IndiaMART shares fall after police complaint against CEO

IndiaMART InterMESH

08/02/2021 05:44

** Shares in business-to-business e-commerce platform
IndiaMART InterMESH Ltd  INMR.NS  fall as much as 4.1% in an
upbeat broader market  .BO 
    ** Three men, including IndiaMART CEO Dinesh Agarwal, were
booked on Sunday for allegedly putting up for sale rocks from
the Govardhan hill in northern India considered holy by Hindus,
the Press Trust of India reported https://www.livemint.com/companies/news/indiamart-ceo-two-others-booked-for-selling-govardhan-hill-rocks-online-11612750073588.html
 in a story carried by Mint
    ** A First Information Report (FIR), or an official police
complaint, has been filed under anti-fraud and information
technology laws against Agarwal, IndiaMART co-founder Brajesh
Agrawal and local supplier Ankur Agrawal, the report said
    ** A local police official confirmed to Reuters that an FIR
had been filed on Sunday against Dinesh Agarwal; IndiaMART did
not immediately respond to a Reuters request for comment
    ** IndiaMART shares were last down 2.9%; they are up ~48% in
2021

 (Reporting by Sachin Ravikumar)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27))