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Markets regulator SEBI has imposed a penalty of Rs 3 crore on five entities, including former promoters, in the case of <keyword id="9320523" type="UNKNOWN" weightage="20" keywordseo="alleged-insider-trading">alleged insider trading</keyword> in the shares of erstwhile <keyword id="122725" type="COMPANY" weightage="20" keywordseo="Bank-of-Rajasthan">Bank of Rajasthan</keyword>. Bank of Rajasthan (BoR) is now merged with ICICI Bank. The penalty has been imposed on <keyword id="9320524" type="UNKNOWN" weightage="20" keywordseo="rohit-premkumar-gupta">Rohit Premkumar Gupta</keyword>, Navin Kumar Tayal, Jyotika Sanjay Tayal, Advik Textiles &amp; Realpro Pvt Ltd and Kulwinder Kumar Nayyar, and the amount needs to be paid jointly and severally by them, the regulator said in an order. Tayals were dominant shareholders of BoR at that time. To check possible violation of insider trading norms, the regulator had conducted an investigation into the movement of BoR shares between May 7, 2010, and May 18, 2010. This period, which was prior to the announcement of an agreement between the dominant shareholders of <keyword id="9320522" type="COMPANY" weightage="20" keywordseo="bor-and-icici-bank-ltd">BoR and ICICI Bank Ltd</keyword> for a merger, witnessed considerable price and volume movement. During the probe, Sebi found that Gupta had traded in the shares of BoR on the basis of unpublished price-sensitive information with regard to negotiation of merger between BoR and ICICI Bank. It, further, said Gupta was funded by Advik Textiles, an entity controlled by Tayals, for indulging in insider trading in connivance with the others. Besides, the regulator noted Nayyar was the directors of Advik Textiles at the relevant point in time. Apart from this, he had been acting as director in various companies connected or related to the Tayals. The regulator noted that Advik Textiles and the Tayals were all connected. "Rohit (Gupta) dealt in the scrip of BoR while in the possession of and on the basis of UPSI in connivance with noticee no. 2 Sanjay, noticee no. 3, Navin and noticee no. 4 Jyotika," Sebi said in the order issued on Friday. "Rohit (Gupta) was able to indulge in the insider trading in the shares of BoR also because of the funds it received through noticee no. 5 Advik," it added. By indulging in such activities, they violated the provisions of insider trading norms, <keyword id="9320521" type="COMPANY" weightage="20" keywordseo="the-securities-and-exchanges-board-of-india">the Securities and Exchanges Board of India</keyword> (Sebi) said. The proceedings against Sanjay Tayal has been disposed of as he passed away in October 2018. Earlier, in the same case, the regulator in November 2017 barred these entities from the securities market for five years and directed them to disgorge illegal gains worth over Rs 95 lakh. SEE ALSO: <a href="https://www.businessinsider.in/india/news/goa-government-issues-advisory-for-gradual-relaxations-from-june-8-in-the-covid-19-lockdown-norms/articleshow/76116529.cms" data-type="tilCustomLink">Goa issues advisory for gradual relaxations in lockdown norms from June 8</a> <a href="https://www.businessinsider.in/science/news/spacex-just-launched-its-historic-mission-to-fly-nasa-astronauts-to-space/articleshow/76114304.cms" data-type="tilCustomLink">MUSK MAKES HISTORY: SpaceX just launched 2 people into orbit for the first time, kicking off the rocket company's most important mission since its founding 18 years ago</a>

