Invoice-discounting marketplace TradeCred has lodged a criminal complaint with Mumbai Police’s Economic Offences Wing alleging that supply-chain platform Bizongo and several of its investors diverted customer payments and misappropriated at least Rs 69 crore. The 26 June filing cites potential irregularities of up to Rs 124 crore and names Bizongo founders Sachin Agrawal and Ankit Tomar, CFO Gaurav Singhania, current chief executive Prahlad Krishnamurthy and investor representatives from Accel, B Capital, Chiratae Ventures and the International Finance Corporation. According to the complaint, between August 2024 and April 2025 Bizongo sold more than Rs 250 crore of invoices via TradeCred under an escrow arrangement meant to protect investors. TradeCred alleges that customer repayments were instead routed to Bizongo’s own accounts, allowing the company to draw both the upfront financing and the final receivables. It cites dishonoured cheques worth Rs 40 crore and says Rs 81 crore, including penalties, remains unpaid. Bizongo denies wrongdoing, saying all repayments were made into a common escrow structure agreed with TradeCred and that it has reduced outstanding dues to Rs 66 crore while submitting a settlement plan for the balance. The company says it wound down the questioned supply-chain-finance vertical last year and that its new raw-materials procurement business has turned profitable. The Economic Offences Wing has acknowledged receipt of the complaint but has not registered a First Information Report. Bizongo and the named investors say they have not yet received formal notices; the startup says it will cooperate with any inquiry.