FIR filed against Rahul Yadav. I think there will be a Netflix series on him someday.
EarthDragon
Stealth
a year ago
Soon for AshNooor ;-)
Here’s what he did- there is a property called Kanakia Paris in mumbai, slightly high end flats. He got his friends, family and other acquaintances to buy those flats at overvalued prices from a middleman who had bought these at Lower prices (overvalued price of 5 cr when the real price is 3 cr). Got all of these purchases financed by banks at higher price. Made a neat profit of 2 cr per apartment from which he spent some money on paying down payment and even a few instalments.
After paying a few instalments, all of them start defaulting on loan emi payments - now when the loan goes npa and bank goes to auction these properties, they will recover at max the real prices - so banks lost the money while he and his middleman profit.
Apparently a lot of broker network employees have bought flats there . So there goes, it is not just a story of startup failing, it’s an intentional fraud. He belongs to Tihar jail cell
Kuch nhi hoga. In such situations only the police who took the bribe to register a criminal case and the senior advocate who argues 482 petition make money.
Reminds me of the story when an advocate from Lucknow filed a FIR against Ritesh for a INR 700 dispute and Oyo spent xx to get it quashed. 🤣
Incase someone wants a link to the piece: https://inc42.com/buzz/fir-rahul-yadav-lookout-notice-eow-bank-account-frozen-home-loan-default/amp/
ChotaChetan
Stealth
a year ago
Hansal Mehta ko ye news do koi
Paaji
Stealth
a year ago
V.C log dhakkan hain ya mile hue ?
1
Stealth
a year ago
He screwed up big time 🤬
OverdueTrim
Stealth
a year ago
This is what happens when you glorify thievery
Discover More
Curated from across
Indian Startups on
by Linkedinpoweruser
Rahul Yadav's 4B Network, what a scam! one of the best articles out there
At the heart of the current crisis at the proptech startup lies a flawed business model, sham prospective buyers and higher-than-usual payou...
https://themorningcontext.com/internet/how-rahul-yadav-bungled-info-edge-funded-4b-networks