Wednesday, September 27, 2023

Rs 280 Cr Vanished In 4B Networks Founder Rahul Yadav Enjoyed Lavish…

Indian startup founder Rahul Yadav: There has been a web of startups in India for the last few years. Nowadays many people are preferring to start their own startup instead of doing a job. While on one hand some startup companies are writing a new chapter of success, on the other hand some are facing huge losses. A startling company working in the housing broking sector, Broker Network, which is operated by B Network, has come to the fore. Rahul Yadav’s property tech startup 4B Networks has reportedly lost a total funding of Rs 280 crore. While on one hand the employees of the company have not received their salaries for months, on the other hand its founder Rahul Yadav is living a very luxurious life.

Founder spent crores in luxury

According to the report of IANS, founder Rahul Yadav is living a very comfortable life even after the company suffered huge losses. He has a collection of luxurious vehicles like Mercedes-Maybach. Along with this, the founder has taken a luxurious board room in Taj Land on rent for Rs 80,000 per day. The shocking thing is that while Rahul is spending crores on all these things, he has not given salary to the employees working in the company for months.

Employees did not get salary for 7 months

According to the news of startup news portal Inc42, the broker network has used Rs 280 crore in a short period of only 18 months, but even after this the company has failed to pay salaries to its more than 150 employees from November 2022. According to sources, Rahul Yadav has asked his old employees to take personal loans and pay the salaries of all the employees. A high level employee has taken a total loan of up to Rs.50 years for this work. In case of non-return of money for a long time, this top official has filed a criminal complaint. According to the report, apart from this, Yadav has also forced many other employees to take advance salary loans. Accusing many employees of the company, he has said that on the one hand he himself is living a life of luxury, while on the other hand he is not paying the salaries of the employees for several months.

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Company will be audited

Info Edge has decided to conduct an audit of Rahul Yadav’s company 4B Networks. The company had decided to write off about a quarter of its investment as the company did not provide the information sought by Info Edge. Info Edge has told the stock market that it has given a total amount of Rs 288 crore to 4B Networks. Out of this, Rs 276 crore has been invested in shares, while Rs 12 crore was given as debt financing.

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Advice of this 23-year-old millionaire- Job will spoil life, to become rich you will have to do this work!

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