SEBI slaps ₹3 crore fine on 5 entities in Bank of Rajasthan insider trading case

<ul><li>SPN has announced key transitions in its senior leadership team.</li><li><keyword id="192573" type="PERSON" weightage="20" keywordseo="Rohit-Gupta">Rohit Gupta</keyword> has transitioned from his role as Chief Revenue Officer – Ad Sales and International Business and taken on the responsibility of being SPN’s Advisor to the Management and the Board.</li><li><keyword id="1554863" type="PERSON" weightage="20" keywordseo="Rajesh-Kaul">Rajesh Kaul</keyword>, in addition to his existing role as the Chief Revenue Officer – Distribution and Business Head – Sports, will take on charge of International Sales. Sandeep Mehrotra has been appointed Head - Ad Sales, Network Channels.</li><li>Danish Khan, Business Head – <keyword id="17942" type="COMPANY" weightage="20" keywordseo="Sony-Entertainment-Television">Sony Entertainment Television</keyword>, Digital Business and <keyword id="6983273" type="UNKNOWN" weightage="20" keywordseo="StudioNEXT">StudioNext</keyword> will take additional charge of Network Channels Licensing.</li></ul><keyword id="3186877" type="PERSON" weightage="20" keywordseo="Sony-Pictures-Networks-India">Sony Pictures Networks India</keyword> has revamped its organizational structure, making several leadership changes. These changes are effective immediately. Rohit Gupta has transitioned from his role as Chief Revenue Officer – Ad Sales and International Business and taken on the responsibility of being SPN’s Advisor to the Management and the Board. Rohit’s efforts have contributed immeasurably to the organization over the last two decades, and we thank him for his tremendous contributions to the growth of our network. In this new role, Rohit will be advising senior management on industry trends, developments and work closely with the CEO on various industry issues that could positively impact the company’s strategy and growth. Rajesh Kaul, in addition to his existing role as the Chief Revenue Officer – Distribution and Business Head – Sports, will take on charge of International Sales and will work in-collaboration with the Digital team to expand SPN’s brand presence and reach across the world. Neeraj Arora, currently heading International Sales will now be reporting directly to Rajesh Kaul. Sandeep Mehrotra has been appointed Head - Ad Sales, Network Channels. With an illustrious career, spanning over two and a half decades, Sandeep has a proven record in driving revenues and delivering efficiencies to clients and businesses. Within SPN, he has moved multiple channels, regions and ranks and has invested his time in curating long-term client relationships with a unifocal thought of creating business solutions. In his new role, Sandeep will directly report to the CEO. Danish Khan, Business Head – Sony Entertainment Television, Digital Business and StudioNext will take additional charge of Network Channels Licensing. This alignment will enable an end-to-end view of opportunities at play between channels and digital and thereby enable us in taking decisions, best suited for the network’s growth. <keyword id="11723990" type="UNKNOWN" weightage="20" keywordseo="tushar-shah-business-head">Tushar Shah, Business Head</keyword>, English, Factual Entertainment &amp; Sony AATH, takes on an additional role of the newly created position of Chief Marketing Officer (CMO) for SPN. His expanded role will include taking the corporate brand to the consumer and furthering its reach besides managing his existing channel portfolio. Aditya Mehta, in addition to his current role of Corporate Strategy and Business Development, will spearhead the formation of Data Analytics CoE to strengthen SPN’s approach to being a data driven organization. He would also be responsible for Business Monetization which will leverage the power of data and act as a bridge between Digital &amp; Linear revenue opportunities. Nitin Nadkarni, Chief Finance Officer (CFO) will take additional charge of the Broadcast Operations and Network Engineering (B.O.N.E) department. Kingshuk Bhattacharya - Head, B.O.N.E. will now report to Nitin. Commenting on the revamp, <keyword id="305969" type="PERSON" weightage="20" keywordseo="NP-Singh">NP Singh</keyword>, MD &amp; CEO, SPN said, “SPN has embarked on Vision 3.0 to create a future-ready organization based on a culture powered by corporate values and a management structure backed by an operating model that accelerates growth. All leadership changes announced today are reflective of that evolutionary intent.” Manu Wadhwa, CHRO at SPN added, “The organization remodeling is a result of our constant focus to strengthen our talent and leadership capabilities and will ensure that we stay ahead of the curve in a dynamic media and entertainment industry.”

