Overview

• In a virtual AGM, investor Abhishek Kalra launched a profanity-laced tirade at managing director Krishna Gopal Gupta, and video of the exchange spread widely online.
• Accounts of Kalra’s holding conflict, with LiveMint and Hindustan Times reporting he had one share while India Today reported he said he owned 1%.
• During the exchange, management repeatedly asked him to maintain decorum, then queried his stake and moved on after the disclosure that he held a single share.
• Kalra alleged promoter-led diversion of resources to unprofitable UAE and US ventures, accused the company of nepotism, and criticized its profitability versus peers.
• News reports note the stock has fallen 32.27% over the past year and 18.38% year to date, and Vijay Kedia condemned the language but said shareholder money must be respected.