Micromax promoters, chairman differed on valuations


The exit of Sanjay Kapoor, the former chairman of Micromax Informatics Ltd, in August was spurred by alleged differences over valuation of his personal stake in the mobile handset company and non-issuance of 1% employee stock option plan (Esop) offered to him at the time of his joining, revealed sources and letters on the Ministry of Corporate Affairs’s (MCA) website.

Till now, it was believed that Kapoor had quit the second-largest smartphone company because he differed on strategic matters with the promoters – Rahul Sharma, Rajesh Aggarwal, Sumeet Kumar and Vikas Jain.
The former chairman’s resignation letter put up on the MCA website also threatens the Micromax board of dragging them to the court.

Related Posts Plugin for WordPress, Blogger...
Nagaraju Tadakaluri
Nagaraju Tadakaluri is a Professional Web Designer, Freelance Writer, Search Engine Optimizer (SEO), Online Marketer, Multi Level Marketer (MLM) and Business Promoter. Have developed Latest Updates in hopes to educate, inform and inspire.

Moto X Style first impressions: Worth Rs 29,999

Previous article

2 Indian-American teens among Nasa’s 3-D space contest finalists

Next article

You may also like


Comments are closed.

More in Finance