I don’t think that is possible, in the sense that, if they are exceeding the limit granted by laws and acts, there is nothing retail investors or for that matter institutions can do.
Technically they are not doing anything wrong, if it is appropriate or shareholder friendly, is another topic.
This is from Avanti Feeds, although it is a different company, the essence more or less is the same, managements are not doing anything wrong, so retail has no say, as these are not subjective, these are defined.
Salary hike to management? Isnt it better to increase dividend, or do a buyback to reward promoter also? We are giving good dividend and may increase it if performance is good. Salary hike reasons- Whole time directors- Fixed+ % of profits. The limit was fixed long time back at inception of companies act and increase is within companies act limits. Fixed portion increase is to cover increase in cost of living. Companies act is allowing to take more percentage so that is why we are going for an increase (?? beats me!) Work has increased, challenges have increased, competition has increased, expansion is taking place. There are external factors like RM costs that affect the profits. We are paying 43% income tax- it is a constraint. Remuneration has been stagnant over the years. We expect investors to understand and cooperate because we are taking care of you. (didnt sound good to me)
Not invested in CDSL or Avanti.
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