After securing major wins at the annual general meetings of the three cable manufacturing companies of the MP Birla group, the Lodhas have repeated that performance at the annual general meeting (AGM) of the group flagship Birla Corporation.
While shareholders of Birla Corporation have voted in favour of all the resolutions, supported by the management of Birla Corporation, the lone resolution moved by The Punjab Produce & Trading Co, one of the investment firms of the MP Birla group, was rejected by them at the company’s AGM.
Voting results of Birla Corporation, filed by the company on the stock exchanges on Friday, showed that Rameshwar Singh Thakur, a nominee of The Punjab Produce & Trading Co as a non-executive non-independent director of the company, received 29.66% of votes cast in his favour.
The board of directors of Birla Corporation had “strongly recommended against” the appointment of Thakur as a director of the company.
The voting results of the AGM, held on September 29, also showed that the resolution for the appointment of Arvind Pathak as MD & CEO of the company for a period of three years received 99.99% of the valid votes.