New Delhi [India], February 18: In the age social media, it is quite casual for public to get carried away by the circulating rumours. In the same fashion many people trusted the false news and rumours about Sustainkart and its founders Shilpa Reddy and Kanthi Dutt. Once upon a time- India’s largest e-commerce marketplace for sustainable products has shut down almost an year ago, due to a personal choice of the founders, not wanting to tank millions of dollars of investor money into the start-up. The venture also had Samantha Ruth Prabhu, Kajal Agarwal, Keerthi Suresh as partners in an undisclosed capacity.
Kanthi Dutt has clarified that the celebrities were only sweat equity partners for different verticals, but have not invested any liquid capital. Busting the rumours spreading about the celebrities lodging complaints against the founders, Kanthi Dutt clarified that no celebrity or investor have created any legal issues to the company or the former founders. The celebrity partners and the founders remain to be friends and well acquainted. “I followed a wise man’s suggestion to pull the plug before it’s too late”, Dutt stated in a closing statement about Sustainkart winding its operations.
In an interview with Deccan Chronicle, Dutt also clarified that the news about India Accelerator filing a lawsuit against the founders is FALSE and has no reality attached to the spreading news. He also repented about partnering with India Accelerator, a 7 year old Delhi based accelerator film that has no successful story or startup in its kitty, while Sustainkart being the biggest venture in their basket. Shilpa Reddy sparkled these rumours with her confusing statements about the exit, which Dutt later clarified that it was only a business decision taken mutually to not waste money in the name of sustainability without proven Product Market Fit.
Kanthi Dutt Estate and Holdings, a new real estate venture was observed to have been registered. Speculations are that Kanthi Dutt is marking a footprint into real estate and housing domain in partnership with Rizwan Sajan, a Dubai based entrepreneur and founder of Danube projects. Kanthi Dutt, a Hyderabad based 25 year old entrepreneur was talked about in the controversy about Sustainkart, which he proudly cleared before moving on to his next. Reports also state that another venture of his, Tritiyaa Fine Jewellery with Parineeti Chopra as a brand ambassador and investor will soon be launching in the UAE market. The indirect news came to light when Dutt marked his location as India/Dubai in his Instagram bio. Shilpa Reddy on the other hand continues to advocate sustainability on her Instagram platform, while blogging on her international trips.
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