|Hedge fund manager QVT Financial is demanding that Trikona Trinity Capital sell all of its investments in India and then return the money to shareholders. QVT is Trikona’s largest shareholder with a 27% stake.
Trikona is resisting QVT's demands, saying that it would face a serious risk of legal action from Trikona's partners and India’s Government. India has lock-in periods and tough repatriation laws.
QVT is also currently engaging Hirco, a real estate fund, along with Laxey Partners. The hedge funds are demanding a new Chairman.
In addition, QVT has proposals outstanding with Principle Capital Investment Trust.|