IIAS Says No to Adani Charity
Published on Wed, Aug 08,2012 | 19:07, Updated at Wed, Aug 08 at 20:26Source : Moneycontrol.com
In this report proxy advisory firm IIAS recommends shareholders vote against the resolution regarding charitable donations.
'At a maximum proposed limit of Rs.300 mn, the company will contribute 8.3% and 7.7% of its FY12 net profits and net cash accruals respectively to charitable and other funds. We believe this is a significantly high amount.'
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