IiAS has recommended voting AGAINST Jindal Steel and Power Limited (JSPL) proposal to sell its 96.42% equity stake in Jindal Power Limited (JPL; the company’s power business) to Worldone Private Limited (WorldOne). WorldOne is currently holds equity investments in Jindal family companies and has Naveen Jindal (JSPL’s Executive Chairperson and promoter) as its majority shareholder.

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