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  3. Swiggy’s Financial Report Reveals Rs 33 Crore Fraud, Ex-Employee in Doc…

Swiggy’s Financial Report Reveals Rs 33 Crore Fraud, Ex-Employee in Dock Amid IPO Plans

6 Sept 2024

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Key Takeaways

Swiggy’s Rs 33 crore stolen by ex-employee; investigation underway and legal action taken.

Swiggy’s Rs 33 crore stolen by ex-employee; investigation underway and legal action taken.

Swiggy

Swiggy

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Expert Analysis

Swiggy Faces Rs 33 Crore Fraud.

Expert Analysis:

  • Embezzlement Incident: Swiggy reported a Rs 33 crore (about $4 million) stolen by a former junior employee.

  • Investigation and Legal Action: Investigation and Legal Action: Swiggy hired an external team to probe a Rs 326.76 million embezzlement by a former junior employee and filed a formal complaint.

  • Market Share Comparison: Swiggy holds a 43% market share, while Zomato has a 57% market share.

  • Gross Order Value: The combined gross order value (GOV) of Swiggy and Zomato is Rs 56,924 crore.

Publisher:DNP India