98% board resolutions get nod in CY18 despite rise in shareholders' dissent

Among the prominent ones that were opposed by the institutional shareholders with over 20 per cent votes include re-appointment of Rajiv Bajaj in Bajaj Finance.

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Swati Verma New Delhi
Nearly 98 per cent of proposals put up before the company boards got a green signal in calendar year 2018 (CY18), despite a greater level of institutional investors casting their vote against the decision, suggest a report by Prime Database.

Of 716 resolutions proposed during CY18, 700 (98 per cent) got the approval even as institutional shareholders voted against them, courtesy high promoter holding in the companies, the report says.

“Data-wise, the number of resolutions where more than 20 per cent of institutional shareholders voted against the resolution increased by 14 per cent to 716 in 2018 from 629 in 2017 and 639 in 2016. However, resolutions where over 20 per cent of institutional shareholders cast a negative vote, for

First Published: Feb 14 2019 | 1:31 PM IST

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