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

News Snippets

  • SP drops two candidates owing allegiance to Azam Khan from Rampur and Moradabad
  • In Assam, a controversy erupted after a picture of UPPL leader Benjamin Basumatary, lying on a stack of Rs 500 notes circulated on social media. UPPL is an ally of the BJP
  • AAP's Jalandhar-West MP Sushil Kumar Rinku joins the BJP. He was the only AAP Lok Sabha MP
  • Supreme Court dismisses Centre's plea to review its 2023 verdict in the PMLA case
  • Close save for passengers as they remain unhurt after the wings of two planes graze at Kolkata airport. Pilots derostered and inquiry ordered by DGCA
  • Bengal BJP leader Dilip Ghosh gets notice from the EC as well as the BJP for making ugly remarks about Mamata Banerjee's parentage
  • Sadanand Vasanth Date, who faught terrorists in the 26/11 attack and was awarded the Preisent's Police medal, has been appointed the head of the NIA
  • Centre will borrow Rs 7.5L cr in the first six months of FY25, nearly 50% of the target for the full year
  • 25 stocks, including SBI, will see same day trade settlements from today in the world's fastest settlement mode in both BSE and NSE
  • Stocks recover smartly on Wednesday: Sensex rises 526 points to 72996 and Nifty 118 points to 22123
  • Tennis: Rohan Bopanna-Matthew Ebden reached the semifinals of the Miami Open
  • IPL: records tumble as SRH beat MI in a high-scoring match. SRH score 277/3 with 18 sixes and Mumbai score 246 with 20 sixes to fall short by 31 runs. Atotal of 38 sixes, highest in an IPL match were hit and both teams combined to score 523 runs, the highest aggregate in an IPL match
  • Amul will launch fresh milk in the US
  • IPL: RCB beat Punjab by 4 wickets as Kohli and Karthik shine with the bat
  • India strongly objected to German foreign office remarks over the arrest of delhi CM Arvind Kejriwal, called it "biased assumptions"
Delhi Lt Governor Vinai Kumar Saxena says government cannot be run from jail, hints at President's Rule in the capital ////// In a dangerous incident, the wings of two planes grazed while taxiing on the runway at Kolkata airport, all passengers were safe but DGCA ordered an inquiry and the pilots were derostered
oppn parties
Housing.Com's Rahul Yadav: Young Philanthropist or Manipulator

By Sunil Garodia
First publised on 2015-09-22 18:36:22

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator.
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.