Several large investors of Religare Enterprises Ltd (REL) have criticized the public interest litigation (PIL) filed by an investor that led the Madhya Pradesh high court to indefinitely stay the company's upcoming annual general meeting (AGM).
The investors disputed the premise of the writ petition filed by the individual named Vijayant Mishra, who argued that a takeover of Religare by the Burman family will concentrate the ownership of the company in the hands of a few, which is against the interests of minority shareholders.
Mint spoke with multiple investors, who collectively control about a tenth of Religare's total share capital.
"This is a mockery of shareholders' rights and shareholders' democracy," said Umeshkumar Mehta, chief investment officer, Samco Mutual Fund.
Denne historien er fra December 30, 2024-utgaven av Mint Bangalore.
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Denne historien er fra December 30, 2024-utgaven av Mint Bangalore.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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States' Q4 borrowing to rise 18% after Q2 growth slump
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Cold wave in North India to boost wheat, mustard crops
The drop in temperature does not bode well for crops like chickpea and potatoes in the plains
Govt cuts gas allocation for LPG, diverts to city retailers
The government has slashed allocation of natural gas used for liquefied petroleum gas (LPG) production, and diverted the low-priced fuel to city gas retailers like Indraprastha Gas Ltd and Adani-Total Gas Ltd to meet part of their requirement for compressed natural gas (CNG)/piped cooking gas supplies, said an official order.
Rupee closes at new record low vs dollar
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Existing EV subsidies to stay, no new incentives
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Pharma Teachers Faking Profiles to Be Blacklisted
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India's market cap share globally dips from record highs
India's share in global market capitalization dipped to 4.2% in December from its August peak of 4.6%, as global equity markets faced turbulence, showed an analysis by Motilal Oswal Financial Services Ltd.
PM E-Drive e-bus subsidy to be rolled out from March
Govt to initiate bidding process after working out demand via state, city transport utilities
PNG, CNG Consumers to Get Uniform Insurance Cover
Although CNG Users Report More Accidents, Instances of Pipeline Leaks at PNG Households Were Reported
Biden to Block Sale of US Steel to Nippon
President Joe Biden has decided to block the sale of United States Steel Corp. to Japan's Nippon Steel Corp., according to three people with knowledge of the matter, ending a $14.1 billion deal that has faced months of vocal opposition and raising questions over the future of a US industrial giant.
