Whistleblower Complaint Shakes 99acres: Info Edge Under Scrutiny
A whistleblower complaint claims policy violations by certain 99acres employees. Info Edge India has engaged a prominent law firm to investigate independently. Currently, there's no impact on financial statements. The complaint will be resolved per the company's whistleblower policy.
- Country:
- India
Info Edge India has come under scrutiny following a whistleblower complaint alleging policy violations by employees within its 99acres business vertical. The real estate classifieds platform, owned by Info Edge India, is at the center of these claims.
The company's audit committee and board of directors have engaged a well-known law firm to conduct a thorough and independent investigation into the allegations. The ongoing assessment is being closely monitored, and thus far, there has been no material impact on the company's financial statements according to their BSE filing.
The allegations will be addressed in line with Info Edge's whistleblower policy, reassuring stakeholders that due process is being followed diligently in this matter.
(With inputs from agencies.)
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