So you think Hong Kong shareholders sometimes behave badly? The buffet battles that have been seen in the past at meetings of Hutchison Whampoa and some other firms in the territory is nothing compared to what went on in India this week.
Antics at the annual meeting of Kelvinator of India on Monday were brought to my attention by Gary Greenberg of Peregrine Asset Management in Hong Kong.
About 500 shareholders turned up and blocked the meeting in New Delhi for almost two hours. This was not because they disagreed with any of the resolutions - it was because the location and the freebies were not up to scratch.
First, they turned their noses up at the function room, an air-force auditorium. 'That angered many shareholders, who felt it should have been held in a five-star hotel, befitting Kelvinator's status,' said Rajendra Bajpal, reporting on the spot for Bloomberg.
One shareholder told the meeting: 'There is no water; there is no tea; and last year's gift was a blot on Kelvinator's name.' Worried by the seething crowd, executives formed a quick huddle and decided to give each shareholder a portable food-warmer and a pen. This was not a good idea because the previous year's gift had been a pen, which shareholders had complained didn't work.
The audience then started battling with security guards. Chairman J.R. Desai decided to adjourn the meeting until next month and tried to leave, Bloomberg reported.