Asking questions in agm by minority shareholder
Mathre Rangarajan
(Querist) 24 September 2015
This query is : Resolved
ONGC allotted shares to its employees when it was incorporated as public limited company - Hence I am a minority shareholder - I am retired from ONGC and a Senior Citizen (76 years) - ONGC is ill treating its retired employees specially those who retired before 2007, by denying any pension, even though people retired after 01-01-2007 are paid pension - CMD and Board of Directors refuse to have any dialogue with retired officer's Associations - ONGC boasts that it is awarded internationally as having best HR practices - Is denying pension to nearly 18000 senior citizens is best HR practice? - There are more than 100 litigations of retired employees pending in Supreme Court and various High Courts.
My question is,can I raise these points to expose the management on their very bad HR practice in the forthcoming AGM?
Kindly advise.
Guest
(Expert) 24 September 2015
Minority shareholder or a majority shareholder, being a shareholder, he has unquestionable right to question any practice or process of the company/ corporation in AGM, as per the prescribed procedutre.
DR.VEDULA GOPINATH
(Expert) 25 September 2015
sir
As advised by Mr.Dhingra, you can question in the AGM or EGM.
Please address detailed letter to independent directors of the company who are supposed to take care of these issues independently.
Further you can also file impeading petition in one of the similiar litigations in the supreme court.
I will be happy to know the litigations of supreme court because some time back I gave an opinion in case of retired employees of SAIL and other PSUs who are denied retiral benefits under the false guise of GOLDEN SHAKE HAND.
Already our ex-armed forces have set a precedent which Govt. agreed. How can employees of the latter period get more benefit than THOSE EMPLOYEES WHO STRUGGLED IN THE BEGINNING TO BRING HEAVY NEW DEVELOPMENT TO THE COUNTRY
To be honest, the present development of the PSUs is the hard efforts and sweaqt of the original and old employees which Government and managements are not appreciating unfortunately.
dr vedula gopinath advocate/arbitraotr vgnath@gmail.com
Dr J C Vashista
(Expert) 26 September 2015
Well advised by experts, I fully agree and appreciate.
After all you are a share holder irrespective of the fact that you are holding few shares of the company. You are well within your right to ask any question concerning the management, administration and business of the company where you are a shareholder.
