PTC Indian Financial Services sees unprecedented resignation by all the Independent Directors. Must be looked into by regulators urgently.

All 3 independent directors of PTC Indian Financial Services (PFS) have resigned citing corporate governance concerns. I don’t remember something like this happening before. Key points to note – PFS is the NBFC subsidiary of PTC India (65% ownership) Independent directors have raised corporate governance concerns especially on the MD & CEO of PFS, Pawan … Read more

Microsoft CEO Satya Nadella joins Groww as investor, advisor

Tiger Global-backed Groww on Saturday said Microsoft chief executive officer Satya Nadella has joined the company as an investor and advisor. “Groww gets one of the world’s best CEOs as an investor and advisor. Thrilled to have @satyanadella join us in our mission to make financial services accessible in India,” Groww’s co-founder and CEO Lalit … Read more

SBI does another interesting investment. This time into Pine Labs.

The bank is making a $20 mn investment into Pine Labs (PL). Key points to note – In May-July 2021, PL was valued at $3.5 bn when it had raised $ 600 mn from reputed investors including Fidelity, Blackrock and others. Later in September it had raised another $100 mn from Invesco at an undisclosed … Read more

Future Retail misses debt repayment obligation of Rs 3,495 crore

The Company has missed the last date for payment of Rs 3,494.56 crore to banks and others lenders. Key points to note – The last date for payment was December 31, 2021. The due date was as per the One Time Restructuring (OTR) plan approved by the lenders in April 2021 under an RBI announced … Read more