logo
Bengaluru founder accused of lying about ₹4.2 lakh salary says it's ‘common in tech'

Bengaluru founder accused of lying about ₹4.2 lakh salary says it's ‘common in tech'

Hindustan Times01-05-2025

When the Bengaluru-based co-founder of a tech company shared a screenshot of his salary on X, it was supposed to be a lighthearted tweet about one of the perks of being an entrepreneur - getting to set your own salary. Instead, it devolved into accusations of lying and flexing on social media for clout, with dozens of people accusing the co-founder of exaggerating the number or faking the screenshot while claiming his salary was too high to be believable.
Abhishek Chakravarty, the Bengaluru-based co-founder of Youform, took to X to share a screenshot that shows ₹420,000 was credited to his ICICI bank account. 'You run a small SaaS that gives you freedom to choose a magic number for your salary,' he wrote, tongue firmly in cheek and a winking emoji to convey the lighthearted tone of his post.
Chakravarty was clearly leaning into the cheeky undertone of the number '420'. But instead of laughs, his post invited scrutiny, with many accusing him of dishonesty.
Some people claimed that the co-founder of Youform had faked the screenshot, pointing to the 'incorrect' placement of commas in the message. Many also said that his monthly salary of ₹4.2 lakh was too high and accused him of bragging on social media.
'I wish you had a better editing skill (Rs. 4,20,000.00) to be precise it comes like this buddy when it gets credited,' a user wrote.
'Not to undermine your efforts or achievements, but Indian banks still count in tens, thousands, lacs and so on, so the number should have had a ',' after 4, like '4,20,000', be it an international transaction or anything,' another X user named Yash added.
'Yes, it's a completely fake screenshot, any number in lakh would look like this,' a user named Mridul wrote.
Abhishek Chakravarty, who previously built and sold Botflow, lashed out at critics, inviting them to a video call to verify for themselves.
'Want to come on a video call to see it is right and then apologise in public?' he asked one person. 'Come over a video call to see it live and then apologise in public,' he told another.
Chakravarty also dismissed people who said the salary was too high, claiming it is common in tech to earn this much.
In response to a person supporting him, the Youform co-founder wrote: 'Seriously! Also, they don't realise how common is this figure as a salary in tech.'
When asked why he was getting triggered, he said: 'Man I am not justifying the income, I am saying this because you are trying to defame me here on my timeline. Either come and disprove it or stay away.'

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Influx Healthtech IPO Allotment: A Step-By-Step Guide To Check Status Online Today, Know Latest GMP
Influx Healthtech IPO Allotment: A Step-By-Step Guide To Check Status Online Today, Know Latest GMP

News18

time19 minutes ago

  • News18

Influx Healthtech IPO Allotment: A Step-By-Step Guide To Check Status Online Today, Know Latest GMP

Last Updated: According to market observers, the GMP of the Influx Healthtech IPO is 22.92%, indicating decent listing gains for investors. Influx Healthtech IPO Allotment: The initial public offering of Influx Healthtech has received a whopping 201.35 times subscription, indicating huge interest from investors. Investors are now eagerly awaiting its allotment even its latest GMP shows a strong 22.92% listing gains. The allotment of the Influx Healthtech IPO is expected to be finalised today, Monday, June 23, in the evening. Once the IPO allotment is finalised, investors will start receiving bank debit messages, most probably in the evening. They can also check their allotment status on the websites of the NSE as well as registrar Maashitla Securities Private Limited. The allotment is expected to be finalised in the evening today, Friday, June 20. The allotment status can be checked by following these steps: Step 1: Visit Maashitla Securities' portal — Step 2: Under 'Select Company', choose 'Influx Healthtech Ltd'. Importantly, if the company's name is not visible in the drop-down list, it means the allotment has not been finalised yet. According to market observers, the GMP of the Influx Healthtech IPO is 22.92%, indicating decent listing gains for investors. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Influx Healthtech IPO Listing Date The shares of Influx Healthtech Ltd will be listed on the NSE Emerge on June 25. The Influx Healthtech IPO was open for subscription between June 18 and June 20. It is a book-built issue worth Rs 58.57 crore, comprising a fresh issue of 50 lakh equity shares worth Rs 48 crore and an offer for sale of 11 lakh shares aggregating to Rs 10.56 crore. On the final day of bidding on Friday, the SME IPO received an overwhelming 201.35 times subscription, garnering bids for 81,71,71,200 shares as against 40,58,400 shares on offer. The retail and NII participation stood at 117.68 times and 481.10 times, respectively. Its qualified institutional buyer (QIB) category got a 137.87 times subscription. The price of the Influx Healthtech IPO was fixed at Rs 96 apiece. Influx Healthtech Ltd's revenue increased 5% and its profit after tax (PAT) rose 19% between the financial year ending with March 31, 2025, and March 31, 2024. Rarever Financial Advisors Pvt Ltd is the book-running lead manager of the Influx Healthtech IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Influx Healthtech IPO is R K Stock Holding Private Limited. Influx Healthtech Ltd, founded in September 2020, is a healthcare-focused CDMO with three manufacturing units in Thane, producing tablets, capsules, powders, liquid orals, and softgels.

Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term
Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term

Mint

time22 minutes ago

  • Mint

Israel-Iran war: DMart to Eicher Motors— Jigar Patel of Anand Rathi recommends 3 stocks to buy for the short term

Stocks to buy for the short term: Indian stock market benchmarks, the Sensex and the Nifty 50, crashed over a per cent each in intraday trade on Monday, June 23, as Israel-Iran war escalates further, crude oil prices rise sharply and investors dump riskier equities and rush to safe haven assets. As it is difficult to predict the trajectory of the stock market amid rapidly changing geopolitical scenarios, Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, advises traders to remain vigilant. "A decisive breakout above 25,300 could pave the way for a sustained rally toward 25,500–25,600. Conversely, any faltering near current levels could signal renewed caution. On the downside, immediate support lies at 24,700, with a stronger floor near 24,450. Until confirmation is evident, restraint remains prudent near resistance zones," said Patel. Jigar Patel recommends buying shares of DMart, Eicher Motors and Biocon for the next two to three weeks. Over the past month, Eicher Motors has witnessed a healthy correction of approximately 12 per cent from its recent peak of ₹ 5,906. Notably, the stock has established a firm base over the last 15 trading sessions, consolidating between its 50- and 100-day exponential moving averages — a sign of stabilizing price action. In the latest session, Eicher decisively broke out of a dual descending trendline, supported by a steadily improving Relative Strength Index (RSI), which has consistently held above the 40 mark and now stands at 61.42. "The confluence of favourable technical indicators positions Eicher as an attractive long candidate. Traders may consider initiating positions in the ₹ 5,530–5,480 range, targeting ₹ 5,900, with a stop loss placed below ₹ 5,300," said Patel. Eicher Motors Following a steep decline from its recent high of ₹ 4,557, DMart has entered a consolidation phase, forming a strong base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA). Notably, the stock has triggered a bullish golden crossover, with the 50-DEMA moving above the 200-DEMA — a technically significant development often interpreted as a precursor to upward momentum. Adding weight to the bullish bias, the stock has also broken out of a descending trendline, indicating a potential trend reversal. "Given this confluence of positive technical signals, traders may consider initiating long positions in the ₹ 4,300–4,250 zone, with an upside potential toward ₹ 4,700. A stop loss should be maintained below ₹ 4,100 on a daily closing basis," Patel said. DMart Biocon has recently established a robust base around the confluence of its 50-, 100-, and 200-day exponential moving averages (DEMA), signalling price stability after a period of consolidation. A golden crossover — with the 50-DEMA crossing above the 200-DEMA — further reinforces the emerging bullish sentiment. On June 19, 2025, the stock also formed a bullish harami candlestick pattern, accompanied by a close above the R3 Camarilla monthly pivot, strengthening the technical outlook. This alignment of key indicators suggests a potential upside move. "Traders may consider initiating long positions in the ₹ 353–348 range, with a projected target of ₹ 385. A protective stop loss should be placed below ₹ 332 on a daily closing basis to manage risk effectively," said Patel. Biocon Read all market-related news here Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.

Good news for Anil Ambani, another company settles Rs 2730000000 loan of…, with…
Good news for Anil Ambani, another company settles Rs 2730000000 loan of…, with…

India.com

time22 minutes ago

  • India.com

Good news for Anil Ambani, another company settles Rs 2730000000 loan of…, with…

Anil Ambani was already in the news for settling down the debt of his many companies. Now once again it has settled the debt with another company. In a recent exchange filing it stated that it has fully settled a Rs 273-crore loan, including interest, owed by its wholly owned subsidiary JR Toll Road Pvt Ltd (JRTR) to Yes Bank Ltd. It stated, '' A wholly owned subsidiary of the Company (along with the Company as Corporate Guarantor), has entered into an addendum to the Settlement Agreement today with Yes Bank Limited (YBL) for the entire outstanding debt obligation of ~INR 273 crore (including interest) owed by JRTR to YBL, and has duly paid the entire settlement amount.'' Anil Ambani Company Debt Reduction Debt reduction has become a primary focus for Anil Ambani. Reliance Infrastructure: Paid off Rs 3,300 crore of debt in FY 2025, becoming debt-free. Rosa Power Supply Company: Cleared Rs 485 crore of debt, achieving debt-free status. Reliance Power: Settled a loan of Rs 3,872 crore earlier. JR Toll Road Pvt Ltd, a special purpose vehicle established by Reliance Infrastructure, is responsible for the development, operation, and maintenance of a 52-kilometer segment of National Highway 11, connecting Jaipur and Reengus in Rajasthan. The project was executed under the Design-Build-Finance-Operate-Transfer (DBFOT) model, featuring a highway expansion from four to six lanes. Operations commenced in 2013, coinciding with the start of toll collection.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store