Amid Mass Layoffs, Ex-employee Robs Bengaluru CEO's Passport, US Visa

After laying off a large number of employees, facing allegations of non-payment of salaries, and striving for profitability, CEO Nath Jha of a Bengaluru-based startup, Saarthi AI claims that a former employee stole his passport, which contained a US visa.

In an interview with Entrackr, Jha claimed that a senior employee stole his passport, preventing him from travelling abroad to raise capital for the firm.

“While I managed to reissue a new passport, I am yet to get the US visa again. It’s a long queue,” Jha said.

Saarthi AI CEO Vishwa Nath Jha stated in July that the company had to lay off employees due to investor pressure.

Speaking about discontent among employees regarding non-payment of salaries, the founder denied the accusations and said they were meant to defame the AI startup. 

However, current and former employees reported not receiving their pending salaries after mass layoffs. The company also admitted to not depositing TDS for the last two fiscal years and mentioned working to become cash flow positive.

Jha said, “The startup is still not generating surplus cash to clear long-standing dues. We have been transparent in our communications with the concerned ex-team members. We are working hard to become operationally cash flow positive by Q2 of 2024 to sustain company operations and support our current team members. Additionally, Saarthi.ai is actively in talks with investors to raise fresh capital to address outstanding debts and liabilities,”

Social Media Reaction:

Online users are empathising with the former employee who stole CEO Nath Jha's passport and US Visa.

One user wrote, "While startup challenges are known to everyone, the last point takes the cake ! Former employee stole CEO's passport "

Another user commented, "Bizzare story"

A third user replied, "Good thing IMO Many are trying to make quick bucks in AI bandwagon"