Promoters Of Four Firms Face Proxy Firm Veto

Proxy Advisory firm InGovern has recommended shareholders of Sterling and Wilson Solar Ltd., to vote against the reappointment of Pallon Mistry, its non-executive director or continuing the term of Keki Elavia as an independent director. The company will be holding its annual general meeting on Sep. 30.
InGovern has argued in its report that the failure of promoters to fulfil their obligations has resulted in loss of more than 75% in the investment value for investors due to a fall in the stock price of the company.