Nestaway's Legal Battle with Investors

Amarendra Sahu, co-founder of the home rental platform Nestaway Technologies, has taken legal action against several high-profile investors, including Tiger Global Management, Goldman Sachs, Chiratae Ventures, and Schroders Adveq. Sahu has filed charges of cheating, forgery, intimidation, and criminal conspiracy with the Economic Offences Wing in Odisha, related to the sale of the Bengaluru-based company to Aurum PropTech.

The Allegations

Sahu alleges that the investors forced the sale of Nestaway for Rs 90 crore on June 28 last year, using forged documents. He claims that his co-founders, Jitendra Jagadev and Smruti Ranjan Parida, collaborated with the investors in this scheme. Sahu expressed his financial hardships and accused his co-founders of using proceeds from the sale to buy properties in Odisha.

Investors' Response

Jagadev responded to the allegations by stating that Sahu had previously raised similar issues at the NCLT in Bengaluru, which were dismissed. He suggested that Sahu's actions are an attempt to harass and exert undue pressure on the investors. The representatives of the named investment firms and co-founder Parida have not yet responded to the latest allegations.