Sony Pictures Networks India revamps organizational structure, announces key leadership changes

New Delhi, Oct 10 (IANS) The Reserve Bank's accommodative policy along with a likely US stimulus package are expected to strengthen the Indian rupee in the short-run. Additionally, fund inflows channelled towards stock markets and corporate deals will be other factors for the rise in the rupee's value, cited analysts. However, the upcoming US elections along with domestic macroeconomic inflation data might dampen sentiments. "The policy outcome had a knee-jerk reaction on the USDINR spot and dropped close to the strong support zone of 73. With the optimism over the US fiscal stimulus deal, we expect a corrective leg towards 72.75 zones in the USDINR spot," said Rahul Gupta, Head of Research-Currency at Emkay Global Financial Services. "However, the downside is limited as we head towards the US election and that there could be plenty of political uncertainties down the road. So for next week, we expect the USDINR spot to trade within 72.75-73.50 levels." Last Friday, the Reserve Bank made an expected move by retaining key lending rates, but cheered investors and home buyers by giving a liquidity boost and an optimistic outlook. The RBI said it will resort to on-tap long-term repo operations and open market bond purchases to ensure liquidity in the banking system. It has also eased capital requirements on home loans to spur lending to the real estate sector. "The aggressive accommodative policy of the Central bank supported bond and rupee. The weakness in dollar index, stronger domestic equities and foreign fund inflows altogether backed rupee gains," said Devarsh Vakil -- Deputy Head of Retail Research at HDFC Securities. "For next week US fiscal stimulus negotiations and opinion polls of the US presidential election will drive the currency markets. Spot USDINR is having resistance at 74 and support at 72.90 for the next week." The Indian rupee had ended the week on a flat note at 73.13 to a US dollar. Besides, the macroeconomic data point of the Consumer Price Index (CPI) for September will be released on October 12. According to Sajal Gupta, Head, Forex and Rates, Edelweiss Securities: "Liquidity and hope of a stimulus along with inflow of Reliance Retail money bodes well for the currency markets." "With RBI promising to maintain lower yields would also be helpful for both equity, forex and bond markets. Expect all the three asset classes to behave positively in the next few weeks. Rupee should now move towards 72." (Rohit Vaid can be contacted at rohit.v@ians.in) --IANS rv/sn/dpb

RBI's accommodative policy, US stimulus hopes to strengthen rupee (IANS Rupee Forecast)

Even as the reputation of the <keyword id="6354831" type="ORGANIZATION" weightage="100" keywordseo="Indian-Premier-League">Indian Premier League</keyword> (<keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword>) has been marred by controversies, they surely haven’t been able to dent its value as an advertising property. 
 
As per latest reports, this season of IPL would see advertisers spending a record Rs 1,200 crore. This figure has gone up by a fifth from last year. 
 
Sony Pictures Network hold the exclusive broadcast rights, and will be airing the tournament on the Set Max, Sony Six and Sony ESPN channels in April and May. For the first time, the number of presenting sponsors has been increased from two to three. These names are Vodafone, Amazon and the first-time advertiser Oppo. 
 
As already told, after Pepsi’s exit, rival Coca-Cola is looking at the opportunity of <a href="http://www.businessinsider.in/After-Pepsis-exit-Coca-Cola-knocks-IPL-doors-for-sponsorship/articleshow/50756202.cms">being a sponsor</a>. 
 
Even though the tournament is two months away, almost 70% of the ad inventory has been sold, a first for IPL, as told by Sony Pictures Network president Rohit Gupta. 
 
"IPL is a risk-free investment for advertisers, as both ratings and reach have been consistently growing year on year," he said. "We are expecting 20% growth in overall revenues. The unprecedented levels of interest are despite the T20 World Cup and a host of other cricket." 
In the last season of IPL, ad sales fetched Sony Pictures Network Rs 1,000 crore. To take in more profits, sponsorship slots have risen to Rs 
5.25 lakh from Rs 4.75 lakh, while spot rates are up to Rs 1.5 lakh for 10-second slots from Rs 1 lakh. 
 
