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Tata Motors Shareholders Approve Pay Proposals Of 3 Executives

Updated: February 14, 2015 6:10 am

Shareholders of Tata Motors have approved all five resolutions relating to remuneration of key executives that were put before them. The firm aggrieved by the outcome then, decided to approach shareholders again, with additional information this time around. They also split the earlier three resolutions into five. In a fresh voting, after explanation from Tata Motors, 99 per cent shareholders approved salaries for FY-14 and about 80 per cent shareholders voted in favour of revised salaries for FY-15 and FY-16 Earlier, 30 per cent shareholders (64 per cent institutional shareholders and 41 per cent public shareholders) had opposed the proposed increment of the late Karl Slym, former MD of the company, Ravindra Pisharody, executive director, commercial vehicles, and Satish Borwankar, executive director, quality. The proposal got 70 per cent approval, failing to get 75 per cent needed for special resolutions.

Rcom Gets Rs 650 Cr From Promoter Group Tifpl

Reliance Communications said that its group entity Telecom Infrastructure Finance Pvt Ltd has paid Rs 650 crore to it, thereby increasing promoter’s holding to 59.7 per cent in the company. “The committee of directors at their meeting held today have allotted 8,66,66,667 equityshares to TIFPL, against Warrants issued to them. As a result, the promoter Group’s holding has gone up to 59.70 per cent from existing 58.25 per cent,” RCom said in a statement.

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