Zilingohas fired its chief executive officer (CEO) Ankiti Boseafter a short suspension.
- She was suspended on March 31 due to discrepancies in the company’s accounts.
- The step was taken following an independent forensic investigation into complaints about serious financial irregularities.
Singapore-based business-to-business (B2B) fashion startup Zilingo has fired its chief executive officer (CEO) Ankiti Bose after a brief suspension. The move was made following an independent forensic investigation into complaints about serious financial irregularities by Bose.
“Following an investigation led by an independent forensics firm commissioned to investigate complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose’s employment for cause and reserves the right to take appropriate legal action. Zilingo said in a statement. †
The eight-year-old startup did not comment on the allegations against Bose or the findings of the independent audit.
However, Bose has claimed she was fired on the grounds of “insubordination”.
Ankiti Bose, along with Dhruv Kapoor,
has been running Zilingo since 2015† She left her position as an investment analyst at Sequoia Capital at age 23 to launch her own company, Zilingo, and moved to Singapore a year later.
She was suspended on March 31 due to discrepancies in the company’s accounts. Bose even disputed these allegations and also contested her suspension.
She claimed the company’s actions are a “witch hunt” triggered by harassment complaints she filed against an investor in the company.
Zilingo addressed these complaints on May 20, rejecting Bose’s claim that it had been suspended over her harassment complaint. “On April 11, following her March 31 suspension, Ankiti Bose first brought to the attention of the board of directors certain harassment-related issues related to prior periods, including no complaints of harassment against investors or their nominees,” the company said. .
Worst for Indian startups is yet to come – be prepared for layoffs, unicorn delay and startup shutdowns in 2022
eMudhra IPO: Checkout Financial Performance, Business Outlook, Analysts View in 10 Points
About 8,000 people affected by redundancies at start-ups in India