<a href="http://www.tehelka.com/wp-content/uploads/2015/12/IPL-logo.jpg">Image source</a>

Sponsorship slots and spot rates take a leap for the upcoming season of IPL

This <keyword id="6354312" type="CITY" weightage="20" keywordseo="IPL">IPL</keyword> season is going to belong to mobile handset makers, who will hog the most airtime during the matches on official broadcaster Sony. Mobile brands like Oppo, Vivo, Lava, Micromax and LYF are not only going to advertise a lot during the T20 league matches, but are also sponsors of six out of the eight playing teams. Other than this, another brand Intex also owns a team. 
 
Oppo has signed up as the presenting sponsor this year, which means that it would take 240 seconds per match, the highest ever time slot in the IPL. Similarly, the other two presenting sponsors -Vodafone and Amazon - have taken 210 seconds per match. 
 
Like this year’s mobile brands, the last season of the IPL belonged to the ecommerce majors like Flipkart, Snapdeal, Amazon, CarDekho, Car-Trade, Paytm, Shopclues and Myntra, who brought around 23% of the total ad revenues for the broadcaster. 
 
"This year, the handset category is making up around 20% of our advertising revenues, the highest among all categories," says Rohit Gupta, president of Sony Pictures Networks. 
 
The reason why smartphone makers have overtook e-commerce companies is that the losses of some of the leading ecommerce players grew significantly over the past one year, forcing most of them to cut down on advertising costs. 
 
As per media planners, this IPL would give Sony around Rs 1,200 crore from sponsorship and advertising, as compared to just under Rs 1,000 crore in the last season of IPL. 
 
<a href="http://www.iplt20livecricket.com/wp-content/uploads/2016/03/IPL-2016-1.jpg">Image source</a>

Mobile handset makers to pay Sony around 20% of IPL ad revenue

<ul><li><keyword id="6377547" type="General" weightage="20" keywordseo="adidas" source="Orion">adidas</keyword> has roped in <keyword id="1407499" type="General" weightage="20" keywordseo="sandesh-jhingan" source="Orion">Sandesh Jhingan</keyword>, Indian Men’s Football Vice captain who will work closely with the brand in engaging and inspiring the youth to take the game to the next level.</li><li>In India, Sandesh joins the likes of <keyword id="13937" type="General" weightage="20" keywordseo="rohit-sharma" source="Orion">Rohit Sharma</keyword>, Mirabai Chanu, <keyword id="4624311" type="General" weightage="20" keywordseo="lovlina-borgohain" source="Orion">Lovlina Borgohain</keyword>, Manpreet Singh, <keyword id="1406187" type="General" weightage="20" keywordseo="simranjit-kaur" source="Orion">Simranjit Kaur</keyword>, Nikhat Zareen, Jeremy Lalrinnunga.</li></ul>Sportswear brand adidas has roped in Sandesh Jhingan, Indian Men’s Football Vice captain who will work closely with the brand in engaging and inspiring the youth to take the game to the next level. A recipient of AIFF’s ‘Emerging Player of the Year’ in 2014, Sandesh was named ‘Men’s Player of the Year’ in 2020-2021. He is also the recipient of the prestigious Arjuna Awards in 2020 for his outstanding achievement in football. An ardent fan of Manchester United, Sandesh will now join the brand’s elite pool of athletes which includes the likes of <keyword id="704" type="General" weightage="20" keywordseo="lionel-messi" source="Orion">Lionel Messi</keyword>, <keyword id="4722585" type="General" weightage="20" keywordseo="mo-salah" source="Orion">Mo Salah</keyword>, <keyword id="849887" type="General" weightage="20" keywordseo="paul-pogba" source="Orion">Paul Pogba</keyword>, <keyword id="2819664" type="General" weightage="20" keywordseo="paulo-dybala" source="Orion">Paulo Dybala</keyword> to name a few. adidas also partners with some of the leading football clubs in the world including Manchester United, Arsenal, Real Madrid, Juventus, and Bayern Munich, which define the brand’s commitment to football. In India, Sandesh joins the likes of Rohit Sharma, Mirabai Chanu, Lovlina Borgohain, Manpreet Singh, Simranjit Kaur, Nikhat Zareen, Jeremy Lalrinnunga who wear and sport the 3-Stripes with pride at The Arena, adidas head office in Gurgaon. This signing further strengthens adidas’ year long association with football while also diversifying its rich athlete roaster. Speaking about the partnership, <keyword id="168719" type="General" weightage="20" keywordseo="sunil-gupta" source="Orion">Sunil Gupta</keyword>, Senior Director, Brand adidas, India, said, "Sandesh is a role model for many young footballers and a perfect combination of passion and talent. With this partnership we aim to inspire the youth and work towards a common goal of building football from the grassroot level in India. We are thrilled to have Sandesh join the adidas family.” Excited about his relationship with adidas, Sandesh Jhingan said, “My journey with football has been very enriching, and I aspire to make it a far bigger sport in India than it is today. I am thrilled to be a part of the adidas family, and I feel this association will take me closer to my dream of seeing India develop greater passion for football and gain a spot in the 2026 FIFA World Cup. I feel adidas gets my passion and love for football like no other, given its long-standing relationship with the sport.”

