INDIA Trends and Developments Contributed by: Raghav Seth, Shruti Garg, Pranav Tomar and Shailja Rawal, AZB & Partners
more dispersed shareholding model, akin in certain respects to the United States corporate framework, where companies operate with a wide base of share- holders rather than concentrated promoter control. Correspondingly, there has been a marked increase in awareness among minority shareholders regard- ing their statutory rights and remedies. This growing consciousness is likely to translate into more active enforcement of governance standards, particularly to ensure that the affairs of a company are conducted strictly in accordance with its Articles of Association and in a manner that is not prejudicial to the interests of the company or its members.
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