Honest Bet

“In every phase of bullishness in the markets, there are some unworthy recipients of capital. Either the performance doesn’t hold up or markets become more discerning,” says Aashish Somaiyaa. Some examples include Vakrangee Ltd., PC Jewellers, Manpasand Beverages and Atlanta Ltd, among many others.

Shriram Subramanian, MD, InGovern, says, “Lack of transparency and essential disclosures seemed to have pushed auditors to suspect something amiss with financial statements and so they resigned from companies like Manpasand Beverages.”