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As the private lender reeled from serial scandals, Hinduja insisted he was merely a shareholder. Board-level links, conflicts of interest and regulatory blind spots suggest otherwise.

FY26 numbers for the three major CV makers show resilience and all-around growth. This doesn’t look anything like the undifferentiated sector it once was.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.