News Snapshot:
Let's begin. Proxy advisory firm Institutional Investor Advisory Services India has urged the independent directors of Raymond Limited to probe into the allegations against chairman and managing director Gautam Singhania made by his estranged wife Nawaz Modi. IiAS also wants them to appoint an interim CEO till the investigations are completed and warned that their silence could be misconstrued. In an open letter on Tuesday, the advisory firm has also asked them to engage the services of an independent legal counsel, apart from dispassionately separating ownership from management. Quoting media reports, IiAS said that Nawaz Modi Singhania, a board member,...
