Asian Paints denies allegations related to related party deals

The Company has denied allegations of a whistleblower on undue advantage to the promoters at Company’s expense and provided the necessary clarifications. The allegation – Reports surfaced in media that a whistleblower has made a complaint that Asian Paints (APL) entered into a transaction with one of it’s ex-employees Jayram Nadkarni and the company founded … Read more

To comply with updated regulations, Vishal Kampani vacates MD’s office

Vishal Kampani, son of Nimesh Kampani (Indian securities market veteran) decides not to seek re-appointment as MD of JM Financial (JMF) and instead decides to take the position of Non-Executive Vice Chairman w.e.f. October 1, 2021. Key points to note – Kampanis (promoter family) own 54.75% of JMF. Decision to give up MD post is … Read more

Forbes & Co sells Eureka Forbes but money would go directly to the shareholders

Shapoorji Pallonji Group has decided to sell Eureka Forbes business to the Private Equity (PE) giant, valuing business at Rs 4,400 crore. Eureka Forbes is a 100% subsidiary of the listed group entity Forbes & Co (Forbes). Structuring of the transaction is very interesting – Normally, in such transactions, the holding company (Forbes in this … Read more

Zomato co-founder Gaurav Gupta resignation comes as a surprise

The intimation for the same was made by Gaurav through an email to Company employees. Zomato founder and CEO Deepinder Goyal confirmed it on twitter. Reason mentioned – “taking a new turn in life and start a new chapter” Key points to note – Gaurav had joined Zomato only 6 years ago in 2015 and … Read more

Jeh Wadia exits all listed group companies

There is something cooking at the Wadia group. After stepping down as MD from the family controlled Go Airlines (rebranded as Go First) and Bombay Dyeing in March 2021, Jehangir Wadia (48, younger son of Nusli Wadia) has now stepped down from the boards of Britannia Industries and Bombay Burmah Trading Corporation (BBTC). There is … Read more