Proportion of mutual fund votes against resolutions is at a multi-year low

Some say companies more willing to discuss resolutions with shareholders before they are brought to vote

Swraj Paul’s sweeping moves to snap up shares in Indian companies and ‘clean them up’ in the 1980s were some of the rare occasions where promoters had reason to fear their shareholders in India.
 
However, more than three decades later, the scenario is quite different.
 
Now, large institutional players are less likely to rock a company’s boat single-handedly.
 
The introduction of disclosures on how mutual funds (MFs) voted as well as entry of proxy advisory firms, who could advise them on resolutions, were expected to help bring together opposition against unscrupulous promoters and resolutions that might not