The Vedantas Reserves Transfer Proposal Has the Support of Proxy Advisory Firms

Vedanta Ltds plan to reorganise capital and revolve Rs 12,587 crore from general reserves to retained earnings has been supported by Glass Lewis, a US-based proxy advisory firm . This isnt the first time such a transfer is made, HUL had done the same in 2018 when it moved the entire balance lying in its general reserves as of April 1, 2015 (roughly Rs 2,187 crore) to its profit and loss (P&L) account .

Vedanta Ltds plan to reorganise capital and revolve Rs 12,587 crore from general reserves to retained earnings has been supported by Glass Lewis, a US-based proxy advisory firm.Therefore, we believe that shareholders should accept the proposed transaction.This isn't the first time such a transfer is made.HUL had done the same in 2018 when it moved the entire balance lying in its general reserves as of April 1, 2015 (roughly Rs 2,187 crore) to its profit and loss (P&L) account.

Prior to the announcement of dividends, the corporations had to transfer a certain amount of money to their general reserves.