Paying a fee of 250 crore (125 crore/quarter) while the revenue itself is only 149 crore is a mockery and poor management. The management and the board are answerable for their decision to go with a vendor like TCS who doesn’t have any past experience building trading platforms, for not exercising the option to buy the source code and IP rights (63 Moon is open for that as per the above article), and for failing to stick to the agreed milestones.
Interestingly, they were paying a meagre amount of Rs. 16 crore per quarter if it was a long term contract
Poor corporate governance practices, and something is really fishy.
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