I just logged in for a few mins and felt like giving this answer because I'm actually studying about it...
In layman terms, Kohinoor is a fake company (special purpose entity) which Raj, Armaan and Jassi created to cover up Gulmohur's immense debt and losses. This happened during the very famous Enron accounting debacle --- Creation of fake companies to hide the fact that it was bankrupt.
I saw the interview of Enron's CEO - the guy is so stupid...he said that "our cash flows were great, but we went bankrupt"π (there isn't a more contradictory statement...and this character had a PhD in Economics!)
Anyway, Armaan transferred Kohinoor to Jassi without the consent of the shareholders - that is illegal and a white collar crime. In large corps. like Enron, the Board of Directors go to jail.
Lashforever is right...Jassi and Armaan could go to jail for this if the shareholders press charges. As shareholders, Mallika and Aryan have every right to take Jassi to court because Kohinoor is a fake (do they even know about it?π...I have no clue bcoz I dont bother watching the serial anymore)
Anyways, hope that helps, Gunia. To the IF MBAs who are Jassi Watchers: If i've misinterpreted anything, feel free to correct it...
Its Back to the books for me!
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