Page 11 - Raymond

Would vote against JK House sale plan: Raymond's Gautam Singhania

Interest of shareholders and company paramount, Raymond chief says

Using corporate governance to settle personal scores?

Raymond offered the flats in JK House Gautam Singhania at throwaway prices of Rs 9,200 a sq ft

IiAS' report on J K house sale based on 'incorrect' information: Raymond

Raymond today said proxy advisory firm IiAS' report on the move to sell its premium property 'JK House' in Mumbai to its promoters and their extended family is based on incorrect and incomplete information, and not understood in correct manner. Yesterday, IiAS in a report claimed sale of JK House to Raymond's promoters and their extended family will result in loss of over Rs 650 crore for the company and its shareholders. Following the IiAS warning, Raymond stock came under huge selling pressure, plunging nearly 10 per cent in early trading session yesterday. The stock later recovered the losses. Raymond Chairman & Managing Director Gautam Hari Singhania said, the company is committed to protect interest of all its shareholders and is taking all appropriate steps, including legal measures, towards this objective. "As also mentioned in the notice, the company will raise all defences in the legal proceedings that have been initiated and will undertake all steps to protect and ...

Raymond stares at Rs 650-cr loss as Singhanias fight over JK House

Proxy firm slams move as a 'rip-off'; company says committed to protecting interests of shareholders

IiAS slams Raymond's bid to sell JK House to promoters at throwaway price

Proxy firm Institutional Investor Advisory Services (IiAS) has slammed textile major Raymond for its move to sell valuable real estate to pr omoters. Estimating the move will cost over Rs 650,crore in opportunity lost, IiAS has asked shareholders to vote against a resolution that is coming up for vote on June 5.In its forthcoming AGM on 5 June 2017, Raymond Limited has presented a resolution to make an offer to sell its premium real estate at throw-away rates to its promoters and their extended family. Resolution 10 of the AGM said : " "RESOLVED THAT in compliance with and subject tothe provisions of Section 188 and other applicableprovisions of the Companies Act, 2013 and theRules framed thereunder (including any statutorymodification(s) or re-enactment thereof for thetime being in force) and the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015 asmay be applicable from time-to-time, and subjectto Memorandum of Association and Articles ofAssociations of the ..

Raymond comes under minority shareholder's fire

Vishal Patel accuses company's promoters of siphoning off funds for personal use

Our focus is to capture the 'full wallet' of our customers: Raymond

Interview with Gautam Hari Singhania, CMD, Raymond Group

Raymond sees 30% fall in demand post demonetisation

CEO Sanjay Behl said textile sector is still largely unorganised and GST will help formalise the system

Raymond collaborates with UP Skill Development Mission

The company has forged similar tie-ups in skill development with other state governments as well

Raymond eyes Rs 100 cr revenues from Technosmart fabric

The polywool fabric has features like UV protection, wrinkle resistance and smooth touch, ideal for crafting trousers, suits and jackets

Raymond expects apparel, fabric business to grow in five years

The company plans to expand it's retail presence with more stores, renovates existing outlets

Raymond to strengthen brand presence in Middle East

Company is also supplying fabrics to leading garments manufacturers in the US, Europe and Japan

Raymond surges on robust Q4 earnings

Net profit for the fourth quarter jumped 161% to Rs 56.2 crore compared to same quarter last fiscal

Raymond to open skill development centres in UP

The fabrics maker had signed a MoU with UPSDM functioning under the state vocational education and skill development dept.