openPR Logo
Press release

InGovern Research Services announces the release of its special report on "India Proxy Season 2012 Analysis"

InGovern Research Services announces the release of its special

This report analyzes patterns in the resolutions proposed by Indian listed companies in the just concluded 2012 proxy voting season. Observations on routine and non-routine resolutions proposed by Indian companies have also been discussed. The data has been collated and analyzed from a coverage universe of 588 companies forming part of the S&P 500 and BSE 500 indices, which represent over 95% of the market capitalization of Indian listed companies. Management and shareholder resolutions passed in the Annual General Meetings (AGMs) held in 2012 for these companies have been analyzed.

An additional effort has been made to understand the corporate governance structure and practices prevalent in top 100 companies forming part of the Nifty and Junior Nifty indices. Board size, board composition, contribution of directors at board meetings, role of independent directors, constitution of committees, auditor rotation practices, etc. have been analyzed. The report also looks at a post meeting analysis of outcomes of 2012 AGMs along with key developments initiated in 2012 to encourage shareholder activism in India.

Key Highlights of the Report:

Resolutions Analysis

A total of 4,271 resolutions proposed by 588 companies (Companies of the S&P 500 and BSE 500 indices which formed part of our coverage universe)
Of the 4,271 resolutions proposed in 2012 proxy voting season, there were 3,711 ordinary resolutions and 560 special resolutions. Further, 3,811 resolutions were proposed by management and 460 resolutions were proposed by shareholders
Most resolutions at AGMs passed through show of hands
72% of the resolutions passed unanimously with the remaining passed with requisite majority; Six resolutions were withdrawn/amended

Corporate Governance Structure of Top 100 (Nifty and Junior Nifty) Companies

10% of companies have board sizes of either more than 16 directors or less than 7 directors
9% of companies were non compliant with Clause 49; with less than 50% Independent Directors, with no Independent Chairman
One in five Directors attend less than 75% of Board Meetings
9% of Independent Directors have outside directorships in more than 10 public companies
22% of IDs have served on the Board for more than 9 years
Audit Committees of only 45 companies comprise only of Independent Directors
13 companies have not constituted a remuneration committee
53 companies have had the same Auditors for more than five years

Download Report: India Proxy Season 2012 Analysis

Shriram Subramanian, Founder and MD of InGovern said “Corporate India has a long way to go before adhering to corporate governance best practices. The data stands out with even top companies not treating CG practices in the right spirit. Institutional investors and regulators should demand better practices from promoters and company management. The new Companies Bill is a small step in the right direction.”


InGovern is India’s first independent proxy advisory firm. InGovern assists institutional investors that have financial or reputation exposure to public companies. Our services include: (a) Vote Recommendations (b) Corporate Governance Research and Scorecards (c) CG Consulting and Education (d) Risk Monitoring (e) Directors’ and Executive Compensation Analysis. InGovern was founded with the objective of enhancing the corporate governance culture and shareholder activism of institutional investors in India. Our clients are institutional investors - domestic mutual funds and foreign institutional investors.

Please visit www.ingovern.com for more information or write to us at info@ingovern.com

InGovern Research Contacts:
Shriram Subramanian
M: +91-9844244411
E-Mail: shriram@ingovern.com

Mohan Kumar K
M: +91-9920766426
E-Mail: mohan@ingovern.com

InGovern is India’s first independent proxy advisory firm. InGovern assists institutional investors that have financial or reputation exposure to public companies. Our services include: (a) Vote Recommendations (b) Corporate Governance Research and Scorecards (c) CG Consulting and Education (d) Risk Monitoring (e) Directors’ and Executive Compensation Analysis.

InGovern was founded with the objective of enhancing the corporate governance culture and shareholder activism of institutional investors in India. InGovern acts as a platform which can be used by institutional investors to come together to raise issues and engage on corporate governance matters with companies.

