What's all this fuss about global proxy advisory firms in India?

In India, a debate started last week when Deepak Parekh, who built the HDFC Group, barely managed to get a majority vote in a resolution seeking his continuation as director in the HDFC Ltd.

By Anand Adhikari  
Thursday, August 9, 2018

There is suddenly a clamour for regulating the international proxy advisers firms in India, which advise investors, especially foreign institutional investors, to vote for or against a particular resolution of a corporate. Since Indian corporates have large foreign institutional holdings, there is a fear that global proxy advisory firms would play a big role in tilting the votes. In India, a debate started last week when Deepak Parekh, who built the HDFC Group, barely managed to get a majority vote in a resolution seeking his continuation as director in the HDFC Ltd. Globally, these firms have wider acceptability. Then, why is there this fuss in India about these firms?

Related Stories

Pulwama attack: 450 trucks parked at Wagah border as India snaps trade with Pakistan
Pulwama attack: 450 trucks parked at Wagah border as India snaps trade with Pakistan
Donald Trump goofs up, again? Wants 6G network when 5G still to be in place
Donald Trump goofs up, again? Wants 6G network when 5G still to be in place
Pulwama attack: Security tightened across Mumbai railway stations over terror threat inputs
Pulwama attack: Security tightened across Mumbai railway stations over terror threat inputs

Latest Stories

Pulwama attack: 450 trucks parked at Wagah border as India snaps trade with Pakistan
Pulwama attack: 450 trucks parked at Wagah border as India snaps trade with Pakistan
Monetary Policy Committee minutes indicate beginning of a rate cut cycle: Analysts
Monetary Policy Committee minutes indicate beginning of a rate cut cycle: Analysts
Chanda Kochhar's fall from grace-here is how she was caught, step by step
Chanda Kochhar's fall from grace-here is how she was caught, step by step
SPONSORED