By Abhay Ray 
Introduction
Homegrown burger chain Burger Singh has issued a witty clarification, denying recent reports that it raised ₹47 crore in funding. The company responded to a story by startup news platform Entrackr, calling it premature, and explaining the confusion with a generous dose of humour. The July 17 report had claimed that Burger Singh had secured ₹47.15 crore in a new funding round co-led by Negen Value Fund and Nine Rivers Capital, with participation from Rhodium Trust and 19 other investors. But in a statement shared with the press, Burger Singh said- Not yet.
About Burger Singh
Burger Singh Founded by Kabir Jeet Singh is the only Made-in-India brand to compete with the international giants and is one of India’s fastest-growing and most highly successful burger chains in the QSR category. The company launched its first outlet in 2014 in the city of Gurugram, and since then, the chain has seen a rapid rollout across India, with 175+ outlets in 75+ cities like Delhi NCR, Mumbai, Pune, Kolkata, Shillong, Jaipur, Dehradun, Jammu, Nagpur, Ahmedabad, Amritsar & others. The chain is also known for being the first Indian burger chain to establish an international presence with three outlets and one food truck in London. Burger Singh has seen tremendous success not only in tier 1 cities but also in tier 2 & 3 cities, by being the better product-market fit. With the recent pre-series B funding round Burger Singh is now valued at INR 430 crores.
Burger Singh’s Response: Not So Fast
Shortly after reports surfaced claiming Burger Singh had raised ₹47.15 crore in a fresh funding round, the company issued a witty denial. They clarified that while an MGT-14 filing was submitted to the Ministry of Corporate Affairs, no money had actually been received. The filing merely represents a board resolution to raise funds, not a confirmation of investment. In a humorous statement, Burger Singh said, “Still waiting for the money. Not yet, at least,” and likened the situation to listing a house for sale—not the same as selling it. They confirmed the deal isn’t closed, investors haven’t transferred funds, and no final paperwork has been signed.
Why the Mix-Up Happened: Misreading of MGT-14 Filing
The confusion stemmed from a misinterpretation of an MGT-14 filing, a regulatory document submitted to the Ministry of Corporate Affairs (MCA). This form simply records a company’s internal board resolution to approve actions like raising funds—it does not confirm that any money has been received or that the deal is finalized. Some media outlets mistook this procedural step as proof of a completed funding round. Burger Singh clarified that while such filings are a necessary part of the process, they’re just the beginning, not evidence of closure.
Legal and Procedural Clarification
Burger Singh emphasized that an MGT-14 filing is a pre-funding step, not legal confirmation of money received. The form indicates that the company’s board has approved a resolution to raise funds, but it does not mean investors have agreed, transferred funds, or signed final agreements. In their words, “Legally speaking, an MGT-14 is a pre-offer document, not a receipt.” The full process still requires investor consent, fund transfer, and contract execution—none of which had occurred at the time of the report.
Witty Analogies Used in the Denial
Burger Singh’s response stood out for its humor and sharp analogies:
- Real Estate Analogy: “It’s the corporate equivalent of listing your house on 99acres. Doesn’t mean it’s sold, the money’s in, and we’re lighting cigars with ₹2000 notes.”
- Cricket Comparison: “It’s like declaring India won just before Siraj takes guard. Sometimes the ball trickles back and knocks off the bails. So do your hopes.”
- Food Critic Metaphor: “It’s like reviewing a restaurant based solely on the smell from the kitchen. Wait till we serve the dish.”
- These clever lines reinforced the message: no deal is done until the money’s in the bank.
Media Communication & Missed Messages
Burger Singh acknowledged that the media outlet Entrackr did reach out to verify the funding news. However, the company explained that CEO Kabir Jeet Singh didn’t respond because his phone is constantly flooded with unknown messages. In their words: “He gets more unknown-number WhatsApps than a housing society aunty gets forwarded videos during Navratri.” The humorous remark highlighted the practical challenge of media outreach in today’s hyper-connected world, while subtly defending the CEO’s silence amidst the report’s circulation.
The Final Word from Burger Singh
Burger Singh wrapped up the clarification with a light but firm message: the funding is not finalized, and no money has hit their account yet. They emphasized that they’ll only announce a fundraising round once all investor commitments are confirmed and funds are received. Ending on a cheeky note, they said: “It’s like reviewing a restaurant based solely on the smell from the kitchen. We’ll announce the fundraiser when it’s real.”
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