Mint Explainer: What led Info Edge to file an FIR against Rahul Yadav?
1 month, 1 week ago

Mint Explainer: What led Info Edge to file an FIR against Rahul Yadav?

Live Mint  

Investors rarely turn against the founders they back, but Info Edge Ltd has taken an unusual step. Last week, the consumer internet group filed a first information report against Rahul Yadav, founder of its portfolio company 4B Networks, and several key executives, alleging misuse of company funds. The dispute dates back to early 2023, when 4B Networks, a real estate-focused platform led by Yadav, failed to provide critical financial information requested by Info Edge, which owns a 65% stake in the company. While this is one of the first instances of an investor filing an FIR against a portfolio company, corporate governance lapses in India’s startup ecosystem have triggered several legal cases in recent years. The FIR against Rahul Yadav marks a turning point in India’s startup ecosystem, underscoring zero tolerance for financial misconduct and setting a precedent for investor-founder accountability.

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History of this topic

Mumbai police registers Info Edge’s FIR against Housing.com Ex ECO Rahul Yadav, others in 4B Network’s funds
1 month, 1 week ago

Mumbai police registers Info Edge’s FIR against Housing.com Ex ECO Rahul Yadav, others in 4B Network’s funds

Live Mint  

Info Edge on November 30, 2024 announced that it has filed FIR against Rahul Yadav of Housing.com, in an exchanged filing. Info Edge’s filing of an FIR against key executives of 4B Networks marks the latest chapter in a prolonged dispute with the proptech startup. The conflict began in early 2023 when 4B Networks, led by Housing.com founder Rahul Yadav, …

‘We admit that Rahul Yadav’s 4B Networks was a mistake’: Info Edge CEO
1 year, 4 months ago

‘We admit that Rahul Yadav’s 4B Networks was a mistake’: Info Edge CEO

Live Mint  

After the company reported its Q1 results for FY2024 on Friday, Info Edge founder Sanjeev Bikhchandani said that his decision to invest in Rahul Gandhi's realty tech startup 4B Networks was a ‘mistake’, according to media reports. The remarks came weeks after the company's arm Allcheckdeals India wrote down all of its investment in the 4B Networks, which it had …

Info Edge shares in focus as arm initiates forensic audit in 4B Network
1 year, 7 months ago

Info Edge shares in focus as arm initiates forensic audit in 4B Network

Live Mint  

Info Edge share price saw marginal gains on Friday's early trade after the company's arm initiated a forensic audit into Rahul Yadav-backed proptech firm 4B Networks. This came after the company's arm Allcheckdeals India wrote down all of its investment in the 4B Networks, which it had made, because it had not received the requested financial information. The company stated …

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