Bengaluru Co Booked For Defrauding Govt

New Delhi: The Economic Offences Wing (EOW) of the Delhi Police has registered an FIR against a Bengaluru-based company for allegedly siphoning off government funds intended to support startups.

The company, HPPL Foundation, posed as an accelerator connecting startups with government schemes. It allegedly received over Rs 3 crore under the pretext of supporting startup initiatives but failed to disburse the funds to the intended recipients.

According to police officials, the Ministry of Electronics and Information Technology (MeitY) filed a complaint through its authorised representative. The complaint stated that HPPL had approached the ministry to act as an accelerator under the SAMRIDH programme.