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Indian EV Startup Founder Accuses Aditya Vikram Birla Of Financial Fraud Of Rs 26 Crore
- An Indian startup founder, Parivesh Shukla, has accused Aditya Vikram Birla of financial fraud, forgery, and harassment.
- Parivesh Shukla is the founder of Raft Motors, an electric vehicle company acquired by Aditya Vikram Birla in November 2023.
- After refusing to sell his shares at an undervalued price, Shukla faced salary stoppage and was asked to step down from directorship.
- In December 2024, Shukla discovered his shares worth Rs 26 crore were transferred to an individual named Raja Saha without his consent.
- Shukla alleges forgery in the share transfer documents and claims his original share certificate remains with him.
- Shukla has attempted legal action against Aditya Vikram Birla and others involved in the alleged financial fraud and harassment.
- Upon contacting authorities and facing challenges in the investigation, Shukla wrote to the President of India seeking intervention.
- Shukla warns other startup founders about potential risks of acquisitions and urges respect for hard work in building a startup.
- The case has been forwarded to the Economic Offenses Wing and investigations are ongoing.
- Aditya Vikram Birla and Raft Cosmic EV were contacted for comments but did not respond, according to Startup Pedia.
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