Dr. Diwan purchased 14,000 shares in January at 2.56 per share and now owns over 2,000,000 shares. I don't know, but that doesn't sound like someone who's thinking the share price is going to tank.
I have to say one of the biggest red flags for me is when Dr. Diwan made his wife CFO. That stinks like a dead fish. You can argue for the competence of Meeta Vyas all you like, the fact remains that there are thousands of other competent financial people any one of which could have been hired as CFO and who weren't married to Dr. Diwan.