India, being the 3rd largest startup ecosystem is fraught with frauds too.
There have been several instances of corporate governance lapses in startups like BharatPe, Zilingo, Trell, and GoMechanics.
This time it's a cloud kitchen startup, namely Bigspoon Foods.
The fraud was exposed in an article titled "How a cloud-kitchen startup misled investors and left unpaid bills in its wake?" which appeared in the e-magazine The Ken, on 28 August 2023.
The podcast covers, how BigSpoon misled into believing that they had closed a Series A round, when in fact it hadn't.
Things started to spiral downward in the last 2 months, almost leading it to bankruptcy.