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
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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...
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