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 Energy

17 Sep 2025

Invenia Wins Rs 3.6 Billion Contract for PowerGrid Data Centre

Invenia-STL Networks Limited, a leading digital infrastructure and IT services company, announced it has secured a major contract worth over Rs 3.6 billion from PowerGrid Teleservices Limited (PowerTel), a wholly owned subsidiary of the Power Grid Corporation of India Limited (PGCIL), the nation’s largest electric power transmission utility.Under the agreement, Invenia will design, build, commission and maintain the complete IT and cloud infrastructure for a greenfield Tier III data centre at PowerGrid’s Manesar facility. In addition, Invenia will establish a Disaster Recovery Data Centre ..

Infrastructure Energy

17 Sep 2025

Vikram Solar Secures 200 MW Order to Expand India’s Solar Capacity

Vikram Solar, one of India’s leading solar PV module manufacturers, has announced a major order of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects. The modules, rated at 590 Wp and above, will be deployed across Maharashtra, Madhya Pradesh and Gujarat — three solar-progressive states accelerating their adoption of clean energy.Under this order, Vikram Solar will supply its advanced M10R N-Type TOPCon modules, designed for superior performance, reliability and higher energy yield. Deliverie..

Real Estate

17 Sep 2025

Shriram Properties Backs Neerathon 2025 to Promote Water Conservation

Shriram Properties Limited (SPL), one of India’s leading residential developers in the mid-market and mid-premium segments, reaffirmed its commitment to sustainability and community welfare by supporting IPA Neerathon 2025 in Chennai as the Title Sponsor. The event, which attracted thousands of participants across 10K, 5K and 3K categories at Island Grounds, was more than a race — it was a movement for water conservation and environmental stewardship.For SPL, this partnership aligns with its long-standing efforts to support initiatives beyond real estate, promoting sustainable communities ..