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Will Mallya Chair USL AGM?

Published on Mon, Nov 23,2015 | 23:33, Updated at Mon, Nov 23 at 23:33Source : 

Dr. Mallya is a member of Nomination and Remuneration Committee (NRC), and USL  on one hand is wanting to remove Dr. Mallya as Board Chairman on the other hand he being member of NRC continues to hold say on appointment of Directors on the Board. Unless the Company wants to state that his presence on NRC is not material which speaks a volume about the constitution/intent on the constitution of the committee, SES is recommending FOR to the appointment of the Directors as there is no concern associated with their appointment, however SES is raising concern due to presence of Dr. Mallya as the member of NRC.

For more on SES’ concerns regarding Mr. Mallya’s position on the USL Board please read this attached report.

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 : United Spirits Ltd_SES Proxy Advisory Report_AGM_24 November 2015 Final.pdf

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