The company is also mulling over amending its `Article of Association', which states the maximum number of directors cannot exceed 18, so that it can induct three more members. To comply with the listing agreement requirement, FDI guidelines, other statutory requirements and shareholder agreements, the company is required to broaden its base... displayed 300 characters
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To comply with the listing agreement requirement, FDI guidelines, other statutory requirements and shareholder agreements, the company is required to broaden its base. It is, therefore, proposed to amend article 117(a) of the Article of Association to increase the existing limit of 18 to 21. The existing article will be replaced by a new one, which would state that the company's management will comprise not less than eight and not more than 21 directors, "unless a greater number is required for legal, regulatory, listing requirements or to meet the provisions of the shareholder agreement"... displayed next 300 characters
Over the past few years, the retail sales in India are hovering around 33-35% of GDP as compared to around 20% in the US. The table gives the picture of India's retail trade as compared to the US and China...
Since at present 60% of the Indian grocery basket consists of non- branded items.
India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort...
Organised retail, which presently accounts for 4 per cent of the total market, is likely to increase its share to 22 per cent by 2010. This growth in organized retail is being driven by a number of structural, social, and demographic and macroeconomic factors as well...
Indian retail is expected to grow 25% annually. Modern retail in India could be worth US$175-200 billion by 2016.
The Food Retail Industry in India dominates the shopping basket The Mobile phone retail industry in India is already a US $167 billion business, growing at over 20 % per year...
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