BINNY BANSAL QUITS FLIPKART OVER CHARGES OF PERSONAL MISCONDUCT
Flipkart co-founder and group chief executive Binny Bansal on Tuesday abruptly resigned from the company, following an internal investigation into an allegation of “serious personal misconduct”, sending shockwaves across India’s startup ecosystem. Walmart-owned Flipkart didn’t specify the allegation but one person familiar with the matter said it was related to an alleged sexual harassment by Bansal in 2016. The investigation did not find any evidence to support the allegation that was made by the complainant. But it showed “lapses in judgement” on Binny Bansal’s part, said Walmart, adding that the episode revealed “particularly a lack of transparency, related to how Binny responded to the situation”. officer (CEO) Aditya Ghosh to lead its operations in India and South Asia. Ghosh, who spent more than a decade heading India’s largest airline IndiGo (InterGlobe Aviation Ltd) and resigned in July this year, will report to Ritesh Agarwal, founder and group CEO at Oyo Hotels and Homes, the company said. Ghosh is one of the most sought after top executives in India’s corporate ecosystem. after being named in a corruption chargesheet by the Central Bureau of Investigation (CBI). “Ashok Chawla, non-executive (independent) chairman of the board has tendered his resignation on 14 November with immediate effect,” the bank said in a late evening exchange filing on Wednesday. Chawla attributed his decision to personal reasons, a person with direct knowledge of the matter, said on the condition of anonymity. was “discriminatory” against some financial creditors. “The objective of the Insolvency and Bankruptcy Code is resolution (and) the purpose of the resolution is for maximization of the value of assets of the corporate debtor,” the tribunal ruled on Wednesday.
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