According to the reports published in the leading Indian News papers, enforcement agency which investigates foreign-exchange violations, is examining why the Silicon Valley venture firm bought shares of a health care start-up at a premium from a company allegedly controlled by Karti P. Chidambaram, the son of former Finance Minister P. Chidambaram.<\/p>\n
As per the agencies, baffling price was paid by Seqouia is incongruent with what its own auditors, Suresh and Company, estimated. They said the value of a Vasan share was Rs.<\/span> 110, but just over a week later, the venture capital firm picked up those same shares for a massive premium.<\/p>\n These shares of Vasan Healthcare, sold to Sequoia for INR 7500 per unit, were allegedly acquired at a fairly low price. It is alleged that Advantage Strategic Consulting Services had acquired 1.5 lakh shares of Vasan Healthcare at throwaway price of close to INR 100 per unit.<\/p>\n With the huge profits it made, the company indirectly owned by Karti Chidambaram, Advantage Strategic Consulting Services, then sent its Singapore branch on a global shopping spree.<\/p>\n","protected":false},"excerpt":{"rendered":" According to the reports published in the leading Indian News papers, enforcement agency which investigates foreign-exchange violations, is examining why the Silicon Valley venture firm bought shares of a health care start-up at a premium from a company allegedly controlled by Karti P. Chidambaram, the son of former Finance Minister P. Chidambaram. As per the agencies, […]<\/p>\n","protected":false},"author":20,"featured_media":12108,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":{"0":"post-8558","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-antifraud-news"},"yoast_head":"\n