India, Feb. 15 -- A startup founder has claimed that his company suffered a loss of over Rs.2 lakh after hiring a candidate who allegedly fabricated key details on his resume. Taking to LinkedIn, Ashutosh Gupta, Chief Business Officer at Praper Media, shared the experience, writing, "We hired someone who lied about everything on their resume. By the time we found out, we'd lost 2 lakhs."

Gupta explained that the incident occurred when the company was smaller and did not consider background checks essential. "Back when Praper was smaller, background verification felt unnecessary. So we hired based on interviews and gut feeling. If someone seemed good in the interview, we brought them on," he wrote.

Gupta said that the candidate, referred...