Good Glamm in jam, investors exit board | India News


Bangalore: Mumbai -based unicorn GOOD GROUP OF GLAMMES became the last startup to witness Investor outputs Since its Board, calling attention to corporate governance problems in the Indian start ecosystem. Representatives of three venture capital companies: Anand Daniel, partner of Accel Partners, Vishal Gupta, partner of Bessemer and Gaurav Kothari, director of Prosus Ventures, resigned from the Company Board in December.
The exits of the Board are produced in the midst of financial challenges in Good Glamm, including fund restrictions, delayed salary payments and layoffs. “Verify the rebounds, breaches in salaries, forecasting funds and TDS are all mass risks for anyone at the board of a company. In such a scenario, it is common for the members of the Board to be renounced to liabilities Legal, “Shiram Subramanian, founder and MD of the Advice of Power Inmover Government, told Toi.
The company, which has a portfolio of brands of beauty and direct personal care to trade, had planned an opi last year, which did not materialize. While the OPI can be delayed due to market conditions, good glamm has been at the center of attention for its financial difficulties.
Good Glamm said the exits of the Board are part of a continuous restructuring effort. “In Good Glamm Group, we are in the midst of restructuring and a subsequent fundraising Thursday.
The renunciations of the investors of the starting boards are rare already indicate government concerns. Good Glamm developments reflect those of Byju’s, where a series of exits from the Board of Key Investors highlighted deeper structural and financial problems. This has revived discussions about the role of investors to guarantee transparency and financial discipline in new high growth companies. As governance challenges persist, industry experts continue to discuss the scope of investors’ responsibility to supervise commercial practices and guarantee ethical leadership in the starting scene of India.





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