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Will respond to allegations in InGovern report: Asian Paints

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Will respond to allegations in InGovern report: Asian Paints

New Delhi, Nov 25 (PTI) Asian Paints on Thursday said it will respond to a report by ‘proxy’ advisory firm InGovern alleging related party transactions (RPTs) against one of its promoters, the Dani family.

InGovern, in a report, has said that Malav Dani, a company that supplies raw materials to Asian Paints, is controlled by Malav Dani, which creates a conflict of interest case. It has said that in such a situation, the promoter director should resign immediately.

Reacting to this, Asian Paints on Thursday said that the company has received InGovern’s report a day before and it will give a befitting reply. Some of the wrong facts mentioned in the report will also be cleared.

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