In a complaint to Mumbai Police, Info Edge alleges that Yadav has made several high-value transactions to individuals, companies and vendors associated with him.
While Info Edge’s cash infusion in the startup stood at Rs 288 crore, the rest is the notional loss from a higher valuation that the startup commanded earlier. Info Edge has a 59% stake in the proptech firm.
The Info Edge said they have had discussions internally and reviewed matters if something needs to be changed, to see if they need to tighten due diligence, etc