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Proxy Advisory Report: Amara Raja Batteries

Published on Fri, Sep 19,2014 | 14:56, Updated at Fri, Sep 19 at 14:56Source : 

Industrial & automotive battery maker Amara Raja Batteries is seeking shareholder approval for a Rs 40.3 crore related-party transaction. Amara Raja is seeking approval through a postal ballot, for entering into a lease agreement with Amara Raja Infra Pvt Ltd, a company owned by the same management.

In their analysis, Proxy advisory firm SES is of the opinion that promoters of Amara Raja are using their dominant position & therefore they recommend shareholders to vote AGAINST the resolution. For more, read the attached report by SES.

Disclaimer: The information/opinions expressed in this report/newsletter are those of the author. This website has not verified the accuracy of the claims made in the report/newsletter, nor does it agree or disagree with, or endorse any information/opinions contained therein.

Attachments : Amara Raja Batt._SES Proxy Advisory Report_PB_19 September 2014.pdf

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