Naukri.com parent Info Edge begins investigating whistle-blower complaint at 99acres

Info Edge (India) Ltd., the parent of job portal Naukri.com, has launched an independent investigation after receiving a whistle-blower complaint alleging violations of company policies by employees in its real estate vertical, 99acres.

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In a regulatory filing, the company said its Audit Committee and Board of Directors had taken note of the allegations and appointed a reputed specialist law firm to conduct a comprehensive probe. The firm’s assessment is ongoing. While the company did not disclose details of the complaint, it emphasised that the matter has had no material impact on its financial statements.

Info Edge said the investigation is being undertaken in line with its publicly available whistle-blower policy, underscoring its commitment to transparency, compliance, and corporate governance.

Launched in 2005, 99acres is one of India’s leading online real estate platforms, providing listings for buyers, sellers, and brokers.

The whistle-blower episode comes as Info Edge posted strong quarterly results. Consolidated net profit rose 32% year-on-year to Rs 342.9 crore in the June quarter, on revenue of Rs 790.9 crore, up 17%.

Founded in 1995 by Sanjeev Bikhchandani, Info Edge has grown into one of India’s oldest and most diversified internet companies, operating job recruitment, education, matrimony, and property platforms, as well as a dating app.

It is also a prolific startup investor. In May, shareholders approved a plan for the company to commit up to Rs 1,000 crore (about $118 million) to its latest vehicle, Info Edge Venture Investment Fund III. Its investments in startups, including Anscer Robotics and Bachatt this year, are estimated to have grown ninefold, with a gross internal rate of return of 36%. The firm also holds stakes in several listed companies, including PB Fintech.