Shareholders unhappy with virtual AGM concept, but little choice available

The Ministry of Corporate Affairs (MCA) had clarified earlier this month that it would be allowing the meetings to be conducted online because of Covid-19

Vinod Dadlani, a 67-year-old, has been attending annual general meetings (AGMs) since he first bought shares in Housing Development Finance Corporation (HDFC), more than four decades ago.

He does not remember a dividend in the first HDFC meeting, but recollects shareholders getting Rs 11 worth of coupons for Sahakari Bhandar, a grocery outlet that has everything a middle-class family needs. While critical of the gift culture, he went to various AGMs in the years that followed, seeing it as the only opportunity for ordinary shareholders to ask tough questions to the management. There may be a deviation from the norm this