ReshaMandi Faces Complete Layoffs, Website Shutdown, and Auditor Red Flag
- ReshaMandi has laid off its entire workforce and its website has been down for a week, coinciding with the resignation of its auditor. - Sources indicate the company is struggling to pay liabilities and operational costs, including salaries, for several months. - The auditor, Walker Chandiok & Co LLP, highlighted issues like revenue inflation and fake invoices before resigning last month. - ReshaMandi owes Rs 14.16 lakh to the auditing firm and has appointed a new auditor, Suresh Kapoor & Associates, in late July. - Despite raising over $50 million, including a $30 million Series A round, the company is facing financial difficulties and is focusing on collecting pending receivables. Source: [Entrackr]()
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