Asian Paints Limited: Saving the Company from Promoter Shareholders

Saving the Company from Promoter Shareholders

ASIANPAINTS 24112021 InGovern Report.pdf

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• 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.

The company has issued a clarification on 25th November 2021

ASIANPAINT_25112021111357_Newsclarification25112021.pdf

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