/
•
•
Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
How the construction tech startup could have shown inflated revenue and margins on the back of fake invoices and suspicious transactions.
Last week the Income Tax Department raided 23 offices of Infra.Market across five states in India. From the tax department’s press release:
A large number of incriminating evidences in the form of hard copy documents and digital data have been found & seized during the search operations. These evidences revealed that the group has booked bogus purchases, made huge unaccounted cash expenditure and obtained accommodation entries, aggregating to the tune of over Rs. 400 crore. These evidences were confronted to the Directors of the group, who admitted under oath this modus operandi, disclosed additional income of more than Rs. 224 …
With no minimum investment threshold, the emirate is widening access to residency even as geopolitical risks cloud its appeal.
The platform’s pre-IPO debt funding raises fresh questions about cash flows and SEBI’s role. Investors will do well to take note.
The construction material supply firm’s scale and profitability may appear shiny, but hide a stark truth. Its use of equity to fund working capital is playing with fire when bigger fish are eyeing its business.
