MC Insider: Independence of independent director in doubt, HDFC twins merger kicks off wedding season, big bank eyes small bank, and more

MC Insider: Independence of independent director in doubt, HDFC twins merger kicks off wedding season, big bank eyes small bank, and more

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power











Last Updated: April 11, 2022 / 08:33 AM IST



NOT SO INDEPENDENT AFTER ALL?



This startup founder's move to buy out a struggling startup founded by his sibling raised eyebrows in the ecosystem, prompting questions on the role of the board. While some investors expressed their concerns to the founder repeatedly, he apparently refused to budge. Turns out one of the board members, supposedly an independent director who backed the founder, was given a considerable amount of stock options in the firm. Independent or conflicted?





HDFC AFTERMATH



The mega merger between HDFC and HDFC Bank has the set the ball rolling for more such corporate marriages. Consolidation is suddenly the buzzword in corporate India. If HDFC and HDFC Bank could do it — after several years of speculation — why not others? We hear that a merger between two midcap IT companies held by a leading corporate house is in the works. Watch out for more such deals in the coming months.





MERGER