Promoters may ‘Give Way’ to controlling shareholders

The capital markets regulator thinks that the promoter concept is outdated as many promoters have little or no say in the way companies are run but have the power to create nuisance value. The image and perception of some companies are clouded by the action of promoters. More listed companies globally have multiple shareholders.

from Markets-Economic Times https://economictimes.indiatimes.com/markets/stocks/news/promoters-may-give-way-to-controlling-shareholders/articleshow/72118287.cms