ValueFirst Digital Media did the largest purchase of a sms sending portal i.e way2sms by paying Rs 150 Crore for the database. It is worthwhile to mention that way2sms had recently acquired 160by2.
Have a look at classic case of breach of trust where an individual kept his personal interest above his own organisational interest.
ValueFirst Digital Media has filed a case against its CEO Kumar Apoorv, his wife, and two directors of Way2Sms accusing them of fraud and criminal breach. It was seen that the two directors of way2Sms were hand in glove with Kumar and It is worthwhile to mention here that directors of Way2Sms have transferred Rs 7 crore in three instalments to the account of Kumar Apoorv.
This news of corporate bribe is going to spread like wild fire in world community and will tarnish image of Indians and mergers, acquisitions and sales will get delayed as every proposal will be seen with an eye of suspicion.