“As per a report in The New Indian Express, on the day of the launch of their company, directors and promoters were arrested from the launch venue in Kochi for allegedly defrauding the Kalamaserry branch of the Bank of Baroda by falsifying proofs. The duo are said to have been later produced before the Kalamassery Judicial First Class Magistrate.
The brothers reportedly have several cases of fraud registered against them various banks across the country, and are said to have been absconding for over a year. Every graduate today aspires to be an entrepreneur. They all have a business plan which they believe will be a game changer. The pathway to have your own company or being a part of such a company is not easy. It is full of potholes and crossroads when you have to make a decision. Everything associated with having your own company is not as smooth as it may look so on the outside.
A business idea is not everything. It serves as starters for evening dinner. When an aspiring entrepreneur ventures into the market with his business idea, he is looking for funds. But he is not the only one looking for funds there are other aspiring entrepreneurs as well but not enough investors. With such fierce competition, they are keen and may sign on the first person who offers them the investment to take their company to the next level. It is hard to refuse an offer that can propel your company towards your dream. But living in a country where corruption is so evident and with people with huge cash stashes, there is an increasing need to be aware and informed.
This is where an entrepreneur needs to be careful as the person he is building a business relationship with can jeopardize the idea and efforts. To tackle such issues, AuthBridge designed a solution called Investor Due Diligence.
Investment Risk Due Diligence is conducted on promoters or entities to be well-versed of their existence and operations. With the growing instances of frauds and the increasing regulatory watch on investments, this ensures that investees are entities of repute and can safely operate and grow in an increasingly global business environment. Our process complies with various global regulations on anti-money laundering like the US FCPA, UK Bribery Act, Indian Prevention of Money Laundering Act etc. So how are you ensuring smart investment decisions?
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