Proxy advisory firm urges independent directors of Raymond to investigate allegations against chairman Gautam Singhania; asks directors to take time off during investigation; suggests appointment of interim CEO; advises retaining independent legal counsel; calls for communication with investors and stakeholders to address concerns; notes significant drop in stock price since allegations surfaced. IIAS concluded its letter by saying, "Your resolute actions in the current situation will be etched in corporate history.

from Times of India https://ift.tt/PH76Cua