IiAS tells investors to vote against Anant’s appointment on RIL board

Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries’ (RIL’s) board, stating his age as the reason. The firm has, however, given its green light to the appointment of Anant’s elder siblings — Akash and Isha.

In its recommendation note, IiAS said, “At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines.”

Ambani’s two elder children — Akash and Isha — are 31 years of age.

According to IiAS voting guidelines, it will recommend voting for the appointment of any director (among other criteria) unless the director lacks adequate experience.