Tue Dec 03 00:27:59 UTC 2024: **Info Edge subsidiary files fraud case against 4B Networks founders**
**Mumbai, December 2, 2024** – AIPL, a subsidiary of Info Edge (India), the parent company of Naukri.com, has filed a First Information Report (FIR) against Rahul Yadav, founder of 4B Networks, and others, accusing them of fraud. The complaint was filed with Mumbai Police on November 29, 2024.
According to Info Edge’s announcement on Monday, AIPL, which holds a stake in 4B Networks, repeatedly requested financial information and details of related-party transactions from the company. These requests went unanswered, prompting AIPL to conduct a forensic audit and subsequently file the FIR. The FIR alleges fraud concerning 4B Networks’ funds.
The other accused in the FIR are Devesh Singh, Prateek Chaudhary, and Sanjay Saini, along with other unidentified individuals. Info Edge clarified that the FIR is not expected to significantly impact its business operations.
Info Edge had previously announced in February 2023 that it had written off its entire investment in 4B Networks due to cash flow issues and uncertainties regarding funding. Yadav, who previously founded Housing.com, was dismissed from the company’s board in 2015. 4B Networks is an indirect subsidiary of AIPL.
First Piper 