Laxey Partners has rebutted criticisms from Hirco, the Indian property investment vehicle, over attempts to vote Hirco’s chairman and other key directors off Laxey’s board.

Laxey is seeking to oust Niranjan Hiranandani, Hirco chairman, and two non-executive directors, David Burton and Nigel McGowan, from its board at an extraordinary meeting scheduled for May 6.

The move follows the collapse in January of plans for a reverse takeover by Aimlisted Hirco, which would have seen it merge with Hirco Developments to become a real estate developer rather than an investment company.

Financial Times