I had bought some shares today. Quickly got out after reading the report of the MD’s arrest. What has been dinned into us as the first mantra of investing is: quality of management matters.
One can’t invest in a company whose MD gets arrested (unless he was falsely implicated), and expect to be treated decently. A chor is a chor.
This is the gist of the report:
Those accused in the FIR are inspector Ankur Bansal, Kwality Pharmaceutical Limited managing director Ramesh Arora, its director Ajay Kumar Arora and chief pharmacist Karunakar Tiwari, besides unknown public servants.
The CBI registered the case following a source information about alleged conspiracy between certain CDSCO officials, working under the Health & Family Welfare Ministry, and owners/representatives of companies manufacturing drugs to manage adverse test results.
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