In a bid to become profitable, Saarthi AI, a Bengaluru-based startup conducted mass layoffs last year and has allegedly withheld the salaries of many employees since March 2023. Now, Saarthi AI's CEO claims his passport with a US visa was stolen by a former employee, who the company laid off.
In July, Vishwa Nath Jha, the founder and CEO of Saarthi AI, informed news agency PTI that the company had to fire some staff to turn a profit. The layoffs were caused by "investor pressure," he said.
A report released today in Entrackr gives the narrative a new angle. Speaking to the tech news website, Jha stated that he is unable to travel overseas to raise additional funding for the struggling company since a top employee seized his passport.
“While I managed to reissue a new passport, I am yet to get the US visa again. It’s a long queue,” Jha said.
Jha said that Saarthi AI hasn't deposited TDS on behalf of its workers for the last two fiscal years, adding to the number of complaints. He expresses optimism despite these disclosures, saying the company aims to turn a profit by the second quarter of 2024. Jha added that the business is actively looking for additional funding to help with its financial difficulties.
Saarthi AI is currently facing a difficult situation: its creator is unable to travel, its workforce is uncertain, and the company is struggling to survive. It remains to be seen if they can turn things around, but one thing is for sure: this is a tech tale that is far from finished.
