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Flipkart Founder Sachin Bansal Booked For Cheating Businessman
Flipkart’s co founders Sachin Bansal and Binny Bansal along with three other employees of the company have been booked for reportedly cheating a businessman. According to a report by a news daily, the founders of India’s biggest ecommerce company cheated a businessman of Rs. 9.96 crores by not clearing the dues the company owed him towards 12,500 laptops he had supplied.
Flipkart’s sales director Hari, along with accounts managers Sumit Anand and Sharauque are the others named in the FIR lodged by the owner of Indiranagar based C-Store Company, Naveen Kumar. In the FIR, Naveen alleged he had supplied 14,000 laptops to the company between June 2015 and June 2016 for the Big Billion Day sale. The FIR states, “Flipkart returned 1,482 units but did not pay for the remaining units.”
The company, according to the FIR, also owes Naveen TDS and shipping charges for those units and falsely claimed to have returned 3,901 units. By not clearing the dues, Flipkart owes Naveen Kumar Rs. 9,96,21,419. The news report further states, the case has been registered in Indiranagar Police Station under IPC sections 34 (common intent,) 406 (criminal breach of trust) and 420 (cheating) and an investigation is underway.
At present, Flipkart is reportedly planning to start selling insurance including general, life and health insurance. Further, the company is also in talks with a slew of digital lending startups to add a new revenue generating business to its suite of offerings. In an attempt to capture a majority of other IoT industries, Flipkart has also initiated discussions with vertical ecommerce players like Swiggy, BookmyShow, Urbanclap, Urban Ladder and Pepperfry.
The Centre is weighing the option of revoking X’s safe harbour status in India after its AI chatbot Grok was allegedly misused to generate and circulate obscene and sexually explicit content, including material seemingly involving minors. The IT Ministry has already issued a notice to X, directing the platform to remove unlawful content, fix Grok’s safeguards, act against violators, and submit a detailed compliance report within a tight deadline. If the government finds X’s response inadequate, it could argue that the platform has failed to meet due‑diligence standards under Indian law, opening the door to harsher action.
Under Section 79 of the IT Act, safe harbour protects intermediaries like X from being held directly liable for user‑generated content, provided they follow due‑diligence rules and promptly act on legal takedown orders. Revoking this protection would mean X and its officers could be exposed to criminal and civil liability for obscene, unlawful, or harmful content that remains on the platform, including AI‑generated images from Grok. This prospect significantly raises X’s compliance risk in India and could force tighter moderation, stricter AI controls, and more aggressive removal of flagged posts.
The Grok episode also spotlights the regulatory grey zone around generative AI, where tools can create harmful content at scale even without traditional user uploads. Policymakers are increasingly questioning whether AI outputs should still enjoy the same intermediary protections as conventional user posts, especially when they involve women and children. How the government ultimately proceeds against X over Grok misuse could set a precedent for AI accountability, platform responsibility, and safe harbour interpretation in India’s fast‑evolving digital ecosystem.
Home services startup Pronto is in advanced talks to raise about $25 million at a near-$100 million valuation, underscoring strong investor confidence in India’s fast-growing 10-minute home services market. This potential round would be the company’s third major funding milestone after its $2 million seed and $11 million Series A in 2025, backed by marquee investors such as General Catalyst, Glade Brook Capital, Bain Capital and new participant Epiq Capital. The fresh capital is expected to further strengthen Pronto’s positioning as a leading tech-led household help platform for urban consumers.
Pronto operates a 10-minute on-demand home-services platform that connects users with trained, background-verified workers for everyday tasks like sweeping, mopping, utensil cleaning, laundry and basic cooking. Using a hub-and-spoke, shift-based model, the startup stations workers at hyperlocal hubs, enabling sub-10-minute fulfilment and more predictable earnings compared to the informal domestic-help market. Founded in 2024 by Anjali Sardana and based in Delhi NCR, Pronto has already expanded from Gurugram into major cities such as New Delhi, Mumbai, Bengaluru and Pune, and is handling around 6,000 daily bookings with nearly 1,300 active professionals as of December 2025.
The upcoming $25 million fundraise is expected to be used to enter more metros, deepen presence in existing neighbourhoods with additional hubs and upgrade Pronto’s technology for smarter routing, shift planning and real-time operations. A significant portion of the capital will also go into training, retention and benefits for its workforce to maintain consistent service quality at scale, especially as competition heats up from rivals like Snabbit and Urban Company in the rapid home services space. This near-$100 million valuation not only validates Pronto’s model but also highlights a broader shift toward organised, tech-driven domestic-help solutions in India’s largely informal home-services market.
Bhavish Aggarwal has sold Ola Electric shares worth about ₹325 crore over three consecutive trading sessions, primarily to fully repay a promoter-level loan of ₹260 crore and release all pledged promoter shares. Despite the stake sale, he continues to hold a significant shareholding of over 34 percent in Ola Electric, and the company has clearly stated that there is no change in promoter control or his long-term commitment to the business. This one-time, limited monetisation at the promoter’s personal level is positioned as a structural clean-up rather than a signal of reduced confidence in the company.
The transactions, executed through open-market bulk deals, included an initial sale of about 2.6 crore shares worth roughly ₹92 crore at an average price of ₹34.99 per share, followed by additional trades of around ₹142 crore and ₹90 crore, taking the total sale value to approximately ₹324–325 crore. As a result, Aggarwal’s stake has fallen by a little over 2 percent, while all previously pledged promoter shares about 3.93 percent of Ola Electric’s equity are being released, removing the overhang and risk typically associated with pledged stock. The company has also clarified that these deals do not involve any capital raise or dilution by Ola Electric itself, which is important for investors tracking promoter stake and governance.
The share sale came at a time when Ola Electric’s stock had been under pressure, even hitting an all-time closing low amid concerns around growth, competition and heavy promoter selling. However, once the company confirmed that the stake sale was complete and all promoter-level pledges would be cleared, the stock rebounded sharply, gaining around 9–10 percent as markets welcomed the removal of this technical overhang. For investors, the focus is now expected to shift back to Ola Electric’s core fundamentals EV sales growth, margins, and market-share performance in India’s two-wheeler EV segment while the reduced promoter debt risk and continued high promoter holding offer some comfort on long-term alignment.
Paytm Grants ₹16.7 Crore ESOPs To Employees Under 2019 Stock Option Plan
Centre Mulls Revoking X’s Safe Harbour Over Grok Misuse
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