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News on Medial
Jaipur Resort Files FIR Against OYO for Alleged GST Fraud Over Fake Bookings
OutlookIndia
·
3m ago
Medial
Samskara Resorts in Jaipur has filed a FIR against OYO and its CEO, Ritesh Agarwal, alleging GST fraud through fake bookings that inflated its turnover, resulting in a ₹2.66 crore show cause notice. The complaint accuses OYO of recording fraudulent bookings under Samskara’s name to boost annual turnover and includes charges of cheating, criminal breach of trust, forgery, and conspiracy. This follows claims that OYO submitted inflated bills to the GST office affecting multiple hotels.
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OYO showed thousands of fake bookings to inflate its turnover, claims Jaipur hotel in FIR
Inshorts
·
3m ago
Medial
A Jaipur hotel claimed OYO showed thousands of fake bookings to inflate its annual turnover, a move leading to the hotel receiving a 'wrong' GST notice worth ₹2.66 crore. In an FIR, the hotel claimed OYO provided it ₹10.95-lakh business in 2019-20 while OYO showed bookings at the hotel worth ₹22.22 crore, inflating booking amount by over 200 times.
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OYO vs Jaipur Resort: Hospitality Giant Gets Breather as HC Flags Gaps in Samskara’s Case
OutlookIndia
·
3m ago
Medial
The Rajasthan High Court issued a notice to Madan Singh Jain, Director of Samskara Resort, for misleading claims against OYO concerning a GST liability of Rs 2.66 crore. The court criticized the resort for failing to provide essential documentation, possibly trying to divert attention from its own tax issues. OYO was granted protection from coercive actions and initiated defamation proceedings against Jain. The court also noted the GST department sought data from the resort, not OYO.
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Abhinay Maths Accuses Classplus Founders, Others Of Cheating & Forgery
Inc42
·
1y ago
Medial
Abhinay Sharma, the founder of Abhinay Maths, has filed an FIR against the founders and executives of Classplus, accusing them of cheating, forgery, fraud, and copyright infringement. The FIR names Classplus co-founders Mukul Rustagi and Bhaswat Agarwal, CFO Sankalp Agarwal, and VP of business Ayush Agarwal, as well as GSV Ventures managing partner Deborah Quazzo. The allegations include the unauthorized acquisition of assets valued at INR 70-80 Lakh and the use of counterfeit stamps. Classplus had invested in Abhinay Maths last year. Classplus had previously faced a lawsuit for alleged cheating and criminal breach of trust.
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Lilavati Hospital Trustee Files Fraud Case Against HDFC Bank CEO in Explosive Claim
StartupTalky
·
2m ago
Medial
The conflict at Lilavati Kirtilal Mehta Medical Trust (LKMMT) has escalated as trustee Prashant Mehta filed a fraud case against HDFC Bank CEO Sashidharan Jagdishan and seven former trustees, alleging embezzlement and deceit. The accusations include targeting founder trustee Kishor Mehta and hindering loan recovery. The FIR follows court orders and involves claims of bribery and unauthorized financial activities, with HDFC refuting the charges, labeling them a strategy to thwart recovery efforts.
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NestAway founder levels fraud charges against Tiger Global, Chiratae
The Arc Web
·
7m ago
Medial
Amarendra Sahu, founder of NestAway, has filed a criminal case against Tiger Global, Chiratae Ventures, co-founders, and others for alleged fraud, forgery, and coercion during NestAway's 2023 sale. Sahu claims his signature was fraudulently used to sell NestAway for ₹90 crore after he resigned as director. The complaint includes accusations of financial misconduct, as investors allegedly withheld a promised ₹11.72 crore payout. NestAway, valued at ₹1,800 crore in 2019, saw a 95% valuation drop during the distress sale. FIR was registered in Bhubaneswar under IPC sections for fraud, forgery, and criminal conspiracy.
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Jet airways founder arrested in money laundering case
Livemint
·
1y ago
Medial
Naresh Goyal, the founder of Jet Airways, has been arrested by the Enforcement Directorate (ED) in a money laundering case related to an alleged fraud of ₹538 crore at Canara Bank. Goyal, his wife Anita, and former company executives are accused of siphoning funds from Jet Airways. The case originated from a Central Bureau of Investigation (CBI) FIR, and Goyal is expected to appear in a special PMLA court in Mumbai. The CBI had declared the account "fraud" in July 2021 and alleged diversion of funds.
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SC stays GST notices worth over Rs 1 L Cr against online gaming firms for tax fraud
YourStory
·
7m ago
Medial
The Supreme Court has stayed GST authorities' showcause notices, valued at over Rs 1 lakh crore, against online gaming firms over alleged tax evasion. Justices J B Pardiwala and R Mahadevan ruled that all proceedings against these companies remain paused, pending further hearing. The GST law was amended in October 2023 to require foreign online gaming firms to register in India, with a 28% GST on bets. Various firms challenged these demands, and the Supreme Court consolidated cases for review.
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How Accel-Backed Mooofarm’s Dairy Tech Promise Soured
Startup News FYI
·
1y ago
Medial
Accel-backed agri-tech and dairy-tech startup Mooofarm is facing accusations of fraud and mismanagement. The company filed a police complaint against its former finance head for allegedly embezzling INR 10 crore ($1.4 million), but former employees have raised doubts about the founders' knowledge and involvement in the alleged fraud. Mooofarm's business model, which includes a cattle marketplace and supply platform, has also been questioned, with allegations of revenue misreporting and the use of fake vendors and customers. The company denies these allegations and is working on resolving the financial issues it faces.
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Rajasthan vendor lodges FIR against 4B Network's Rahul Yadav alleging fraud
Livemint
·
1y ago
Medial
A vendor named Vikas Om Prakas Noval from Rajasthan has lodged an FIR against 4B Networks and its founder Rahul Yadav for fraud and criminal breach of trust. The FIR was filed under sections 406, 409, 420, and 34 of the Indian Penal Code. The vendor claims that 4B Networks owes them ₹10 crore for advertising services provided in 2022, involving the installation of 83 advertisement hoardings in Pune.
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Ashneer's travel request to London for guest lectures rejected by Delhi Police: Report
Inshorts
·
1y ago
Medial
Delhi Police has rejected a request by Ashneer Grover, the ex-managing director of BharatPe, and his wife Madhuri Jain Grover to travel for guest lectures at the London School of Economics, The Indian Express reported. The Economic Offences Wing has registered an FIR against them over alleged misappropriation of funds. They were stopped from travelling to the US last year.
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