 "36 Raymond and 30 Color Plus stores have been redesigned; a concierge service introduced for better customer experience")
Proxy firm Institutional Investor Advisory Services (IiAS) has slammed textile major Raymond for its move to sell valuable real estate to promoters.
Estimating that the move will cost over Rs 650 crore in opportunity lost, IiAS has asked shareholders to vote against a resolution that is coming up for vote on June 5.
In its forthcoming annual general meeting (AGM) on June 5, 2017, Raymond Limited has presented a resolution to make an offer to sell its premium real estate at throw-away rates to its promoters and their extended family.
Resolution 10 of the AGM said: "RESOLVED THAT in compliance
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