How a web of deceit undid unicorn Gameskraft
The allegations come in the midst of a chaos of independent directors, the role of the auditor and the government’s ban on the latest real money games.
Between 2021 and 2022, four independent directors resigned from the company board months after participated. An exit in a month. This includes Rajesh Lohia and Uesh Gambling Ram. Two of them took office on March 8, 2021 and only seven months later, another person joined.
Lohia and Ram wrote the same but the same resignation letters to Gamekraft’s Board of Directors, “There have been activities that were not carried out by supporters and their partners, teams and others, and therefore I want to tender immediately by putting my resignation into force”.
On December 12, 2021, a third director Nitin Kumar resigned only 33 days after joining the board. On December 23, 2021, the fourth director Abhishek Uphayay joined the Board of Directors. 27 -year -old Upadhyay from Uttar Pradesh came out of the board in August 2022 eight months later.
Four former directors did not respond to the requests of comments. Queries to Gameskraft founding partners did not respond.
Gameskraft spokesman, “Gameskraft will provide and offer all support to the authorities investigating this issue. The issue is under investigation by the authorities, we can not comment on this issue,” he said.
Prabhu was dismissed by the company when it was claimed that the company’s bank account was allegedly accepted by the company’s bank account in an E -mail dated 5 March 2025.
Meanwhile, the company’s General Manager Vikas Gradija and the founding partner and business officer Divya Alok Agarwal resigned from the board of directors and resigned from the company from this July.
Prithvi Singh, one of the founding partners, took over as the CEO of the company.
Grandja and Agarwal did not answer queries about why behind their resignations.
According to a ruler for developments, the Board joined Trilegal, a law firm, a law firm, a law firm, shortly after receiving the “alleged e-mail ından sent from an unofficial account of Prabhu on March 5th. Trilegal also took part in Grant Thornton to make a judicial analysis and to interview individuals. Later, the Law Office submitted a report to the Board after Gameskraft decided to submit a police complaint against Prabhu on 9 September.
The Gameskraft Board now contains two people: Prithvi Raj Singh and Deepak Singh. Gameskraft Prithvi Singh, Deepak Singh Ahlawat, Raj Kumarja, Sindhi giant Jha and Divya Alok Agarwal count five founders. Together, according to the latest shareholder data by the company, they have 86.31% of the end of March 2024. Eight angels had 9.67%of investors. Two former employees had 3.24%. Finally, Gameskraft’s Esop Trust had 0.78%.
There are light red flags about the quality of the company’s financial audits. Between 2019 and 2025 Prabhu Siphon LaAccording to the first information report by Bengaluru police, 250 Crore from the company’s bank account. He falsified bank statements and investment fund statements to believe that the company has withdrawn from the bank and invests.
In case of anonymity, a manager said that GameSkraft was working with four banks, including RBL. Each of the four banks has more than one bank account.
Auditors under review
Gameskraft’s legal auditor has signed financial statements, including these alleged bank statements and investment fund investment statements marked by experts. The auditors did not follow the necessary process to confirm these statements directly with the bank and investment fund.
“As part of legal audit, external approvals should be obtained by the legal auditor, because this evidence is obtained from an independent and direct reliable source.” He said.
MDA & CO, who signed in Gameskraft books, avoided commenting. “Since the issue is under investigation by law enforcement authorities, we cannot comment on this issue. Mint.
Nitin Gupta, the President of the National Financial Reporting Authority, is an E -Posta, a E -POSTA asking if the regulatory institution will investigate this section for the auditors.
Experts also marked the internal processes in the company that allows Prabhu to control the bank account alone. A simple producer control process, which is a standard application in companies, can prevent funding. Under the Maker-Checker system, a double verification workflow is used in which a manufacturer initiates a process and then approved by an independent controller to prevent error or fraud. According to the ruling feature of development, this was missing in Gameskraft.
V. Balakrishnan, the founder of Exfinity Ventures, a former financial manager and a venture capital fund of InfoS LTD, said, “The Gameskraft section is reminiscent of Satyam epic.” “A few, the fact that the independent verification of the concentrated power and auditors in the hands of the falsified document was not a prominent features of this previous scandal, and to see the history over again,” he said.
Balakrishnan said he was surprised that such a fraud could continue to be uncontrolled for five years. Authorized, auditors, management and the board of directors reflects badly. “He can hope that the regulators will act in a stable manner and to create a strong precedent to ensure that such confidence violations are never allowed to be repeated.”
Prabhu could not be reached for a comment.
The founding partners and investors of the company made money.
Gameskraft was spent La334 Crore points to the third back after the company has passed the company last year. La689 Crore in 2023-24 and LaAccording to statements made by the Ministry of Corporate Affairs by the Company, 128,31 Crore in 2020-21. Together, Gameskraft distributed LaSeven individual investors and many employees who will have shares within the scope of Gameskraft Esop Trust.
Gameskraft reported LaLast year, 3,895.99 Crore income, 12 %increase. However, profitability decreased by 25% La705.82 Crore, primarily due to an increase in other costs.
Only last year, in an interview, Prabhu gave confidence about Gameskraft.
“This is also a point where people began to talk about us,” Adam Prabhu in the eyes of the Storm, in a video interview in November Economic Times brand value. “To date, the company’s focus has not attracted the attention of PR and the media,” he said.
Today people are definitely talking about Gameskraft and Prabhu. But not the way Prabhu or the founders of the company want.
