Overview

• In a July 20 press release, Burger Singh refuted claims that it had secured ₹47.15 crore from Negen Value Fund, Nine Rivers Capital, Rhodium Trust and other investors
• The chain attributed the error to a misreading of its MGT-14 submission to India’s Ministry of Corporate Affairs, which merely signals an invitation to potential shareholders
• Leveraging real estate and cricket analogies, Burger Singh illustrated that filing an invitation does not equate to money in the bank
• The company confirmed that no investors have signed agreements or transferred funds and pledged to announce any genuine round only after transactions are completed
• The episode underscores how regulatory filings can be misinterpreted by media outlets as confirmed startup fundraises