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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The B2B e-commerce startup has accused Nainish Shah, a former associate director, of allegedly misappropriating about Rs 20 crore through fake invoices.
Nainish Shah, a former associate director at B2B e-commerce startup Bizongo, has been arrested by the Mumbai Police.
A spokesperson for the company confirmed the development, adding that “the company continues to fully cooperate with the authorities in the ongoing investigation”. Mumbai Police officials did not respond to requests for comment.
The arrest, made by officers from the Sakinaka police station in Mumbai on 11 July, follows from an FIR filed by Bizongo in April alleging breaches of IPC provisions relating to conspiracy, breach of trust, cheating and forgery by Shah, another former employee, Shrenik Saboo, 132 of the company’s …
A row has broken out between invoice discounting platform TradeCred and a few investors over a default involving the popular startup Bizongo. This is the latest blow-up in a space that is driven by the allure of high returns and is a regulatory grey area.
The Mumbai-based B2B startup has filed an EOW complaint against a former employee for financial misappropriation. In doing so, it may have opened a can of worms.
