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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Despite numerous problems at the financial services arm of the Aditya Birla Group, its CEO had managed to hang on. But the whistleblower’s complaint proved to be the last straw.
A letter from a whistleblower is what ended Ajay Srinivasan’s 14-year reign as the point man of Aditya Birla Group chairman Kumar Mangalam Birla’s $3.5 billion financial services empire, according to three people with direct knowledge of the matter.
Sent to the boards of Aditya Birla Birla Capital, the holding company of the group’s financial services businesses, and its subsidiary Aditya Birla Sun Life AMC in end February, it levels serious allegations of corruption and mismanagement.
Along with sealing Srinivasan’s fate, the 16-page letter is believed to have ushered in some key management changes within Aditya Birla Sun Life AMC, …
The Rs 1,800 crore push into cables and wires may find it hard to rewire a market built over decades.
The Sprng Energy acquisition gives Aditya Birla Renewables instant scale and diversification. But high leverage, execution delays and margin pressures point to a tough test ahead.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
