Asian Paints – Saving the Company from Promoter Shareholders

Report released on 24-Nov-2021

ASIANPAINTS 24112021 InGovern Report

• Conflict of interest by Promoter Directors who own company Paladin Paints and Chemicals Private Limited, and other companies supplying goods to Asian Paints.
• Board of Asian Paints has failed to act decisively to mitigate the conflict of interest.
• Inadequate disclosure of value of related party transactions and logic thereof; thus, leaving the issue a bit cloudy.
• The inaction by the Board raises questions of intent.
• In the interest of good governance, company needs to present details of the transactions – values, nature and logic – with Paladin and other related parties controlled by promoters.
• SEBI needs to investigate and insist on detailed disclosures of related party transactions by such a large listed company.

****

Asian Paints puts out a clarification based on our Report

Microsoft Word – Clarification to Stock Exchanges on HBL and BS reports on RPTs (nseindia.com)

****