I was today years old when I found out that Rajat Sharma is a Director on Patanjali’s Ruchi Soya’s Board. 🤷🏼♀️ 
The concerns of independent directors not being truly independent, especially in promoter-dominated companies continue. While such directors meet the regulatory requirements on paper, their independence in conduct & decisions is often under the cloud - Ajay Tyagi, Chairman, Sebi
I think some of you are misunderstanding this. So..
Technically an Independent Director doesn’t have a pecuniary relationship with the company.
But the next time you hear him singing praises of Patanjali just remember he isn’t an unrelated Journalist but someone whose
Technically an Independent Director doesn’t have a pecuniary relationship with the company.
But the next time you hear him singing praises of Patanjali just remember he isn’t an unrelated Journalist but someone whose
Duty it is, by law to “assist in protecting the legitimate interests of the company, shareholders and its employees.”
Still waiting for DumBhakts to come tell me how as an independent director he’s actually ensuring Balkrishna doesn’t commit any frauds. 😄
The more I read, the more interesting it becomes. 😆
Mincing no words, Tyagi said, some independent directors are appointed at the mercy of promoters "(with) no prescribed qualifications or procedures, favouritism, (many are from) closed clubs (such as) only those people being
Mincing no words, Tyagi said, some independent directors are appointed at the mercy of promoters "(with) no prescribed qualifications or procedures, favouritism, (many are from) closed clubs (such as) only those people being
in all boards, no commitment to any cause.”
There are people appointing friends just to “fulfil the requirement of Companies Act (and) Sebi's listing regulations is not at all working... One needs to really think through these", he added.
economictimes.indiatimes.com/markets/stocks…
There are people appointing friends just to “fulfil the requirement of Companies Act (and) Sebi's listing regulations is not at all working... One needs to really think through these", he added.
economictimes.indiatimes.com/markets/stocks…
This just keeps getting funnier 😆
Independent director, means a director other than a managing director or a whole-time director or a nominee director,-
who, in the opinion of the Board, is a person of INTEGRITY and possesses relevant expertise and experience
Independent director, means a director other than a managing director or a whole-time director or a nominee director,-
who, in the opinion of the Board, is a person of INTEGRITY and possesses relevant expertise and experience
Looks like Rajatji isn’t doing his job very well. 🤔
The Ruchi Soya stock has grown by 8,400% in 104 days – while investors rejoice, analysts want a SEBI probe businessinsider.in/business/corpo…
99.03% (nearly 29 crore shares) of Ruchi Soya’s shares are held by fifteen Patanjali group companies, leaving 0.97% (28 lakh shares) to the public. Out of these, only 10,000-15,000 shares are traded daily on an average, making it difficult for retail investors to buy in.
