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StealthĀ ā€¢Ā 2m

šŸšØ FIR Filed Against 4B Networks Founder Rahul Yadav ā˜ļø 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. šŸš€ 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 šŸ›‘. The complaint, registered at Bandra Police Station on November 29, 2024, names Devesh Singh, Pratik Choudhary, Sanjay Saini, and others āš” Key Details ā€” ā€¢ Arbitration and Audit šŸ”: Info Edge began arbitration in July 2023 after 4B Networks failed to provide crucial financial details for a Deloitte forensic audit. ā€¢ Financial Losses šŸ’ø: Info Edge wrote off ā‚¹276 crore of its ā‚¹288 crore investment in December 2022, citing excessive cash burn, liquidity issues, and funding uncertainty. ā€¢ Startup's Role šŸ : 4B Networks, founded in 2020, aimed to connect real estate developers and brokers, assisting with site visits and home loans. ā€¢ Impact on Info Edge āš–ļø: The company stated the FIR would not affect its operations. ā€¢ Info Edgeā€™s co-founder, Sanjeev Bikhchandani, admitted that investing in 4B Networks was a mistake šŸ¤·ā€ā™‚ļø.

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