Read what The Indian Express Investigation has revealed
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Dear reader, In an attempt to boost India’s deep-tech ambitions in the private sector, a new public fund has approved Rs 2,192 crore of soft loans in its first round to 22 private companies across space science, energy tech, pharmaceuticals, and other sectors. These companies were chosen by a 12-member panel, including 11 established names in private equity and technology, and a non-voting government representative. There’s one question mark, though. An investigation by The Indian Express found that of these 22 companies, 15 have investment ties to seven members of the selection committee. These companies together got over Rs 1,377 crore, which has now raised questions about conflict of interest and propriety. Nine of them are linked to the chairman of the selection panel. READ THE FULL INVESTIGATION |
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