Bribery for Fund Raise
I want to caution fellow entrepreneurs who are currently approaching Indian corporates or multinationals in India for fund raise.
A close friend recently was in discussions with a large multinational's Indian arm. After about 3 rounds of discussions over 6 month period, the senior executive who was leading discussion from other side started demand a sizable percent as his commission in cash?
The whole process not just kept him distracted but left a very bad taste in the end when he disagreed to pay funding commission at the end. The exec found a reason to let the file sit and not process it.
Entrepreneur must be cautious in the process of capital raise. Spending time with wrong parties can drive your startup to ground. more
A close friend recently was in discussions with a large multinational's Indian arm. After about 3 rounds of discussions over 6 month period, the senior executive who was leading discussion from other side started demand a sizable percent as his commission in cash?
The whole process not just kept him distracted but left a very bad taste in the end when he disagreed to pay funding commission at the end. The exec found a reason to let the file sit and not process it.
Entrepreneur must be cautious in the process of capital raise. Spending time with wrong parties can drive your startup to ground. more
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Corruption is a norm today and those who ask for such kickbacks are shamelessly say today’s rate is x% and my rate is way below that so you can be happy. Though many don’t want to give bribes circumstances compel one to give. more
Feb 02
Your friend should log an anonymous complaint on the mnc's anti bribery hotline. This is repulsive Get Outlook for Android ________________________________ From: Gaurav Shrivastava Sent: Tuesday, January 30, 2018 5:21:22 AM To: deepakjo@hotmail.com Subject: "Bribery for Fund Raise" more
Jan 31
Great news - You no MP Laud funds there is 30% flow back to the MP - It is no surprise - For Insurance Premium there should be Flow back for large premiums. Keep up my Mother land and my great Country men. more
Jan 30
The issue raised by Sh Gaurav Shrivastava is to bring out the fact that there is Corruption in Multinational companies too. General public believe that the Govt official and staff are corrupt and demand favours for processing a case. Wherever as it applies to officials in Multinational companies too. In some cases, in private sector, even the top management may be party to such demand. Let us understand the difference between official Service charge payable though accountable money and Cash demanded for processing the loan application. The Service Charge is the cost of processing the loan application borne by a financial institution. It is justified. However, demanding cash is an illegal act and such to be treated as such. more
Jan 30
