WTF! SOME RESPECT SOME PRIVACY PLEASE!

I fail to understand how a company that does or tries to do compliance for a living doesn't have any POSH compliance or policy in place protecting women employees from their employers.

taking advantage of students.. fckdup!

if you are an intern at signalx you will be getting hit on by (seniors) your reporting or management team or you will be given impossible tasks really inhuman or impossibly hard. Work which you cannot complete in given time or quit as it will force you to refund the salaries done at the last couple of months of every internship signalx manages to get free labour from unsuspecting students given impossible tasks impossible deadlines and if no return of money no certificate and if its a college graded course ofcourse you get a fail. 

Signal X Scavenger Story!

 

The scavenger story of signalx starts from its previous avtaar nebulae that started out of disbanded kaddy a story of failed leadership deceit theft and backstabbing.. 

Naveen, Naveen, Chirag, Piyush and Govind Balachandran starting Kaddy Analytics, building an edutech product for schools. Naveen assumed the role of CEO, while Chirag took on the responsibilities of CTO. Their early days were marked by rapid progress, and they swiftly built and delivered their product, garnering initial traction and revenue.

However, the harmonious dynamic soon unraveled. Govind, who joined the company later, began to openly critique every aspect of the CEO's duties, fostering a hostile atmosphere. This eventually led to a rift within the team, resulting in Naveen's ousting as CEO, and Govind, with promises of customers and funding, took the ceo role. Unfortunately, Govind failed to deliver on those promises, and the company shut down soon after.

In a twist of fate, Naveen was invited to join a startup called Bulbul Labs that sky rocketed thru his incredible leadership, And Govind and the remaining team idle unable to do raise funds or develop business approached Praveen Mohite, CEO of Nebulae, attempting to sell the product built at Kaddy Analytics in exchange for positions within the company. This was done without Naveen's knowledge, despite his significant equity in the former company. When the question of ownership arose, Praveen simply offered them jobs to work on his edutech product for which they raised a small fund from Zakir Wahab, not a conventional investor someone who specialises in acquiring funds (black to white).

After a year of waiting, Zakir sought progress updates, but the team deflected responsibility onto Praveen, suggesting his removal to put them in charge of Nebulae. Zakir then acquired Praveen's equity but redirected the funds to the team to develop the product, effectively ousting Praveen from the company under the threat of legal action.

Lacking confidence in the domain they started, the team pivoted without informing to zakir to developing a B2B sales product, copying a startup from Thub. However, their inexperience in enterprise problems and sales led to a failure to acquire customers. They then attempted to copy another Thub startup, but this endeavor also failed to generate revenue. Tensions escalated between Govind and Chirag, with the abuse escalating from mental to verbal and eventually turning physical, prompting Chirag and team departure from the company. 

Govind, confronted by Zakir for the invested money, convinced him that the old team was responsible for losses and suggested equity in the new company. Govind then started a new company, SignalX, with Piyush a junior developer in nebulae as CTO and zakir as a co-founder, raising funds by presenting reports they had purchased from a competitor as their own.

During an annual board meeting, when the team failed to demonstrate progress since the investment, a motion was passed to remove Govind as CEO. However, both Zakir and Govind, who hav by them depleted the entire investment on their salaries (Zakir's takes the highest salary next to govind the deal between them to get zakirs nebulae investment back), both managed to shift the blame onto Piyush and the team, successfully ousting Piyush as CTO. and also taking his equity threatening legal action the same way it was done all the before times.

They then hired an external team of experts to help fix and build the product, but the team too left midway due to non-payment of funds. To this day, the company lacks a stable product it had never had AI which they lied to their earlier investors they burned all of their investment around $800k and unaccounted expenses, failing to build a viable product or offering, failing to raise the next round of funding. Instead, resorting to selling data of MSME (Micro, Small & Medium Enterprises) registered companies, telling larger companies to choose different vendors to avoid paying these smaller firms on time and risk potential lawsuits.

