The odd turn of events this weekend over a press release announcing the induction of a financial investor seems to have caused consternation within the multiple branches of this hyper-conservative joint family. A Friday statement announced a deal that was the culmination of months of intense deliberations. Only, it wasn’t from the company or its new investor but from the sell-side advisor, which is a rarity. It was withdrawn within minutes only to be reissued on Sunday without any changes. This has rubbed salt into already open wounds. The deal had been signed weeks back but the news had leaked just hours after an agreement was signed triggering a speculative storm that seemed to point to the apparent overenthusiasm of the new entrant. And now that the latest misstep has taken place right when the family elders in the capital have now taken control over communications and last-mile outreach, those who have been at the centre of the negotiations are no less bemused.


(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)