adidas signs an endorsement contract with  Indian footballer Sandesh Jhingan to inspire young football players

New Delhi, Jan 20 () The Advertisement Standards Council of India (ASCI) on Monday announced to introduce guidelines for usage of claims of awards and rankings by the companies in their respective advertisements.
Now, brands and services need to ensure that the accrediting bodies involved in disseminating or presenting awards or rankings are authentic and credible, while validating their claims in advertisements.
The new guidelines, which would be effective from February 1, 2020, aim to curb the "superiority claims" in advertising for the products and services based on awards and rankings received, which "sometimes misled into believing" by the consumers, the ad regulator said in a statement.
 "The guidelines will lend assistance to advertisers for appropriate and correct usage of reference to awards or rankings in advertising; to ensure that their claims are not misleading," said the ASCI.
It further said: "The guidelines will also assist the advertiser to understand the rigour required for claim substantiation and pitfalls to avoid so that their claims pass the muster with ASCI's Consumer Complaints Council (CCC)."
The guidelines are applicable to all advertisers and would particularly be relevant for healthcare services and the educational sector which tend to use such superiority or leadership claims, it said.
Prospective students and parents easily fall prey to awards/ranking claims by institutes and coaching classes as they rely blindly on such claims, the ASCI added.
"A wrong choice directly impacts the quality of education and future of children as well as, has a financial implication. In the health services sector, misleading claims about rankings and awards lure patients in choosing the service provider and could hamper patient health, quality of care received and result into financial losses.
Commenting on the development, ASCI Chairman Rohit Gupta said:"Claims such as ranking first in the state or in India, receiving an award for being the most trusted or award of excellence, listed in some book of world records etc. makes consumers believe that the product/service is recognized and trustworthy, whereas in some cases this may not be true.
"The guidelines are a step towards ensuring that advertisers are cognizant of the serious impact of deceptive advertising and hence make responsible claims when referring to awards and rankings in their advertisements," he added. KRH MKJ

ASCI announces new code for brands to claim awards, rankings in ads

If there is one player that wins in every match that is played in the Indian Premier League, it’s the official broadcaster <keyword id="6411012" type="COMPANY" weightage="100" keywordseo="Sony-Pictures">Sony Pictures</keyword> Networks India. 
 
This year as well, the channel is all set to win big in terms of advertising revenue, with a target of Rs 1,300 crore in advertising revenues from this year's Indian Premier League, as against Rs 1,100 crore that it earned in the last season. 
 
Also read: <a href="http://www.businessinsider.in/This-is-what-IPL-teams-would-have-been-called-if-they-were-named-honestly/articleshow/51825365.cms">This is what IPL teams would have been called if they were named honestly</a> 
 
Sony is close to achieving this target, having signed three more associate sponsors - Voltas, Havells and MakeMyTrip, making the total number of sponsors to 12, so far, with Vivo, Vodafone, Amazon as co-presenting sponsors and CEAT Tyres, Vimal Pan Masala, Yamaha Motors, Parle Agro's Frooti, Yes Bank and Polycab as associate sponsors. 
 
