Flipkart Group CEO Binny Bansal resigns after allegations of ‘misconduct’
New Delhi, Nov 13: Flipkart co-founder Binny Bansal has resigned as the company’s group CEO, following an internal investigation conducted by both Flipkart and its parent firm, Walmart, into an allegation of “serious personal misconduct,” the two companies said in a joint statement.
Bansal, 37, has strongly denied the allegations, the company said in a statement. Bansal and his representatives could not be reached for comment.
“While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation,” the company said.
“Because of this, we have accepted his decision to resign.”
Kalyan Krishnamurthy, who heads the company’s main Flipkart e-commerce operation, would now act as chief executive for a broader group of businesses including apparel websites Myntra and Jabong, the company said.
Walmart earlier this year agree to pay $16 billion for a roughly 77 percent stake in the Indian e-commerce firm, Amazon’s main rival for India’s 1.3 billion consumers.
It was the U.S. retailer’s largest-ever deal and a major move in its efforts to oppose Amazon at home and abroad.
Courtesy: www.hindustantimes.com
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Congress misleading public on National Herald case, matter still in court: BJP
New Delhi (PTI): The BJP on Wednesday accused the Congress of running misleading propaganda over the trial court's decision in the National Herald case and said the court refused to take cognisance of the complaint but did not set aside the case.
The case is still pending trial in the Delhi High Court, and the trial court in its order on Tuesday said that the Enforcement Directorate (ED) can continue its investigation, BJP national spokesperson Gaurav Bhatia asserted.
"The court yesterday (Tuesday) said that since it is a private complaint and no FIR has been lodged, it will not take cognizance of it. It's a technical matter. The court also said that ED can continue its investigation further. The court did not set it aside," Bhatia told a press conference at the BJP headquarters here
"Its trial is still going on. Sonia Gandhi is still Accused Number-1 and Rahul Gandhi Accused Number-2," the BJP spokesperson said, alleging, "The Gandhi family thrives on deceit, deception, and propaganda."
