WE DON’T NEED YOUR MONEY
The top executive of an ecommerce giant under fire from regulators recently met a lawmaker and made a case that its litany of troubles in India were unfair because it was making big investments in the country. The lawmaker gave a patient hearing, turned to his secretary and asked to bring a file. He showed the executive a list of companies that were the biggest investors in India. The ecommerce company did not figure in the list. The lawmaker told the executive that there are far bigger investors in India that are complying with Indian laws. “If you don’t like it here, you are free to leave. We don’t need your money,” he said.
MUTUAL FUND CHRONICLES
There is buzz on the Street that a high-profile head of a mutual fund (MF) is evaluating fresh opportunities and may be on the way out. We aren’t sure what seems to have triggered these sudden whispers. In a case of juicy timing, the MF arm of a conglomerate is on the hunt for a new CEO. Could these events be related? Well, maybe, maybe not. The buzz of the exit of this top executive, who is quite active on social media, has grown since the first firm has seen other senior exits in the past few months. That in turn has also led to speculation that the departed folks may be starting a new outfit and would look at poaching their former colleagues.
BACKDOOR DRAMA AT A FINTECH
This fintech founder’s exit has led to many tongues wagging. But here’s something we hear that you may not know. Grapevine suggests that a key investor in the firm put indirect pressure on the founder to leave. The investor did so by allegedly leaking details of an email conflict with the founder to […]
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