Siphoning off of funds is a serious claim. Can you share any link or publicly available information which throws more light on this. As far as Management salary goes, Praveen Someshwar the Md is being paid a salary of close to 7 Cr per annum. For someone who was previously Head of Pepsi Asia Pacific region this kind of salary is in the right ballpark.
With the pile of cash that HMVL has they are foraying into new age tech businesses. The company cannot afford to pay peanuts to someone and fritter away the cash reserves. They need the right person for this strategy.
Your claim that the cash is non existent is difficult to believe. The books of accounts are audited by BSR and Co which is an associate firm of KPMG. So unless the auditors are in cahoots with promoters, we need not doubt the cash in the balance sheet. Anyhow, the credit rating agencies also check the books of accounts and HT media has AA rating for it’s long term debt.
It’s not that the management is blameless. But the criticism has to be valid and not unfounded.
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