I think one should visit the link provided on the tijori link. It leads to a YouTube presentation on forensics where there is a 4 min portion mentioning paushak.
The discussion is a reference on promoters taking loan from company and using it to buyback its own shares, the fact is that from last 2 years the promoter holding is stable and has not changed much. The promoter buying is declared on exchanges and there is less than 10,000 shares traded most of which is internal transfer. There is a merger with another company which is alleged to favour promoters.
There is a mention of loans being rolled over and is made to look like a corporate governance issue. This is a normal thing and does not qualify in anyway as a corp gov issue.
There is a mention by a speaker that he knew someone who worked for Paushak and was there for 15 years and did not get promotion, once he ventured out he got double salary and a “3 level” higher designation, when he resigned Paushak management was willing to match the offer. This is highlihgted as an issue since as per the speaker the owners dont share stuff with employees. Just does not make sense , how is this governance issue.
As regards the money used to buy shares, no source or basis is provided excpet the fact that this is construed from the annual reports.
Somehow its seems just a wild allegation without substance specially when we hear the other reasons shown under corp gov.
Happy to be corrected if proven otherwise.
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