CosmicTaco

WestBridge Ventures and Shaadi.com Founder Clash Over SHA Clause Violation

CosmicTaco · 2024-09-07T01:55:07.271063+05:30

- WestBridge Ventures and Shaadi.com founder Anupam Mittal are in a legal dispute over a Shareholders' Agreement (SHA) clause. - The case spans multiple courts, including the Singapore High Court and Bombay High Court, and could set a precedent for future disputes. - WestBridge invested INR 166 Cr in Shaadi.com in 2006, and the SHA granted them exit rights, including an IPO or buyback. - Since 2017, disputes arose as Mittal failed to offer an amicable exit, leading WestBridge to exercise its buyback option. - The drag-along rights could allow competitor Info Edge to take over Shaadi.com, jeopardizing its founders. Source: [INC42](https://inc42.com/features/westbridge-anupam-mittal-shaadi-the-dark-side-of-shareholders-agreement/)

WestBridge Ventures and Shaadi.com founder Anupam Mittal are in a legal dispute over a Shareholders' Agreement (SHA) clause.
The case spans multiple courts, including the Singapore High Court and Bombay High Court, and could set a precedent for future disputes.
WestBridge invested INR 166 Cr in Shaadi.com in 2006, and the SHA granted them exit rights, including an IPO or buyback.
Since 2017, disputes arose as Mittal failed to offer an amicable exit, leading WestBridge to exercise its buyback option.
The drag-along rights could allow competitor Info Edge to take over Shaadi.com, jeopardizing its founders.

Source: INC42