JK House deal: Proxy advisor IiAS questions CMD Gautam Singhania's role

Says Singhania cannot abdicate responsibility, urges shareholders not to reappoint him as a director

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has questioned the role of Raymond's Chairman and Managing Director in the related-party transaction involving JK House. Slamming his conduct in distancing himself from the deal, the proxy firm has asked shareholders not to reappoint him as a director in the annual general meeting on Monday. 
 

In a note titled "For Gautam Singhania is an honourable man" released after Singhania's statement on the matter on Friday, IiAS said Gautam Singhania’s recent message to shareholders is an attempt to dissociate himself from the transaction that allows the company to sell premium real-estate in