Also read: <a href="http://www.businessinsider.in/meet-mohammed-siraj-hyderabad-auto-drivers-son-bought-by-sunrisers-hyderabad-for-rs-2-6-crore-in-ipl-auction/articleshow/57267925.cms">Meet Mohammed Siraj, Hyderabad auto driver's son, bought by Sunrisers Hyderabad for Rs 2.6 crore in IPL auction</a> 
 
"We have locked in 12 sponsors now and talks with a couple of categories like payment gateways, auto and FMCGs are still going on," Rohit Gupta, president of network sales and international business at Sony Pictures Networks (SPN), told ET. "We have also got Reliance Jio and Oppo as large spot buyers, committing for more spots than even the associate sponsors. Between sponsors and spot buyers, we have 75% of the inventory already sold," he continued. 
 Last year, SPN had sold the entire advertising inventory even before <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> began; however, this time at least 15-20% of the available spots will be kept aside to be used later. Another change in this year’s strategy would be an increase in the price, taking it to Rs 6,25,000 per 10 seconds from the earlier Rs 6 lakh. 
 
Also read: <a href="http://www.businessinsider.in/ipl-2017-msdhoni-is-no-more-the-captain-of-rising-punesupergiants-heres-who-replaced-him/articleshow/57234303.cms">IPL 2017: MS Dhoni is no more the captain of Rising Pune Supergiants. Here’s who replaced him</a> 
 
Sony has been officially broadcasting IPL since its inception in 2008, and this is the last year of the 10-year rights cycle. 
 
(Image source: Wikimedia)

Sony set to ‘win’ in all matches this IPL; aims for Rs 1,300 crore advertisement revenue

Former Vodafone chief executive <keyword id="292871" type="PERSON" weightage="100" keywordseo="Arun-Sarin">Arun Sarin</keyword> could have picked any major Indian corporate boards to be a part of. After all, the 61-year-old, who is on board of corporate mammoths like Cisco, Charles Schwab and Blackhawk Networks, and has in the past worked as a senior adviser to global asset manager KKR &amp; Co. However, he chose two <keyword id="982553" type="UNKNOWN" weightage="100" keywordseo="Indian-startups">Indian startups</keyword>, and would now mentor taxi-hailing app <keyword id="6354720" type="PERSON" weightage="100" keywordseo="Ola">Ola</keyword> and music-streaming company <keyword id="2060236" type="UNKNOWN" weightage="100" keywordseo="Saavn">Saavn</keyword>. 
 
Sarin is not only signed on as an adviser for these two companies, but has also invested undisclosed amounts in them. 
 
"It's a huge trend. Everybody wants to be associated with a startup at this point, especially those that are changing the rules," Sunit Mehra, managing partner of Hunt Partners India, which is an executive search firm, told ET. 
 
In the recent past, leading Indian startups like Flipkart, Paytm, Snapdeal and Urban Ladder have attracted big names from the corporate sector and have succeeded. They now have big names that advise and mentor them, and continue to raise billions of dollars in funding. 
 
Snapdeal founders, Kunal Bahl and Rohit Bansal, have Akhil Gupta, who is the VC of Bharti Enterprises and executive chairman of Bharti Infratel. Similarly, Paytm, led by Vijay Shekhar Sharma recently added Neeraj Arora, WhatsApp's global business head, and Ruchi Sanghvi, former VP (Operations) at Dropbox, into its board. 
 
However, for many startup founders, it’s not only about adding glittering names to the board, but also about the connections and advices on strategy that these names carry with themselves. 
 
Decades of managerial and troubleshooting experience comes handy for startup founders, who get benefit while entering new categories and geographies and managing cash and investor relations. 
 
