More power to the minorities
Indian laws, in many ways, have focussed on a continuum of the status quo, where the accepted balance of equilibrium is rarely altered, whether by law or by collective action. Most Indian commercial laws are drawn up in line with the best practices in the world but, in implementation and seeking redressal, the rule of law is rather weak. Hence, dispensation of law becomes ineffective when the fear of consequences for a breach of the law is not a deterrent.
Despite the delays in the delivery of justice, Indian investors have rarely resorted to activism when their rights have been compromised. Large institutional investors, who lead this process in mature markets, are relatively quiet in India and no significant measures
of protests against corporate misdemeanours have been initiated by them.
Perhaps the first prominent example of shareholder activism in India was in the case of the merger between Maytas and Satyam. The protest against the merger was led by most of
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