Magnus debacle a grave case of misgovernance
ON Jan 9, Magnus Energy, a company whose shares have been suspended from trading since Aug 23, 2019, got an opportunity for a reboot after minority shareholders voted in a new board.
For many Magnus shareholders, this could not have been a better outcome. There have been cases where companies became insolvent and shareholders were trapped in limbo.
Had it not been for Charles Madhavan, who had a brief but critical two-month stint as the company's managing director before he was termi...