&w=3840&q=100)
AGMs: Where are the shareholders despite a surge in investor base?
Premium
Amit Tandon
Listen to This Article
Writing about the East India Company in the 1700s, Nick Robins in his book The Corporation That Changed the World wrote that 'the (East India) Company operated as a limited property-based democracy that was run for and by its shareholders……(The) Company's shareholders had to have £500 of nominal stock before they could vote either in the quarterly meetings of the Court of Proprietors held in March, June, September, and December, or at the annual meeting in April. This was the high point in the Company's calendar, when over a thousand shareholders would gather to elect a slate of 24 directors.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
43 minutes ago
- United News of India
Chola MS records Rs.1997 cr GWP in Q1 FY25-26
Chennai, July 22 (UNI) Cholamandalam MS General Insurance Company Ltd (Chola MS), a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group of Japan, today announced its unaudited financial results for Q1 FY25-26, reporting a Gross Written Premium (GWP) of Rs 1,997 crore. On the key financial and operational highlights for Q1 FY25-26, the company said Gross Written Premium (GWP) growth was at 2.7% consequent to the 1/n method of GWP recognition effective October 1, 2024. The GWP growth was 7.9% on full premium basis. The Company had Rs.102 crs of non-motor long term premium the recognition of which has been deferred to respective annual periods. Profit Before Tax (PBT) for Q1 was Rs.144.77 Cr as against Rs.178.96 crores in the corresponding quarter. The Company made a higher provisioning for motor third claims in the context of rising value of awards and absence of any increase in motor third party premium over the last four years. The results for the quarter were also impacted by a few large claims in the fire line of business. The net worth rose to Rs 3,106 crore as of June 30, 2025 with the solvency ratio at 2.17 times (regulatory requirement of 1.5 times) and recorded a return on equity of 3.45% for the quarter (not annualized). Commenting on the performance, Mr. V. Suryanarayanan, Managing Director, Chola MS, said, 'We remain steadfast in our pursuit of sustainable and profitable growth. Our continued investments in digital platforms, data-led decision-making, and strategic distribution partnerships have ensured we stay resilient and future-ready. We are committed to enhancing value for our customers, partners, and stakeholders through innovation, operational excellence, and a strong service ethos.' UNI GV 1930
Business Standard
5 hours ago
- Business Standard
Piramal Pharma to sell its decommissioned unit in MIDC, Thane for Rs 8.50 cr
Piramal Pharma announced that the Administrative Committee of the Board, at its meeting held today, has approved execution of a sale deed and ancillary definitive agreements with Global Pharma (Buyer) for the sale of decommissioned unit located at A-159, MIDC, Wagle Industrial Estate, Thane West 400604 for a proposed consideration of approximately Rs. 8.50 core plus applicable taxes. The transaction is expected to conclude within 90 days, subject to fulfilment of conditions as described in the sale deed. The company added, "We reiterate that the unit is decommissioned and contributed Nil to the Company's turnover, income, and net worth in the last financial year. Accordingly, sale will have no impact on Company operations."
News18
a day ago
- News18
When Did Pensions Begin Globally And What Was The First Pension Amount In India?
Pension is the most critical financial support for senior citizens. After serving the country or state for a long time, every retired employee receives a fixed amount each month to help with their living expenses. Nowadays, not only government employees but also individuals working in private companies rely on their pensions after retirement. The pension system in India was introduced during the British period. The history of pensions is more than 2,000 years old. According to historians, the pension system is first mentioned in the Roman Empire, initiated by Roman Emperor Augustus (27 BC-14 AD). At that time, this system was started for soldiers. Soldiers who served for a long time in the Roman army were given land or money upon retirement, enabling them to live a respectable life even after their service ended. Within a few years, Indian soldiers and civil servants also began receiving pensions. Historians believe that the first pensions were given to British military officers, many of whom are still renowned today, such as Lord Cornwallis. It is not recorded who the first Indian pensioner was, but it is likely that one of the first individuals to retire from service was a sepoy or havildar who received a pension during British rule. According to media reports, an ordinary soldier received a pension of Rs 4 to 7 per month, while a British officer received Rs 100 to 200 per month. Today these amounts seem very small, but at that time, Rs 1 could cover the expenses of an entire family for a month. Later, in 1889, German Chancellor Otto von Bismarck introduced the first public pension for senior citizens over 70 years of age, transforming the pension from an honour to a right and forming the foundation of social security systems. The history of pensions in India dates back to the British rule. The East India Company had made provisions for its officers and soldiers to receive some income upon retirement, thus giving rise to the concept of pensions out of necessity. For government employees, pensions were formally introduced in 1881. At that time, this amount was considered the minimum required for a retired person to live without worrying about food, water, or shelter.
