Good Glamm Group takes Indian Angel Network to Indian Council of Arbitration

Beauty and media business Good Glamm Group is engaged in a dispute with numerous stakeholders and has taken the Indian Angel Network to the Indian Council of Arbitration to initiate arbitration proceedings after allegations made by the Indian Angel Network against Good Glamm Group.

The Indian Angel Network has alleged that Good Glamm Group broke its contract and that both the business and its board tried to cheat its investors, the Economic Times reported. The Indian Angel Network is an investor in Sirona, a women’s hygiene brand, which Good Glamm Group acquired.
 
Good Glamm Group denies these claims and has countered the default notice sent by the Indian Angel Network. The business has described its comments as defamatory and asserted that it is compliant with its contractual terms.
 
The Indian Angel Network and the founders of both Sirona and The Moms Co have also alleged that Good Glamm Group did not pay the final amount due to acquire the two startup businesses in 2021. “The legal action is only against IAN while the company is trying to find a solution in consultation with founders of the acquired companies,” an anonymous source close to the matter told ET Tech.