During this on going tumultuous period, Govind and Zakir found themselves embroiled in a series of legal battles from their Former co-founders and ex-employees these lawsuits against them, citing posh cases, harassment, pending salaries, and wrongful terminations. Govind getting summoned multiple times by GST officers for alleged money laundering. etc., Govind and Zakir resorted to false allegations to scare  people and unfounded accusations as justifications for withholding salaries and firing employees without proper notice periods or compensation. Their tactics extended to delaying the issuance of joining letters for up to six months not paying PFs, effectively trapping employees from leaving the company even after a year of service. 

The company is taking loans secure and insecure loans to cook books and to retain minimum developers and sales personnel, who have been promised equity at a future date. Currently, the company is operating at one-fifth of its original size, its future hanging in a precarious balance, as the legal battles and investigations continue to plague Govind and Zakir's dubious business practices. the company currently owes 4cr in debt, loans and pending payments

Govind almost got fired by the investor!

Govind nearly lost his job as the CEO due to issues in managing the company's cash flow and finances. The biggest reason investors fire founders and CEOs is negative surprises related to cash management.

In Govind's case, there were a few key problems that nearly led to his termination:

Excessive spending: Govind was spending the company's money far too quickly, depleting the cash reserves at an unsustainable rate. The founders were taking huge salaries. This spending discipline issue concerned the investors.

Inaccurate reporting to the board: Govind was not providing the board with reliable information about the true status of the company's cash runway. He was misinforming them about how long the existing funds would last.

Lack of financial oversight: Govind was so disorganized in his financial management that he himself was unsure of how much money the company was actually spending. This lack of visibility and control over the finances caught both Govind and the investors by surprise.

Effective cash flow management and transparent communication with the board are crucial for maintaining the trust of venture capital investors. Govind's struggles in these areas nearly cost him his role as CEO, as negative surprises in these areas are a leading reason investors choose to fire founders.

Govind and Zakir basically blamed piyush for all the oversight and fraudulent paperwork to get him fired and threatened legal action to get his equity back, To us we were told piyush is in absconding and we are in middle of fundraise so we will be getting in help to finish the deliverables, old employees were reached out to with promising esops and ontime salaries after the raise that never happened and they are still facing same mental abuse. the company since then to now is running on a skeleton team of 11 and all the work equalent to 40+ is given to them without weekends off there is no reduction in salaries of the founders since then. 

The truth about the company!

When pointed out by an intern that signalX doesn't have AI.. Govind CEO of the company said if they wanted they can build ai in six months but no body cares its just a gimmick people write on their website to get customers! No investor ever asked him about AI. 
 

why do all employees of signalx join a competitor even at a reduced salary ? why does signalx harm businesses by selling their msme registration details to their customers ? where is the ai in signalx ? what were they sellings for last five years ? why there is no reply or refund when bad report with false data is given ? all the things signalx is doing is it even legal definetly not moral or ethical.

Why am i sharing this ?

I work for the worst ever company (SignalX) and like many others without pay sometimes paid sometimes i get put on PIP sometimes i dont even know if i am still in it. for months togethier my salary is withheld and also without paying PF (8 months) and with 6 months less of service as they only give offer letter after 6 months of joining to prevent anyone from leaving due to the bad work culture even the letter of joining has current date and not the original date of joining and no matter what this has always been the case with everyone. 

many who had enough of their mental abuse just left i never said anything as i was focused on many personal things but when current employees of that company are reaching out asking for help and telling they are ready to quit if only they give a NOC or an experience letter which they never give even if salaries are kept on hold. they fired there CTO their HR quit people try to leave and unknowingly new comers join in no paperwork is done first few months then when asked you get excuses the loop continues.. this company has the worst retention place people quit at very bad mental state as well as with loss of pay of atleast 2 to 3 months abuse is not just mental it has gotten worse with one of the founders almost hitting an employee and firing him at point with no reason for questioning the ethics of business all this is triggering all the mental abuse i have faced from the founders as well..

i hope these posts put light as to what is ok and what is not ok on how employees should be treated and what rights employees have towards protecting themselves. 

Share your stories with @signalx.ai email ids. will publish them here annonmously!