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

News Snippets

  • Trouble brews in Bihar JD(U)-BJP alliance as Bihar police asks special branch officers to keep tabs on RSS activities
  • Trust vote in Karnataka assembly today. With rebel MLAs deciding to stay away after the SC order, the Congress-JD(S) government is likely to fall as it does not have the numbers
  • Amit Shah says the government will identify and deport illegal immigrants from all parts of the country
  • Reports from Pakistan confirm that Hafiz Saeed has been arrested and sent to jail
  • After the SC order, Karnataka Speaker says he will go by the Constitution in deciding on the resignations of the 16 MLAs
  • Rebel MLAs say they will not attend the trust vote on Thursday
  • Supreme Court rules that rebel MLAs cannot be forced to attend the assembly and vote in the floor test
  • Both the Centre and the Assam government have sought re-verification of up to 20% of draft NRC data
  • Pakistan opens its airspace for Indian planes
  • Dilapidated building collapses in Mumbai, killing more than 10 people while many were still trapped
  • Kulbhushan Jadhav case verdict to be delivered today by the ICJ
  • A Vistara flight landed in Lucknow with just 5 to 10 minutes of fuel left in the tank
  • Supreme Court to decide on Karnataka MLAs plea today
  • Karnataka alliance to face floor test on Thursday
  • China says that the next Dalai Lama will be appointed by it
International Court of Justice agrees with India, stays Kulbhushan Jadhav's execution. It asks Pakistan to allow consular access to the accused.
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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.