ITCBSE 0.50 % Ltd has filed a Rs 1,000-crore defamation suit against Mumbai-based proxy advisory firm Institutional Investor Advisory Services India (IiAS) for allegedly making defamatory comments against the company and its directors. The suit has been filed before the Calcutta High Court.

IiAS had published a report in July, questioning the monthly remuneration which would be paid to ITC's non-executive chairman, YC Deveshwar.

It had recommended voting against this. When contacted, an ITC spokesperson said the matter was sub judice and hence will not make a comment.