 "Hyundai")
As seven key related-party transactions (RPTs) of Hyundai Motor India (HMIL), aggregating up to ₹31,526 crore, come up for shareholder approval in March, proxy advisory firms appear divided in their opinion.
Stakeholders Empowerment Services (SES) has voted against six of the proposed RPT resolutions while Institutional Investor Advisory Services (IiAS) voted in favour of all the seven RPT resolutions.
SES said that its research shows that proper scrutiny has not been done nor proper disclosures made to enable shareholders to take an informed decision.
It added that while analysing the proposed RPT resolutions, SES found the resolutions’ proposed amount was
