SoftBank to investigate smear campaign against Nikesh Arora, Alok Sama

Japanese tech conglomerate Softbank has pput its money behind 7 unicorns in India, including Paytm, OYO Rooms and Ola Cabs, among others. (Image: Reuters)

Japanese multinational conglomerate SoftBank has set up a special committee to investigate a smear campaign against its former executives, according to a report by the Wall Street Journal.

The probe panel will comprise of Softbank’s directors on the board, who will examine allegations of leaking financial information, including those against its former president Nikesh Arora.

According to the newspaper, SoftBank is investigating what it said was a shareholder-led smear campaign against Arora and the group’s current Chief Strategy Officer Alok Sama. Arora, who hails from Ghaziabad, was once considered as a successor for group founder Masayoshi Son.

Arora and Sama have been accused of leaks to the media about personal finances and a complaint filed with the US Securities and Exchange Commission, according to the report.

According to the report, an Italian private equity investor, Alessandro Benedetti, who has professional links to SoftBank Vision Fund chief Rajeev Misra, was behind the campaign. Benedetti has however denied being part of any campaign.

SoftBank, which is one of the world’s most dominant technology investors, has invested over USD 6 billion in some of India’s leading internet companies including Flipkart and Ola. SoftBank had found Arora and Sama not guilty of any wrongdoing.