Info Edge (India) Limited , the parent company of popular real estate portal 99acres, has initiated an investigation following a whistle-blower complaint alleging policy violations by employees in its 99acres business vertical.

Complaint and Investigation

According to a corporate filing by Info Edge, the company received a whistle-blower complaint that accused certain employees within the 99acres division of violating company policies. In response to these allegations, Info Edge's Audit Committee and Board of Directors have taken swift action by appointing a reputed specialist law firm to conduct an independent and comprehensive investigation into the matter.

Company's Response

Jaya Bhatia, Company Secretary & Compliance Officer of Info Edge, stated in the filing, "The Audit Committee and Board of Directors have appropriately noted the contents of the allegations and mandated a reputed specialist law firm to independently and comprehensively investigate the matter."

Financial Impact and Ongoing Assessment

As of now, Info Edge reports that there is no material impact on the company's financial statements. The assessment by the appointed law firm is currently ongoing, indicating that the full extent and nature of the alleged violations are still under scrutiny.

Whistle-Blower Policy

Info Edge has emphasized that the complaint will be handled in accordance with the company's established whistle-blower policy. This policy, which outlines the procedures for addressing such complaints, is publicly available on the company's website.

Transparency Measures

In line with its commitment to transparency, Info Edge has disclosed this information to both the National Stock Exchange of India Limited and the BSE Limited. The company has also made this information available on its corporate website, www.infoedge.in , for public access.

The outcome of this investigation could have implications for Info Edge's 99acres business vertical, which is a significant player in India's online real estate marketplace. Stakeholders and investors will likely be watching closely for any updates on this matter and its potential impact on the company's operations and reputation in the competitive digital real estate sector.

Info Edge , the parent company of popular job portal Naukri.com, has reported a significant decline in white-collar hiring activity for August, according to its Jobspeak platform.

August Hiring Trends

Info Edge's Jobspeak platform reported that white-collar hiring dropped to 3.00% in August, down from 7.00% in July. This represents a substantial decline in hiring activity within the white-collar job segment during this period.

Naukri Jobspeak Index

The company has recently made available its Naukri Jobspeak Index Report for August on its official website. This monthly index serves as a barometer for the Indian job market and hiring activities, based on new job listings and job-related searches by recruiters on Naukri.com's resume database.

Comprehensive Job Market Insights

The Naukri JobSpeak Index captures hiring activity across multiple dimensions, including:

• Industries
• Cities
• Functional areas
• Experience bands

This multi-faceted approach provides a comprehensive view of the current employment landscape in India.

Implications for Job Seekers and Employers

The recent decline in hiring activity could indicate a tightening job market, particularly in the white-collar segment. Job seekers may face increased competition for available positions, while employers might have a larger talent pool to choose from.

Info Edge's report serves as a valuable resource for understanding the pulse of the Indian job market, offering insights that can guide both job seekers and employers in their decision-making processes.