Published
Jul 14, 2022
Download
Download the article
Print
Text size

Textile business Trident questioned for non-executive chairman remuneration

Published
Jul 14, 2022

Textile business Trident is facing questions over the total remuneration it has paid to its non-executive chairman and promoter Rajinder Gupta in the 2022 financial year.

Trident specialises in fabric manufacturing


Advisory business Stakeholder Empowerment Services raised concerns over how Trident is remunerating its directors. “Unless the company could explain the rationale behind paying Rs 57.6 crore as commission to Rajinder Gupta, SES is raising concern regarding the appointment of Rajinder Gupta,” wrote SES in a report on the matter, ET Bureau reported. 
 
According to regulations, the business must get approval from its shareholders if it wishes to remunerate a single non-executive director with over 50% of the total annual remuneration it pays to all of its non-executive directors. SES has recommended the business’ shareholders vote against Trident’s resolutions seeking approval for Gupta’s remuneration and his reappointment as a director at its Annual General Meeting. 

“Though the company has, inter alia, disclosed that Rajinder Gupta provides valuable advice and strategic inputs to the company on various critical business aspects, SES is of the view that his remuneration is significantly disproportionate to the other non-executive directors as well as executive director,” said SES in its report. 

Copyright © 2024 FashionNetwork.com All rights reserved.