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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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4B Networks' Rahul seeks anticipatory bail in ₹10 crore fraud case
Inshorts
·
1y ago
Medial
Rahul Yadav and Sanjay Saini of 4B Networks have filed an anticipatory bail application before a sessions court in Mumbai. This comes after an FIR was registered against them, accusing them of not paying a vendor ₹10 crore in outstanding payments. Yadav and Saini have provided no reason for the default in questioning so far, a police official told CNBC-TV18.
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Co-working firm Innov8 goes into arbitration with Rahul Yadav's 4B Networks for unpaid dues
Money Control
·
1y ago
Medial
Rahul Yadav, the founder of 4B Networks, is facing mounting legal troubles, including arbitration and criminal cases. In addition to his arbitration dispute with Info Edge, it's revealed that 4B Networks and Yadav are also in arbitration with Innov8 over unpaid rent of Rs 1.08 crore for an office space. Innov8 has filed a criminal case under the Arbitration and Conciliation Act after failed attempts to resolve the issue. Another arbitration case involving 4B Networks is also facing difficulties, with Yadav requesting more time for understanding the arbitration case with Info Edge. A criminal case has also been filed against Yadav by an ad agency for Rs 10 crore in unpaid dues.
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Info Edge files FIR against Rahul Yadav over 4B Networks fraud
Economic Times
·
8m ago
Medial
Info Edge, a consumer internet group, has filed a complaint with the Mumbai police against Rahul Yadav and others for alleged fraudulent activities involving funds from 4B Networks. Yadav, the cofounder of Housing.com, was fired in 2015. Info Edge had invested INR 295 crore in Yadav's new startup, 4B Networks, in 2021-22. After the startup failed to disclose financial details, Info Edge appointed Deloitte for a forensic audit. When 4B Networks did not provide the necessary information, legal action was taken. The co-founder of Info Edge admitted that investing in 4B Networks was a mistake.
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Founder of Broker Network, Rahul Yadav, Granted Bail Amid Bounced Cheque Allegations - Business Byte
Business Bytes
·
1y ago
Medial
Founder of Broker Network, Rahul Yadav, has been granted bail after being charged with a bounced cheque complaint. The complaint, filed by a former employee, alleges that Yadav issued a dishonored cheque of INR 50 Lakh. Yadav pleaded not guilty to the charges and is concurrently facing other legal challenges related to non-payment of dues and fraud. The outcome of these legal proceedings will determine the veracity of the allegations against Yadav and impact the reputation of Broker Network.
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Broker network’s Rahul Yadav out on bail after bounced cheque complaint in Mumbai
Inc42
·
1y ago
Medial
Former Broker Network employee Arun Singh Shekhawat filed a complaint against Rahul Yadav for allegedly borrowing INR 50 Lakh from him for paying salaries to employees at Broker Network. In November 2023, Yadav appeared in court after a bailable warrant was issued. The complaint was registered under Section 138 of the Negotiable Instruments (Amendment) Act, relating to a bounced cheque for INR 50 Lakh. This case is one of the two being investigated by the Economic Offences Wing against Yadav, including allegations of non-payment of dues and fraud amounting to INR 288 Cr.
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Founder of Broker Network, Rahul Yadav, Granted Bail Amid Bounced Cheque Allegations
Business Bytes
·
1y ago
Medial
Rahul Yadav, founder of Broker Network, has been granted bail after being accused of a bounced cheque in Mumbai. Yadav pleaded not guilty to the charges and is facing additional legal challenges, including accusations of non-payment of dues and fraud. The outcome of the case will determine the veracity of the allegations against Yadav and adds complexity to the narrative surrounding Broker Network. The unfolding legal saga will be closely monitored by stakeholders and the business community.
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Info Edge’s notional loss from Rahul Yadav’s 4B Networks stands at Rs 532 crore
Money Control
·
1y ago
Medial
Info Edge, a technology company, has revealed a total loss of Rs 532 crore from its investment in proptech startup 4B Networks. Info Edge's cash infusion in the startup was Rs 288 crore, while the remaining amount represents a notional loss due to a higher valuation that the startup previously had. The write-down is based on factors such as excessive cash burn, liquidity issues, and funding uncertainty. Info Edge has initiated legal proceedings against Rahul Yadav, the founder of 4B Networks, for alleged financial irregularities and embezzlement of funds.
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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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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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NCLT Initiates Insolvency Process Against Rahul Yadav’s Broker Network
Inc42
·
1y ago
Medial
The National Company Law Tribunal (NCLT) has initiated the corporate insolvency resolution process against Broker Network, owned by Rahul Yadav, following a petition by NBFC Krishkan Investment over unresolved debt. The NCLT's Mumbai bench admitted the petition, which states that Broker Network borrowed INR 3 crore from Ace Housing and Construction but failed to repay INR 1.2 crore. This development adds to the legal troubles faced by Yadav and Broker Network, including allegations of non-payment of dues and fraud. The insolvency proceedings may disrupt ongoing lawsuits and restrict the transfer or disposal of assets by Broker Network.
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