oppn parties Housing.Com's Rahul Yadav: Young Philanthropist or Manipulator

News Snippets

  • The government will make new IT rules to make it mandatory for platforms to provide traceability of content
  • PM Modi says India striving to move to evidence-based policy making by 2022
  • Patna High Court says that courts are clogged with cases against prohibition in the state
  • NCP-Congress say unanimity reached on government formation in Maharashtra, talks with Sena today
  • Surrogacy Bill referred to 23-member select committee by the Rajya Sabha
  • Government has asked the IITs to follow the quota system in hiring faculty
  • Gujarat police say self-styled godman Nithyanand has fled the country
  • Muslim parties are split over seeking review of the Ayodhya verdict
  • Indian skipper Virat Kohli says the pink ball could pose a lot of challenges due to its weight, hardness and colour
  • India to play its first pink-ball Test match against Bangladesh from Friday at the Eden Gardens in Kolkata
  • In reply to a question in Parliament, the government says it is empowered to lawfully intercept, monitor or decrpyt information stored in a computer resource in the interest of sovereignty or integrity of India
  • Police stop a 12-year old girl on her way to the Sabarimala shrine
  • In Karnataka, the JD(S) indicates that it might support the BJP government if it falls short of numbers after the bypolls
  • Congress pips the BJP in local body elections in Rajasthan, winning 961 wards to the BJPs 737
  • After Airtel and Vodafone-Idea, Jio also indicates that tariffs will be raised from December
Perfect start for India in the first pink-ball Test. Bangladesh skittled out for 106 runs while India make 174 for 3 in reply. Ishant Sharma took a fiver
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Housing.Com's Rahul Yadav: Young Philanthropist or Manipulator

By Sunil Garodia

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator. Writes for a number of publications.
Housing.com’s young founder and CEO, Rahul Yadav, has announced that he will give away all his shares in the start-up to his employees. The 4.5 % stake is variously valued at anything between Rs 75 crore to Rs 200 crore.

Yadav was in the news recently for all the wrong reasons. He had resigned from his post alleging that the dotcoms funding partners were not being fair. The ostensible reason for resigning was that he accused Sequoia Capital MD Shailendra Singh, one of the investors, of poaching staff from his company.

In his resignation letter, he wrote that “I don't think you guys are intellectually capable enough to have any sensible discussion anymore. This is something which I not just believe but can prove on your faces also.”

But other investors, including Japan’s SoftBank, made him change his mind. That all is still not well in the boardroom is evident from his decision of giving away the shares.

There are a lot of issues involved that can only come out if insiders speak up. For, founder shareholders are not permitted to part with their shares, even as gifts, without the concurrence of the board. Did the board permit him to transfer the shares? Or is Yadav doing it on his own accord? If it is the latter, then the board might well refuse to register the transfer. Is it just a publicity stunt by Yadav, as some analysts are alleging? Or is it a pressure tactic to bring investors around to his point of view?

If it is act of charity, it needs to be applauded. But as more and more questions are being raised, we will have to wait and watch how the issue develops before taking a stand.