<a href="http://i.idnes.cz/06/112/org/LHC171655_Vodafone_Arun_Sarin_03.jpg">Image source</a>

Ex-Vodafone CEO Arun Sarin to now mentor Ola and Saavn

Nothing seems to be going well between the board members of <keyword id="6481662" type="COMPANY" weightage="20" keywordseo="Jasper-Infotech">Jasper Infotech</keyword>, which owns <a href="http://www.businessinsider.in/searchresult.cms?query=snapdeal&amp;sortorder=effectivedate">Snapdeal</a>. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=kalaari+capital&amp;sortorder=effectivedate">Kalaari Capital</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=nexus+venture+partners&amp;sortorder=effectivedate">Nexus Venture Partners</a> are at loggerheads with Japanese investor <a href="http://www.businessinsider.in/searchresult.cms?query=softbank&amp;sortorder=effectivedate">SoftBank</a>, which has now cancelled a $150-200 million debt financing offer to <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>. 
 As per various reports, <keyword id="163404" type="COMPANY" weightage="100" keywordseo="Softbank">SoftBank</keyword> is now interested in either merger or sell out of Snapdeal without any involvement of the other investors. ET reported SoftBank has been talking to several people for the deal without keeping <keyword id="1397792" type="UNKNOWN" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword> and <keyword id="175881" type="COMPANY" weightage="20" keywordseo="Nexus-Venture-Partners">Nexus Venture Partners</keyword> in loop. 
 
"Both Kalaari Capital and Nexus Venture Partners are livid at the developments, and have questioned SoftBank about its intention with regard to Snapdeal,” ET quoted one of its sources as saying. 
 
"There was a term-sheet offering Snapdeal debt financing for a period of three years, which was, inexplicably, withdrawn within days, giving credence that Soft-Bank has made up its mind about selling the company,” a second person told ET. 
 SoftBank has seats at the table, while Kalaari and Nexus have one each on Jasper’s board that includes cofounders <keyword id="219793" type="PERSON" weightage="20" keywordseo="Kunal-Bahl">Kunal Bahl</keyword> and <keyword id="396598" type="PERSON" weightage="20" keywordseo="Rohit-Bansal">Rohit Bansal</keyword>, and Bharti Enterprises vice-chairman Akhil Gupta as an independent director. 
 
Apparently, the differences within the board are not new. In December, SoftBank had offered a direct $50-million monthly injection in Snapdeal, contingent on a potential merger or sale of the company. Kalaari and Nexus Venture Partners disagreed with the terms. 
 
SoftBank's stake in Jasper stood at about 33% while Kalaari Capital and Nexus Venture Partners owned about 8% and 10%, respectively. Both the founders, combined, owned about 6.5% of the company, which at its peak early last year was valued at about $6.5 billion. 
 
As per Reuters, SoftBank has reached out to <a href="http://www.businessinsider.in/searchresult.cms?query=flipkart&amp;sortorder=effectivedate">Flipkart </a>to sell Snapdeal.

You Searched For "Rohit Gupta" and got 10 results

SEBI slaps ₹3 crore fine on 5 entities in Bank of Rajasthan insider trading case

PTI

Sony Pictures Networks India revamps organizational structure, announces key leadership changes

BI India Partner

RBI's accommodative policy, US stimulus hopes to strengthen rupee (IANS Rupee Forecast)

IANS

Sponsorship slots and spot rates take a leap for the upcoming season of IPL

BI India Bureau

Mobile handset makers to pay Sony around 20% of IPL ad revenue

BI India Bureau

adidas signs an endorsement contract with Indian footballer Sandesh Jhingan to inspire young football players

BI India Partner

ASCI announces new code for brands to claim awards, rankings in ads

PTI

Sony set to ‘win’ in all matches this IPL; aims for Rs 1,300 crore advertisement revenue

BI India Bureau

Ex-Vodafone CEO Arun Sarin to now mentor Ola and Saavn

BI India Bureau

Snapdeal’s investors cross swords; SoftBank cancels $150-200 million debt financing

BI India Bureau

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