Sunday, 17th November, 2019

Snippets

Not carrying cash with him, Entrepreneur gives stake in his company to traffic police after violating traffic rule

03, Sep 2019 By Santosh Pradhan

Mumbai. With the new hefty traffic fines kicking in, people are facing a problem in handing out so much cash to the traffic police. But Entrepreneurs need not worry as Sanil Jain, Co-Founder of CupShup has shown them a new way.

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Sanil paid his traffic fine by giving out a stake in his company to the policemen. Sanil was caught violating a traffic rule on Tuesday, and when the traffic men demanded the fine, he was unable to give the fine in cash as most entrepreneurs don’t carry so much cash. It was then that an idea struck him and he offered a little stake in his company, an official stake which would be given to the traffic department.

After a lot of discussions, the traffic men agreed to take the stake. The traffic department believes that the valuation of Sanil’s company will increase in the coming months and the cash generated after increased valuation would be much more than the cash which they would have collected today. Sanil is a great example of Digital India, Startup India, and other shining campaigns. It is innovation from people like him that will eventually make India the ‘Vishwa Guru’