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FINANCIAL IRREGULARITIES STARTUPS
VC contract terms get tougher on founder shares after governance lapsesVenture capital firms are tightening founder contracts, with nearly 76% of Indian startups now allowing the forfeiture of vested shares for...- India, Italy look to expand trade, defence ties amid Persian headwindsIndia and Italy have elevated their relationship to a Special Strategic Partnership. Prime Minister Narendra Modi and Italian Prime Ministe...
- Chinese business hired lobbying firm with ties to Donald Trump Jr, then scored a win in WashingtonA U.S. startup's bid to remove a Chinese investor from its board was rejected by a national security watchdog. A lobbying firm connected to...
- Investors rope in Deloitte at Groyyo to shut down its B2B trading businessNew York-based investment fund Tiger Global is also believed to be engaging with another Big 4 audit firm for a potential forensic audit of...
- Governance lapses, irregularities prompt LPs to drive changes in startup investmentsAn LP (an individual or an entity) is the money behind a VC or private equity fund. In the past 12-18 months, allegations of governance lap...
- Mojocare board to decide on shutting shop, returning money to investorsAccording to people briefed on the contents of the final forensic report, the founders have been found to have inflated revenues and sales ...
- Startup governance: Audits in focus amid financial irregularities at new-age venturesSome of the auditors have in recent weeks made presentations to venture capital funds showing how their previous audits unearthed financial...
- Exclusive: Mojocare investors weigh legal action against foundersDraft note circulated among investors says founders inflated revenue; final forensic report expected in 10 days.
- Financial irregularities found at healthcare startup Mojocare after review, say investorsA clutch of investors, including Peak XV Partners (erstwhile Sequoia India), Chiratae Ventures and B Capital, had initiated a review of the...
- VC fund General Catalyst stresses on governance in Indian startupsInstances of financial misappropriation in the last 12-18 months including at startups such as BharatPe, Zilingo and GoMechanic have prompt...
- Ashneer Grover’s Third Unicorn to enter fantasy sports with CrickPeCrickPe will allow players to participate in different contests by either creating private groups or playing with real cricketers to win ca...
- Exclusive: RoC seeks to examine GoMechanic's books after allegations of financial irregularitiesLast week, the National Company Law Tribunal (NCLT) issued a notice to Sequoia-backed beleaguered automobile after-sales service startup ov...
- Sequoia considers auditing South Asia investments as lapses riseSequoia Capital India will also be more selective when taking board seats at companies and, in some cases, might replace junior members fro...
- Zilingo COO Aadi Vaidya quits in latest blow for Singapore startupAadi Vaidya, who joined the company in 2015 and became the COO two years later, confirmed his resignation when contacted by Bloomberg News....
- Former Zilingo CFO Ramesh Bafna joins CoinSwitch Kuber as finance headBafna had been involved in the review of the alleged financial irregularities at Zilingo as well, ET had reported on April 19.
- Sequoia India asks court to dismiss lawsuit by its former counsel: ReportSequoia has been locked in a legal battle with Sandeep Kapoor, after he included the company in a defamation lawsuit against media companie...
- Zilingo sacks CEO Ankiti Bose: how the saga unfoldedThe statement added that after Bose was suspended as CEO, she brought to the board’s attention certain harassment claims but these did not ...
- View: Financial irregularities are easy to uncover if diligent auditors are put on the job and held accountableFinancial irregularities are easy to uncover if diligent auditors are put on the job and held accountable, and if the directors on the boar...
- Former Myntra CFO Ramesh Bafna frontrunner to be new Zilingo CEOThis comes at a time when the Zilingo's board is thinking about removing cofounder and CEO Ankiti Bose, who is presently suspended from the...
- Trell to lay off hundreds of employees amid probeET was the first to report about an ongoing investigation into the company's books of accounts on March 12.
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