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

News Snippets

  • The Army conducts an operational alert exercise in eastern Ladakh
  • The IAF reopened the Vijaynagar advance landing ground, an airstrip in Arunachal Pradesh near the Chinese border
  • Amit Shah says he never sought to impose Hindi
  • Government bans the manufacture and sale of e-cigarettes in India
  • Mamata Banerjee seeks an appointment with Home Minister Amit Shah today
  • Bengal CM Mamata Banerjee meets PM Modi in what she later described as a government-to-government meeting
  • Supreme Court sets a deadline of October 18 for completing the hearings in the Ayodhya case
  • Pakistan rejects India's request for use of its airspace when PM Modi flies to the US later this week
  • Crude prices fall sharply as Saudi Arabia assures normal production in a few weeks. Prices fall by 5.4% to $65.30 per barrel
  • Sensex tumbles 700 points over fears that rising crude prices will deal a body blow to the tottering Indian economy
  • As Rajeev Kumar fails to appear before the CBI despite several notices, the agency forms a special team to locate and apprehend him
  • S Jaishankar says Pakistan is not a normal neighbour and its behaviour is a "set of aberrations"
  • External Affairs Minister S Jaishankar says PoK in Indian territory and the country hopes to have physical jurisdiction over it one day
  • Barasat Sessions court near Kolkata rejects Rajeev Kumar anticipatory bail application citing lack of jurisdiction as the reason
  • PM Modi celebrates his birthday with Narmada aarti and later has lunch with his mother.
Sunni Wakf Board and Nirvani Akhara write to the Supreme Court for a negotiated settlement to the Ayodhya dispute
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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.