InGovern Research Servives
107, Sector-1, HSR Layout, Bangalore

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release InGovern Research Services announces the release of its special report on "India Proxy Season 2012 Analysis" here

News-ID: 242243 • Views: 1085

More Releases from InGovern Research Services

Mohandas Pai takes an equity stake in InGovern Research Services
Bangalore, India – February 22, 2012, 1700 hrs IST: InGovern Research Services Pvt. Ltd. (InGovern), India’s first proxy advisory services company, is happy to share that Mr. Mohandas Pai has taken an equity stake in the company and will be on its advisory committee. “We are delighted that Mr. Mohandas Pai is endorsing the concept of proxy advisory and corporate governance services. His expertise, domain knowledge and relationships will help InGovern
Broadridge InGovern 2011
Broadridge and InGovern Announce Alliance for Sales and Distribution of Proxy Research and Vote Recommendations for Listed Companies in India Hyderabad and Bangalore, India, Sept. 16, 2011 – Broadridge Financial Solutions, Inc. (NYSE:BR) and InGovern Research Services Pvt. Ltd today jointly announced an alliance for the sale and distribution of InGovern’s proxy research and vote recommendations for listed Indian companies through Broadridge’s ProxyEdge® voting platform. This will immediately allow institutional investors,
PIONEERING SHAREHOLDER ACTIVISM AMONG INSTITUTIONAL INVESTORS
Bangalore, India - May 24, 2011, 1700 hrs IST: InGovern Research Services announces the launch of the InGovern Corporate Governance Platform. The proxy vote analysis platform allows institutional investors to analyze various companies, follow the agendas of shareholder meetings, exercise votes and collaborate with other investors. Research based on objective criteria - Governance Radar - is also embedded into the platform. This is a part of InGovern’s pioneering efforts at

All 4 Releases


More Releases for India

01-17-2011 | Health & Medicine
KJIVF
IVF India, Test Tube baby India
The aim of setting up KJIVF is to help infertile couples in achieving conception through modern diagnostic and treatment methods. KJIVF Centre has given the best results by blessing infertile couples of advanced age with children, these couples could never dream of becoming parents. Thousands of babies are conceived through in-vitro fertilization (IVF) each year; In-Vitro Fertilization (IVF) means fertilization outside the body. A baby developed from an egg that
Beach Holiday India- Best Beaches in India
The natural beauty, exotic locations and rich heritage has helped India to stand as the most visited and most popular tourist spot in the world. The status of “Incredible India”, is defined by an incredible range of nature’s blessings on the Indian subcontinent and this incredibility is doubled by one of the most fabulous tourism option available in the country that are the brilliant and majestic beaches in India.
ISO 27001 India, 27001 training India ISO
Coral eSecure is information Risk Management advisory with specific focus on Information Security (ISO 27001, ISO 17799, PCI, COBIT, HIPAA, GLBA, and DPA), Business Continuity (BS25999) and ITIL/ IT Service Management (ISO 20000). Coral is the FIRST Indian consulting organization which provides an Integrated Management System Consulting, Consisting of ISO 27001, ISO 20000 and BS25999 – ALL THREE IN ONE! Coral provides Consulting, Assurance audit and Training to address these
Interior Designers India, Designers and Architects India
Today, we have recognized ourselves as a booming beauty interior designing firm, offering services that include interior designing. We are a winning firm, which is based on the strong foundation of innovative and original ideas for interior, architectural and landscaping designing services. Synergy Corporate Interior Design Association has more corporate members. Who provide Products and services. We support Interior Designers India, Designers and Architects India. We are committed to the
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will
ISO 27001 india, 27001 training india ISO, 17799 training india ISO, Compliance …
Our foundation of service delivery is based on sound research - thereby customers realizing definitive delight and Assurance resilience in their management system. We provide Consulting Services for ISO 27001 india, 27001 training india ISO,17799 training India ISO Security, BCM/BS25999, SAS 70, COBIT Implementation, Annual Compliance Check, Best Practices Implementation, & Quick Gap Analysis. It is a set of ‘best practices’ controls - management and systems - that enables