- Supam Maheshwari, founder of FirstCry, Globalbees Brands and Xpressbees, is being investigated by the Indian tax department for possibly evading over $50 million in taxes on FirstCry equity transactions.
- Investors including ChrysCapital Management Co and Sunil Bharti Mittal’s family office have also received tax-related enquiries.
- Maheshwari is currently in talks with the tax department to settle the probe; he has yet to issue a statement on the matter.
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