The ongoing fight between cousins in Finolex Cables, with Orbit Electricals owning 31% shares and controlled by Prakash Chhabria, could potentially result in a change in control if voting results are against Deepak Chhabria. The Supreme Court allowed Orbit to participate in the voting at the recent AGM, but the results have not been disclosed yet. While it’s not the first instance of undisclosed voting results, the company should have disclosed them but withheld action pending the NCLT ruling. Institutional investors should question management on how they are addressing the dispute to protect the company’s performance.
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