 "Illustration: Ajay Mohanty")
A company with multiple successful brands and significant exports had an interesting disclosure as part of the company’s financials. The general contractor of store construction for the company was owned by the chief executive officer’s brother. In another instance, the chief executive officer of another listed company sponsored television programmes and art shows where his friends and relatives were the main beneficiaries.
The value of transactions with the potential for such conflicts, past examples of which are given above, exceeded Rs 2.8 trillion in 2018-19 (FY19), based on 31 companies analysed from the S&P BSE 100 index. The latest figure
