NestAway co-founder accuses Tiger Global, Chiratae, Goldman Sachs of fraud

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The other three partners, Jitendra Jagadev, Smruti Parida, and Deepak Dhar, also left the company.“But I continued with the company without any financial gain, and due to my sincere endeavour and dedication, the company survived and was brought back to a viable condition,” said Sahu in the FIR.

NestAway's most recent funding round took place in 2019, when it raised capital at a valuation of $220 million (Rs 1,810 crore) from prominent investors such as Tiger Global, UC-RNT Fund, Flipkart, Goldman Sachs, and Yuri Milner.

When the company was under severe financial distress, investors, namely Goldman Sachs and Tiger Global, left the board to avoid sustaining any personal monetary losses or reputational damage.

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Category: BusinessFinance

Markets: India

Topics: Orissa High Court First Information Report Amarendra Sahu Criminal case NestAway

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-02 @ 19:51:17 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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Sentences: 38 lines

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News ID: 24819382

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