In a recent development that has caught the attention of the investment community, ace investor Vijay Kedia has responded to a controversial incident involving GKB Ophthalmics Ltd and a disgruntled shareholder. The incident, which occurred during the company's virtual annual general meeting (AGM), has sparked discussions about shareholder activism and corporate governance.

The Incident

During GKB Ophthalmics' virtual AGM, shareholder Abhishek Kalra, who owns just one share of the company, launched a verbal attack on the management. Kalra directed his criticism at Managing Director Krishna Gopal Gupta, citing poor stock performance and governance issues. In a bold move, the shareholder demanded Gupta's resignation within 10 days.

Vijay Kedia's Response

Vijay Kedia, known for his astute investment strategies and market insights, offered a balanced perspective on the incident:

1. Condemnation of Language: Kedia explicitly condemned the harsh language used by Kalra during his confrontation with the GKB Ophthalmics management.

2. Support for the Message: Despite his disapproval of the approach, Kedia expressed support for the underlying message conveyed by the shareholder. He emphasized the importance of respecting shareholder money and addressing their concerns.

3. Call for Accountability: Kedia pointed out that incompetent managements drawing high salaries and perks should be held accountable for their performance.

Broader Implications

This incident highlights several key points:

• Shareholder Activism: The event underscores the growing trend of shareholder activism in India, even among retail investors with minimal holdings.

• Corporate Governance: It brings attention to issues of corporate governance and the need for transparency in company operations and decision-making.

• Investor Sentiment: Kedia's comments reflect a broader sentiment among India's investing community, which now comprises approximately 13 crore investors.

• Management Responsibility: The incident serves as a reminder to corporate managements about their responsibility towards shareholders and the potential consequences of poor performance.

While the confrontational approach taken by the shareholder has been criticized, the incident has opened up important discussions about the rights of shareholders and the accountability of company managements. As the situation unfolds, it remains to be seen how GKB Ophthalmics will address these concerns and what impact this may have on the company's future governance and performance.

GKB Ophthalmics Ltd, a player in the ophthalmic industry, recently held its 43rd Annual General Meeting (AGM) amid controversy as a shareholder with a single share launched a verbal attack on the company's management.

Shareholder Confrontation

The virtual AGM, held on August 21, 2025, became the center of attention when investor Abhishek Kalra, owning just one share, confronted the company's leadership. Kalra directed his criticism at Managing Director Krishna Gopal Gupta, questioning his performance despite claiming 40 years of experience in the ophthalmic industry.

Allegations and Demands

Kalra alleged that Gupta's corporate bodies abroad have never delivered profits. In a bold move, the shareholder demanded Gupta's resignation within 10 days and made personal remarks about his leadership.

Stock Performance Concerns

The confrontation comes against a backdrop of weak stock performance for GKB Ophthalmics. The company's shares have seen a significant decline:

However, there has been a recent recovery, with the stock showing a 10.51% increase over the past three months.

AGM Proceedings

Despite the confrontation, the AGM proceeded with its agenda. The meeting, conducted through video conferencing, saw the passage of several resolutions:

1. Adoption of Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2025
2. Re-appointment of Mr. Cedric Lobo as a director
3. Appointment of Ms. Girija Nagvekar as Secretarial Auditor
4. Approval of material related party transactions
5. Fresh approval of the company's borrowing limit
6. Creation of mortgages/charges on the company's assets

All resolutions were passed with the requisite majority, with 100% of the votes cast in favor for most items.

Shareholder Participation

The AGM saw participation from 55 shareholders, including 6 from the promoter and promoter group, and 49 from the public. The total number of votes polled varied for different resolutions, ranging from 161,904 to 869,997 votes.

While the shareholder's outburst has drawn attention to GKB Ophthalmics, the company continues to navigate its business operations amidst these challenges. The management's response to the criticism and its plans to address the stock performance concerns remain to be seen.