New Delhi, April 29 -- InGovern Research Services, an independent corporate governance research and advisory firm, has raised red flags against Triveni Engineering & Industries' (TEIL) open offer for Sir Shadi Lal Enterprises (SSLE), stating it is much likely to fail. This is because the market price of Rs 280 is much higher than the offer price of Rs 262.15 a share. Further, raising concerns over the rationale and prudence of the investment by TEIL in SSLE, the proxy advisory firm has said that Triveni may face opposition in getting a controlling stake in SSLE. The deal might also "adversely" impact the former's minority shareholders. InGovern, in its note, also stated that the SSLE's independent directors had also raised concerns on the v...