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Strengthening of group audits should benefit investors

Money Control

Money Control · 10m ago

Strengthening of group audits should benefit investors

The National Financial Reporting Authority (NFRA) has proposed a new accounting standard that aims to regulate group audits. This standard will govern how audits are conducted for companies with subsidiaries and associates and will hold the principal auditor accountable for the consolidated financial statements. The NFRA has released a draft of the proposed accounting standard on relying on the work of another auditor, which is crucial for investors as consolidated accounts are significant for financial decision-making.

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Snapdeal founder Kunal Bahl says governance scandals have hurt trust in Indian startups

Economic Times

Economic Times · 3m ago

Snapdeal founder Kunal Bahl says governance scandals have hurt trust in Indian startups

Snapdeal cofounder Kunal Bahl highlighted how governance scandals have damaged trust in Indian startups, urging financial discipline from the start. Speaking at a summit, he emphasized early-stage founders should adopt governance practices, prompted by recent high-profile controversies. This scrutiny has led investors to impose stricter clauses and engage in independent audits. Bahl advocates for governance as essential for investor and stakeholder confidence, while anticipating increased private funding and IPO activity by 2025, contingent on good governance practices.

Forensic auditors at startup doors as edgy investors look to fix issues early

Livemint

Livemint · 1y ago

Forensic auditors at startup doors as edgy investors look to fix issues early

Private investors are increasingly hiring forensic auditors to examine the books of portfolio companies at an early stage. This move comes in response to recent failures of high-profile startups that have led to significant losses for investors. By bringing in auditors early, investors aim to detect and address any issues before they escalate and cause irreparable damage. This proactive approach reflects a growing recognition among investors of the importance of forensic audits as a risk management tool. Companies in India are also seeing a rise in regulatory-ordered forensic audits to investigate suspicious financial transactions.

Byju's investors demand EGM to remove founder and family members - StartupNews.fyi

Startup News FYI

Startup News FYI · 1y ago

Byju's investors demand EGM to remove founder and family members - StartupNews.fyi

Investors holding over 30% stake in Byju's are calling for an extraordinary general meeting (EGM) to remove founder and CEO Byju Raveendran and his family members due to alleged mismanagement. The reasons listed in the EGM notice include financial mismanagement, failure to enforce legal rights, and compliance issues. Additionally, there are concerns about unresolved term loans and delayed audits. The investor group is seeking the appointment of an interim CEO and reconfiguration of the board after the removal of the current management.

Times Internet veteran Gautam Sinha floats new AI startup to simplify contract management

Inc42 · 1y ago

Times Internet veteran Gautam Sinha floats new AI startup to simplify contract management

Gautam Sinha, former CEO of Times Internet, has launched SimpleO.ai, an AI-powered startup that aims to simplify contract management for enterprises. Backed by investors including Satyan Gajwani of Times Internet and Sahil Barua of Delhivery, SimpleO uses generative AI to manage contract obligations, risks, audits, compliance, and governance for businesses. Sinha, who spent 15 years at Times Group, believes that simplifying contract lifecycles will contribute to the overall efficiency and success of organizations. This move adds to the growing trend of executives and founders launching new ventures in the Indian startup ecosystem.

Compete or cooperate? Five deep tech investors opt for shared gain over sharp elbows

TechCrunch · 1y ago

Compete or cooperate? Five deep tech investors opt for shared gain over sharp elbows

Venture capitalists in Boston have launched Venx, a collaborative group focusing on deep tech investments. The group consists of five investors from four firms and aims to encourage partnerships and cooperation in the venture capital industry. Inspired by successful startup accelerators, Venx hopes to create a collaborative space where investors can work together and benefit from shared knowledge and access to deals. While currently informal, the group may evolve into a more formalized arrangement, potentially even establishing a shared fund for investments. The collaborative approach of Venx represents an interesting experiment in the venture capital landscape.

How deep tech founders can secure early-stage fundraising in a downturn

TechCrunch · 1y ago

How deep tech founders can secure early-stage fundraising in a downturn

In a challenging funding environment, deep tech founders seeking investment can find it tough to convince investors. Lessons learned from a previous difficult funding period can provide guidance. Instead of overvaluing competition between investors, deep tech founders should focus on the robustness of the deal and nurture relationships with a small group of investors. Additionally, turning deep tech concepts into marketable products and finding customers is a critical challenge. Developing trust and giving early access to investors can help build strong partnerships.

Medtech firm Medikabazaar rejigs top deck as PwC audit spots issues

Economic Times

Economic Times · 1y ago

Medtech firm Medikabazaar rejigs top deck as PwC audit spots issues

Medikabazaar, a B2B startup for medical supplies valued at $650 million, is undergoing a management reshuffle. Co-founder and CEO Vivek Tiwari will transition to a board role, and the company is also undergoing an audit by PwC, reportedly finding discrepancies in revenue recognition. Medikabazaar's board is in the process of finalising a new CEO and has strengthened internal control mechanisms. The company has raised close to $200 million since its inception in 2014 and is backed by investors including Creaegis, CDC Group, and Lighthouse. Several B2B startups have faced audits and management changes lately, leading to increased scrutiny in the industry.

Lab-grown diamond jeweller Limelight raises funding, plans IPO

VCCircle

VCCircle · 6m ago

Lab-grown diamond jeweller Limelight raises funding, plans IPO

Lab-grown diamond jewellery brand Limelight Lab Grown Diamonds Ltd, backed by Emerald Group, has secured $11 million in funding from various investors. The recent capital raise involves fund houses, broking firms, family offices, and the company's promoters. This financial boost is intended to support Limelight's plans for going public with an initial public offering (IPO), reflecting its growth ambitions and strengthening its market presence in the lab-grown diamond sector.

NCLT directs BYJU’S to put rights issue fund in escrow account

Inshorts · 1y ago

NCLT directs BYJU’S to put rights issue fund in escrow account

The National Company Law Tribunal directed that the funds received by BYJU'S with respect to the rights issue should be placed in a separate escrow account. These funds are not to be withdrawn until the disposal of the oppression and mismanagement suit filed by a group of four investors of BYJU'S against the management of the company, the order noted.

SIP or stop? What smart investors should do in 2025’s market volatility

Economic Times

Economic Times · 3d ago

SIP or stop? What smart investors should do in 2025’s market volatility

Investors should continue with their Systematic Investment Plans (SIPs) despite market volatility, advises Chirag Muni from Anand Rathi Wealth. India's long-term economic fundamentals are strong, and SIPs benefit from rupee cost averaging, potentially yielding favorable returns even in downturns. Timing the market is challenging, so starting SIPs whenever possible is recommended. Step-up SIPs, increasing the investment annually, can significantly enhance future wealth. Regular portfolio reviews and rebalancing based on market performance are also crucial.

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