Sebi frowns on 15-minute AGMs

MUMBAI, Aug 2 (Business Standard): The Securities and Exchange Board of India (Sebi) has criticised companies which wrap up their annual general meetings (AGMs) within 15 minutes.  AGMs are once-a-year exercises, allowing shareholders to interact with company officials.
"Allocation of 15 minutes for conducting the AGM of a public listed company having more than 100,000 shareholders does not appear adequate enough to facilitate a constructive discussion on matters transacted. Such a practice affects the rights of investors to seek clarifications/hold discussions and prima facie appears prejudicial to the interest of the investors," said the Sebi circular, issued on Friday.