• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, July 18, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

Japanese conglomerate SoftBank Group Denies Charges of Executives Receiving Kickbacks for India Investments

by Chinmay Bidkar
May 19, 2017
in News
Reading Time: 2 mins read
0
softbank executives receiving kickbacks
TwitterWhatsappLinkedin

You might also like

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

19 May 2017, India:

Japanese conglomerate SoftBank Group has denied the allegations that two executives of the company received kickbacks in connection with the company’s India investments. It started about a year ago when an anonymous investor group represented by a New York-based law firm accused SoftBank’s then president and COO Nikesh Arora of poor business decisions and a series of questionable transactions at e-tailer Snapdeal and property listing portal Housing.com, among other firms as per the report by VCCircle.

Alok Sama, SoftBank president and CFO of its international arm and former president Nikesh Arora received kickbacks in connection to its India investments reported Wall Street Journal. The company announced last week it had taken a loss on $1.4 billion on investments, largely in Indian startups. In March, a complaint was submitted to an Indian financial regulator purporting to identify financial malfeasance in those deals, including that current or former SoftBank executives received kickbacks connected with the investments.

It isn’t known whether Indian authorities have decided to pursue any formal investigation. SoftBank has denied all the allegations.

Related read- Ola Restricts SoftBank Rights By Strengthening its Founders’!

“We are aware that certain individuals are waging a malicious smear campaign against Softbank and its senior executives through a series of defamatory letters. These submissions are based on falsehoods and innuendo, littered with inaccuracies and are a blatant attempt to damage SoftBank’s reputation and that of its respected executives. SoftBank has investigated the matters raised in these letters comprehensively and with the help of counsel, and found these so called allegations to be baseless and entirely without merit,” a SoftBank spokesperson said in an emailed statement.

“A certain individual in Switzerland, Nicholas Giannakopoulos, claiming to be a shareholder of SoftBank, appears to be fronting this campaign. While SoftBank has the deepest respect for the rights of shareholders to raise legitimate concerns, we will not allow ourselves or our executives to be victims of a shameless intimidation scheme. Accordingly, SoftBank has filed a criminal complaint against this individual with the Public Prosecutor’s Office in Geneva on December 23, 2016, and we will not hesitate to take further action to protect its interests,” the spokesperson said.

Meanwhile, SoftBank is all set to raise fresh funds just after infusing $1.4 billion in Paytm. Japan-based Sharp Corp. is all set to invest $1 billion in the planned $100 billion technology ‘Vision’ Fund. (Image- Softbank)

Also read- Paytm Raises $1.4B Funding From Softbank

Tags: Alok SamafundingInvestmentMasayoshi SonNikhil AroraSoftbank
Tweet54SendShare15
Previous Post

DesignGild Announces Accelerator Programme with Two Startups QtPi & RxHealth

Next Post

Acer India Hires Rajeev Chandrashekar as Director of Consumer Products

Chinmay Bidkar

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to write about it! Reach out at- [email protected]

Recommended For You

Zuckerberg, Meta Directors Settle $8 Billion Privacy Trial

by Anochie Esther
July 18, 2025
0
Zuckerberg

In a sudden twist that ended what could have been a landmark courtroom showdown, Meta Platforms CEO Mark Zuckerberg and several current and former directors reached a settlement...

Read more

Samsung Chairman Jay Y. Lee Cleared in 2015 Merger Case

by Anochie Esther
July 18, 2025
0
Lee

In a pivotal ruling that removes a significant legal overhang, South Korea’s Supreme Court on July 17 cleared Samsung Electronics Chairman Jay Y. Lee of all charges related...

Read more

Microsoft Salaries Revealed, AI Teams Earning More Than Ever Amid Strategic Shift

by Anochie Esther
July 18, 2025
0
Microsoft

Amid significant layoffs and an aggressive pivot to artificial intelligence, Microsoft finds itself under the spotlight once again this time not for job cuts or corporate strategy, but...

Read more
Next Post
Rajeev Chandrashekar acer

Acer India Hires Rajeev Chandrashekar as Director of Consumer Products

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple Artificial Intelligence bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?