MC Insider | A corner office swap, an all-out legal battle and a deal gone cold

The exit of the chief of one of India’s largest mortgage firms is now old news. What’s grabbing attention is his next stop. It’s not a sabbatical in his hometown, but a corner office at another financial powerhouse.

Here’s where it gets spicier. The CEO he may succeed is rumoured to be in line to take over his current seat. But this is not a done deal yet, though. Word is, the firm he’s heading to recently clawed back shares from its outgoing CEO over some questionable expenses. Friends, however, say the outgoing chief is no pushover, either. He is supposed to be a hit within his business circles and with regulators. So if the stars align, this could be a clean swap of corner offices.

What was supposed to be 2024’s most anticipated deal in the financial services was carried forward to this year. But it still shows no signs of closing anytime soon. The investor from the "land of the rising Sun" may need all the patience they can muster, as the deal has entered somewhat murky terrain.

What's the roadblock? An all-out legal battle between the company’s two co-founders. One feels he was terribly shortchanged in the past and now wants his pound of flesh, but the other, who now claims to be at the helm of things, says all is fair in love and war. For those watching from the sidelines, it's just a delaying tactic to test the buyer's patience.

We hear this global buyout firm, based in a city famed for its sports teams, pressed the pause button recently, post the launch of a key deal involving an Indian portfolio firm.

And why, you ask? Blame it on Trump tariffs. We hear that after the tariff announcement, much of the sales process was quietly withdrawn and held back for better market conditions. A slew of peers are keen on the asset, though, and we'll keep you updated when the deal picks up pace.