‘Taj Hotels is flouting law by having fewer independent directors’


MUMBAI
A Mumbai-based pressure group says that the Taj Group of Hotels has violated the law by having only 11 instead of 14 independent directors, most of whom are on the boards of too many companies and are unable to attend shareholder meetings.

Stakeholders Empowerment Services (SES) said in a report that Indian Hotels Company Ltd (IHCL), which owns over 100 hotels including the Taj, does not have a single woman director on its board. The report came as the hospitality major prepares for its Annual General Meeting this Friday.

Reacting to the report, a spokesperson for the hotel group refused to comment on the gender issue but said it is the process of appointing additional directors to meet the legal requirement.

SES does not have legal powers to enforce compliance – market regulator SEBI does –but reports of such groups are usually taken seriously. SEBI did not immediately react to the report.

Full report here Business Line

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