Vendor files FIR against Rahul Yadav alleging fraud

economictimes.indiatimes.com:

Rahul Yadav continues to intensify with a Rajasthan-based vendor filing a first information report (FIR) against him alleging fraud and criminal breach of trust. The vendor, Vikas Om Prakas Noval has filed the FIR under section 406, 409, 420, 34 of the Indian Penal Code.

This happens at a time when Yadav's company is already undergoing a forensic audit by investor Info Edge for not disclosing details of financial transactions and related-party activities when asked for by the investor. In June, Info Edge disclosed to the stock exchange it had hired Deloitte to conduct the audit.

Info Edge had written off its equity investment of Rs 276 crore in 4B Networks during the December 2022 quarter citing “excessive cash burn, prevailing liquidity issues and significant uncertainty towards funding options”. In an interaction with ET Prime in June, Yadav had dismissed all these allegations against him.

Also read: Rahul Yadav: I stopped sharing data and Info Edge sent me a notice. You call it financial fraud?(more to come)