Info Edge accuses Rahul Yadav, 4B Networks of �??suspicious transactions�??

New Delhi: Tech and Internet company Info Edge has accused Rahul Bhoopsingh Yadav�??s Broker Network (4B Networks Private Limited) of allegedly undertaking �??suspicious transactions�?? with 4B Realtech Pvt Ltd, a company started by an associate of Yadav.

According to a report in a media outlet, Info Edge alleged in a complaint with the Economic Offences Wing (EOW) of Mumbai Police that 4B Networks advanced a Rs 10 crore loan to 4B Realtech.

The money was later transferred to a close associate of Yadav, the complaint alleged.

�??The complainant has reasons to believe that a substantial amount from such loan was transferred by 4B Realtech to Aceuser, a company in which Yadav�??s wife is a majority shareholder. The complainant company (Info Edge) believes that such transactions were made with a view to moving money from 4B Networks,�?? Info Edge alleged in the complaint.

Info Edge lost around Rs 532 crore after writing off its investment in Yadav�??s Broker Network (4B Networks Private Limited).

While Info Edge�??s cash infusion in Broker Network was Rs 288 crore, the rest is the notional loss from a higher valuation that the startup had reached.

The proptech startup had a valuation of Rs 719 crore before Info Edge had to write down its entire investment.

Info Edge has a 59 percent stake in 4B Networks.

Following a complaint by Info Edge, the proprietors of Naukri.com, the EOW is now probing the case pertainin