In a notable corporate governance development, minority shareholders of Linde India have rejected the company’s proposal to approve related-party transactions worth ₹417 crore with group entity Praxair India, reflecting strong investor scrutiny over governance practices. As per regulatory norms, promoters holding 75% stake were not allowed to vote on the resolution, leaving the decision to minority shareholders, and the proposal failed after around 89% of investors voted against it. The vote comes amid ongoing concerns among investors that certain high-growth business segments and opportunities were being allocated to Praxair, an unlisted entity, under earlier business allocation arrangements following the global 2018 merger between Linde AG and Praxair. Under SEBI regulations, related-party transactions exceeding 10% of a company’s consolidated turnover require approval from minority shareholders, making this vote a key governance milestone and highlighting the increasing role of public investors in ensuring transparency and accountability in listed companies.

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