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๐Ÿšจ FIR Filed Against 4B Networks Founder Rahul Yadav โ˜๏ธ Info Edge, the parent company of Naukri.com, has lodged an FIR against Rahul Yadav, founder of 4B Networks, along with others, for alleged fraudulent misuse of funds. ๐Ÿš€ Info Edge, the parent company of Naukri, has filed an FIR against Rahul Yadav, founder of 4B Networks, and others, alleging fraudulent misuse of funds ๐Ÿ›‘. The complaint, registered at Bandra Police Station on November 29, 2024, names Devesh Singh, Pratik Choudhary, Sanjay Saini, and others โšก Key Details โ€” โ€ข Arbitration and Audit ๐Ÿ”: Info Edge began arbitration in July 2023 after 4B Networks failed to provide crucial financial details for a Deloitte forensic audit. โ€ข Financial Losses ๐Ÿ’ธ: Info Edge wrote off โ‚น276 crore of its โ‚น288 crore investment in December 2022, citing excessive cash burn, liquidity issues, and funding uncertainty. โ€ข Startup's Role ๐Ÿ : 4B Networks, founded in 2020, aimed to connect real estate developers and brokers, assisting with site visits and home loans. โ€ข Impact on Info Edge โš–๏ธ: The company stated the FIR would not affect its operations. โ€ข Info Edgeโ€™s co-founder, Sanjeev Bikhchandani, admitted that investing in 4B Networks was a mistake ๐Ÿคทโ€โ™‚๏ธ.

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