A sudden crisis earlier this year almost devoured the horsepower of Infra.Market. Now it's trying to get back to the racing track
Aaditya Sharda, co-founder, Infra.Market
Image: Neha Mithbawkar for Forbes India
Mumbai, March 20, 2022 It was Sunday, a day after Holi. Hue dregs of all kinds—orange, red, yellow, green—were still splashed on the floor. Aaditya Sharda, though, could spot only one colour: Black. The co-founder of Infra.Market, a B2B online (business-to-business) infra procurement unicorn valued at $2.5 billion, was jolted out of his sleep when the Central Board of Direct Taxes (CBDT) issued a media release around noon. A large number of incriminating evidences were seized during a search operation conducted by the Income Tax (IT) department, underlined the press document. “Evidences revealed that the group has booked bogus purchases, made huge unaccounted cash expenditure and obtained accommodation entries, aggregating to the tune of over ₹400 crore,” it alleged.