Group promoters recommend Puneet Bhatia as nominee in Shriram Transport

Shareholders of Shriram Transport Finance Company had recently voted against Bhatia's reappointment as director

Shriram Transport Finance Company (STFC) and Shriram Capital Ltd (SCL) have asked Puneet Bhatia, co-managing Partner for TPG Capital Asia and the head of TPG Capital India, to act as a director and be re-inducted into the Board of STFC as a “Nominee” of the Promoter (SCL).

The development comes a few days after the majority of the shareholders of STFC voted against Bhatia's reappointment as the Director of the Company. It came after proxy firms' recommendations to vote against the resolution as Bhatia did not attend half of the company's Board meetings last year.

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