/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Editor's note: Back in July 2019, newspapers were awash in headlines carrying every juicy titbit of the very public spat between Rakesh Gangwal and Rahul Bhatia, promoters of InterGlobe Aviation Ltd, which operates IndiGo, India’s largest airline. Cut to February 2021 and Gangwal is a man vindicated. Despite taking on the IndiGo management, his allegations of questionable related-party transactions and lapses in governance regulations at the airline have found a ringing endorsement in the settlement order issued by the Securities and Exchange Board of India on Tuesday. While the settlement itself is a measly Rs 2 crore and change, the order is unique in many respects: 1) A promoter shareholder whose grievances could not be redressed by the company board and other shareholders has found a sympathetic ear in the markets regulator; 2) SEBI has pretty much taken Gangwal’s side as the order finds no mention of the defence put up by the IndiGo management; 3) In a first, it details the role played by InterGlobe chairman (and former SEBI chairman SEBI) M. Damodaran in the entire affair; and 4) It is …
Editor's note: Back in July 2019, newspapers were awash in headlines carrying every juicy titbit of the very public spat between Rakesh Gangwal and Rahul Bhatia, promoters of InterGlobe Aviation Ltd, which operates IndiGo, India’s largest airline. Cut to February 2021 and Gangwal is a man vindicated. Despite taking on the IndiGo management, his allegations of questionable related-party transactions and lapses in governance regulations at the airline have found a ringing endorsement in the settlement order issued by the Securities and Exchange Board of India on Tuesday. While the settlement itself is a measly Rs 2 crore and change, the order is unique in many respects: 1) A promoter shareholder whose grievances could not be redressed by the company board and other shareholders has found a sympathetic ear in the markets regulator; 2) SEBI has pretty much taken Gangwal’s side as the order finds no mention of the defence put up by the IndiGo management; 3) In a first, it details the role played by InterGlobe chairman (and former SEBI chairman SEBI) M. Damodaran in the entire affair; and 4) It is …
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
A Rs 10,440 crore share swap with listed Shalimar Paints could give the building materials startup a public market presence without a traditional IPO. But the novel route leaves investors grappling with dilution, valuation and governance concerns.
A regulatory easing could see the billionaire’s conglomerate move from running airports to owning an airline—an idea he is warming up to, with multiple options open.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
