Lendingkart’s $600M collapse sparks Fullerton takeover and founder lawsuit
Lendingkart’s rapid Covid‑era expansion saw its valuation plummet from $700 million to under $100 million, depleting cash reserves. Fullerton Financial Holdings, a Temasek unit, boosted its stake to 77%, ousted founder Harshvardhan Lunia and rescued the firm. Lunia has now petitioned the NCLT, accusing Fullerton of oppressive actions and demanding an independent probe.