Rashmi J
The genesis of shareholder activism in India can be traced back to early 2010 when SEBI came up with a mandatory requirement to disclose their voting policies as well as voting actions at their investee organizations on an annual basis. Clause 49 of listing agreement which is implemented by SEBI inculcate the essence of the new organizations act for greater participation of minority shareholders in taking racial decisions of the organizations, it also strengthens the role of independent directors serving on corporate boards and disclosure of detailed information about remuneration of directors and SEBI had put forward the responsibilities of audit committees. It is considered to be a set of dynamic efforts on the part of shareholders to change the behavior of organizations and governance rule. Proxy advisory which is regulated by SEBI has made immense contribution. The paper focuses on regulatory reforms towards shareholders, the influence of activist’s shareholders on organizations and impact of share market on shareholders in India after the union budget which has hampered majority investors. Case study analysis is used to gather the data on shareholder activism
Shareholder Activism, Proxy Advisory Firm, Minority Shareholders