatia on Shriram Transport’s board was defeated by shareholders with an overall 57 per cent ‘against’ vote

Samie Modak Mumbai
In yet another twist to the Shriram Transport saga, US-based private equity TPG Capital has told its India head Puneet Bhatia to honour shareholders’ verdict by not joining the board of the vehicle finance company.

According to sources, TPG, which has investments in several firms domestically as well as globally, doesn’t want to be at odds with voting advisory firms and shareholders over any governance issues.

“Officials at TGP’s headquarters in the US have taken cognisance of the issue and have advised Bhatia not to join the Shriram board. Being a minority shareholder in many listed firms, the private equity major doesn’t

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First Published: Aug 31 2020 | 11:06 PM IST

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