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InGovern Research, a voting advisory firm, has red-flagged governance concerns at TD Power Systems, an electrical equipment maker, ahead of its annual general meeting (AGM) to be held on Wednesday.
InGovern has recommended shareholders seek more explanation from the Bengaluru-based company over the ongoing ownership dispute between the promoter group and Vijay Kirloskar, who set up the company in 1999.
Last month, the Karnataka High Court (HC) restrained the chairman of TD Power System and several others from transferring shares of the company following a petition filed by Kirloskar.
Kirloskar, who is chairman of Kirloskar Electric Company, claims ownership of 25.1 million shares,
