Minority shareholders defeat 9 resolutions by 5 firms in last 10 days

Minority shareholders — emboldened by the advice of voting advisory firms — defeated nine resolutions floated by five companies in the last 10 days.

These resolutions pertain to hike in remuneration of key personnel, related-party transactions (RPTs) and re-appointment of directors.

Agro firm KRBL, hotel chain Lemon Tree and Royal Orchids, and poultry products firm Venky’s are among the companies, which have faced shareholder dissent.

Five resolutions placed by KRBL were rejected, including that of increasing remuneration of the managing director (MD) and chairperson, three joint MDs and one whole-time director.

The resolution was rejected as shareholders considered the proposed