How LIC voted on Reliance, Adani resolutions - and ho it differed from others

In a recent Mint article, key concerns were raised regarding LIC’s inconsistent voting patterns across major Indian companies. An analysis of nearly 9,000 voting decisions showed that while LIC consistently supported or abstained on resolutions at Reliance Industries and Adani Group companies, it rejected similar proposals at several other firms, prompting questions about uniformity in stewardship and governance standards.

Our Founder & MD, Mr. Shriram Subramanian, shared his expert perspective on the governance implications of these patterns. He said, “When a large institutional shareholder like LIC abstains from voting on a resolution, it sends a message to the company management that they are not happy with the proposal without derailing it.” He also highlighted that large institutional investors like LIC must “adhere to the voting policy while voting on resolutions” to ensure consistency and uphold fiduciary responsibility.

Read full article: https://www.livemint.com/companies/news/lic-exceptions-voting-practices-reliance-adani-shareholder-resolutions-11764048992306.html