What justifies the following events
2023
August : Resignation of Mrs Manjusha Nibe from WTD ( Ironically Resignation letter still references the Violet Dream Citi Apartment as her address )
August : Resignation of Statutory Auditors ( Appointed in 2022 for a term of 5 years ending 2027. Resigned in 2023 )
Oct : Resignation of Senior Management ( Mr. Vishnoo K Prathap Chief Innovation Officer
/ Mrs. Jasleen Kaur Arora Head SCM )
Oct : Resignation of CEO ( Mr. Sachin Raosaheb Shinde ) . New CEO Mr. Balakrishnan Swamy in the appointment letter states as a person with rich background in aerospace with experience at Boeing, USA, and as a Founder in defense systems manufacturing . Refer Linkedin bio
Dec : Resignation of Company Secretary Priya Pandey
The strange part is before 2019 Mr Ganesh Nibe has no records available to show he has ever been linked to any defense businesses or any similar business interests. Infact he has been only involved in Electrical Business and Real Estate business based out of Nashik Shrinivas Electricals GTD Pvt. Ltd., Nashik - Manufacturer of software development services and Automation Software Applications prior to 2018-19
He jumped on the E-Vehicle Trading business in 2018-19 and this was the first time it seems that there a some politcal connections involved as Mr Suresh Prabhu was there at the event https://www.youtube.com/watch?v=CDloW_nO0Ts . It could either be a coincidence or some political favor.
The Chief Innovation Officer Mr. K Vishnoo Prathap who resigned Nibe in just 5 months was previously Deputy Program Director at iDEX - Defense Innovation Organization (DIO) DDP, Ministry of Defense for over 2.5 years. When such a KMP leaves the company in just 5 months of joining says a lot about the state of the company .
The Admiral is in Pune for the Maharashtra Defense Expo 2024 and not for Nibe . As a Knowledge Partner , Nibe would have approached them for the inauguration just as a PR stunt is my view. Even in the article linked above , the admiral makes only a couple of general statements about the facility and role of having automation & machinery .
A couple of more interesting facts,
- Nibe Defense and Aerospace office in hi tech defense and aerospace park Bangalore is located where companies have setup manufacturing units. Check Nibe office size ( which is a corporate office instead of manufacturing ) in comparison to some of the other Defense companies in the same area
In addition , check the 360° street view from Google . It clear states Nibe Defense & Aerospace building was available on Lease in June 2022 from AZ Leasing Solution. The questions which arise is whether Nibe has taken the entire on lease or just a single floor or even lesser space ? What is the rationale of setting up a corporate office in a Defense and Aerospace park where other players are setting up manufacturing units ?
Unfortunately, as investors are getting smarter even the ways in which these organized groups involved in pumping and dumping the stock prices are getting smarter day by day