Info Edge Files Fraud Complaint against 4B Networks Founder

03 Dec 2024 CW Team

In a stock exchange filing on Saturday, Info Edge disclosed that the FIR was registered by the Bandra Police Station (Mumbai Police) on 29 November 2024. The complaint names Rahul Yadav, along with Devesh Singh, Pratik Choudhary, and Sanjay Saini, among others, accusing them of engaging in fraudulent activities related to 4B Networks' funds.

The issue traces back to July 2023 when Info Edge initiated arbitration proceedings against 4B Networks after the company failed to provide critical information about its operations and management. This prompted Info Edge to appoint Deloitte to conduct a forensic audit, which sought clarity on financial transactions and related-party dealings. Despite this, Info Edge assured that the FIR would have no material financial impact on its operations.

In the December 2022 quarter, Info Edge wrote off its equity investment of Rs 2.76 billion in 4B Networks, citing excessive cash burn, liquidity challenges, and uncertainty in funding prospects. The decision was described as a conservative measure, despite the startup's initial promise of strong growth. Info Edge co-founder Sanjeev Bikhchandani later admitted that the investment in 4B Networks was a mistake.

Founded in November 2020, 4B Networks aimed to facilitate communication and transactions between real estate developers and brokers through its Broker Network Platform. The company also supported brokers in conducting site visits and providing home loan services to clients. Info Edge, through its subsidiary Allcheckdeals India Pvt Ltd (AIPL), had invested ?2.88 billion in 4B Networks, including Rs 120 million as debt financing.

The unfolding case highlights challenges faced by investors in ensuring transparency and accountability in high-growth startups, particularly in sectors like real estate technology.

Info Edge, the parent company of the job portal Naukri, has lodged a First Information Report (FIR) against Rahul Yadav, the founder of its portfolio company 4B Networks, along with others, over allegations of fraudulent activities involving the misuse of funds. In a stock exchange filing on Saturday, Info Edge disclosed that the FIR was registered by the Bandra Police Station (Mumbai Police) on 29 November 2024. The complaint names Rahul Yadav, along with Devesh Singh, Pratik Choudhary, and Sanjay Saini, among others, accusing them of engaging in fraudulent activities related to 4B Networks' funds. The issue traces back to July 2023 when Info Edge initiated arbitration proceedings against 4B Networks after the company failed to provide critical information about its operations and management. This prompted Info Edge to appoint Deloitte to conduct a forensic audit, which sought clarity on financial transactions and related-party dealings. Despite this, Info Edge assured that the FIR would have no material financial impact on its operations. In the December 2022 quarter, Info Edge wrote off its equity investment of Rs 2.76 billion in 4B Networks, citing excessive cash burn, liquidity challenges, and uncertainty in funding prospects. The decision was described as a conservative measure, despite the startup's initial promise of strong growth. Info Edge co-founder Sanjeev Bikhchandani later admitted that the investment in 4B Networks was a mistake. Founded in November 2020, 4B Networks aimed to facilitate communication and transactions between real estate developers and brokers through its Broker Network Platform. The company also supported brokers in conducting site visits and providing home loan services to clients. Info Edge, through its subsidiary Allcheckdeals India Pvt Ltd (AIPL), had invested ?2.88 billion in 4B Networks, including Rs 120 million as debt financing. The unfolding case highlights challenges faced by investors in ensuring transparency and accountability in high-growth startups, particularly in sectors like real estate technology.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Infrastructure Urban

06 Nov 2025

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Infrastructure Transport

06 Nov 2025

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..