66 resolutions defeated by shareholders in last three years

Push by regulators forcing institutions to assert themselves, says IiAS

Minority shareholders have defeated at least 66 resolutions in the last three years. This has coincided with the new Companies Act and corresponding changes brought in by regulators that have empowered the shareholders. Other convenience measures such as e-voting have also helped.

While the number of rejected resolutions was high in 2014 at over 30, it has stabilized around a dozen defeated resolutions, every year, according to numbers collated by proxy advisory firm Institutional Investor Advisory Services (IiAS).

"This is largely attributable to recent changes in the governance framework in India which have empowered shareholders by providing them a greater say on