Infosys today said its shareholders have approved the proposal to adopt a new Articles of Association (AoA), bringing provisions for buyback of shares and appointment of independent directors. It added that they also approved a pay hike for COO Pravin Rao.
Manappuram Finance is in the spotlight once again and this time over affirmative rights. It wants to retrospectively amend its articles of association (AOA) to accommodate institutional investors who subscribed to its issue of cumulative convertible preference shares in 2008.
The government is clearing the decks for the buyback programme. The government is looking to amend the articles of association (AoA) of public sector units for share buybacks, reports CNBC-TV18's Siddharth Zarabi.