This alone cannot tell us anything we need to triangulate here. But, if there is cultural collapse is brewing, and they do have corporate governance issues like misuse of funds, unusual relationship with managers and board, promoters then yes, holding position as a director in subsidiaries companies and parent company might be a big red flag. one thing to look at in those cases, is to ask one question – Is there is a tightly woven web of insiders? That might allow them to do shady things and cover them up.
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