Zilingo

Zilingo cofounder Ankiti Bose said she would be pursuing legal action against the board after being terminated from her position.

Besides this, Zilingo has appointed Deloitte to look into the allegations of sexual and workplace harassment that were raised by Bose after her suspension. The fashion startup was founded in 2015 by Bose and Dhruv Kapoor, who is the product and technology head. I have in good faith proceeded to be interviewed by Kroll on the very day I was told of my suspension. At the point of my purported termination, I have yet to be presented with the findings of both Kroll AND Deloitte and my reports being incomplete, the board has wrongfully terminated me today for “insubordination” without giving me a chance to address fully the concerns that have been raised. The two firms provided a loan of $40 Mn to Zilingo when Bose was the CEO in July 2021. I have been suspended for the last 51 days on the basis of an anonymous whistle-blower complaint which I have been told came in connivance.

She has been in a feud with the board and major investor Sequoia Capital India amid allegations of potential accounting irregularities.

“Paying heed to corporate governance makes good business sense and should not be viewed as a burden. They are also often charismatic and able to convince people to buy into their vision,” he said. Commenting on corporate governance issues that start-ups face, NUS Business School’s Professor Mak Yuen Teen noted that such issues are not uncommon.

On March 31, Bose was placed under suspension following complaints of alleged discrepancies in the company accounts. "Following an investigation led by an ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. This has caused irreparable damage to the Company, the board, employees and investors," Zilingo said. According to reports, Bose has lawyered up and disputed allegations of wrongdoing.

B2B ecommerce giant Zilingo on Friday confirmed that it has fired Ankiti Bose, the co-founder and former CEO of the company.

"This has caused irreparable damage to the Company, the board, employees and investors. Following the recall of loans by debt holders, an independent financial advisor was appointed by the Company which is in the midst of assessing options for the business. has been in the social media spotlight after the co-founder's suspension.has been in the social media spotlight after the co-founder's suspension.

(May 20): Zilingo Pte has fired co-founder Ankiti Bose, deepening a dispute over accounting practices that's plunged the once high-flying startup into ...

The startup Bose created with Dhruv Kapoor in 2015 is now the target of an investigation into its financial practices after auditors raised questions, Bloomberg News has reported. The co-founder has been locked in a feud with the board and major Zilingo investor Sequoia Capital India amid allegations of potential accounting irregularities. Bose has disputed the claims of wrongdoing, Bloomberg News has reported.

Singapore-based fashion startup Zilingo has fired its Chief Executive Officer Ankiti Bose after an independent investigation into "complaints of serious ...

Sequoia did not immediately respond to an emailed request for comment sent outside office hours. Founded in 2015 by Bose and Chief Technology Officer Dhruv Kapoor, Zilingo has become a global supply chain enabler for the apparel industry. Zilingo said the investigation concluded the company took appropriate action and followed due process to address these complaints. Temasek declined comment. Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

The chief executive officer (CEO) of Singaporean startup Zilingo Ankiti Bose has been fired after alleged accounting irregularities.

Zilingo said in its statement that it hired an outside firm to look into the harassment complaints, and that Bose’s suspension was not retaliatory. The PR firm that shared this release with Entrackr declined to identify the client on whose behalf it was sent. “Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the Company has decided to terminate Ms Ankiti Bose’s employment with cause, and reserves the right to pursue appropriate legal action,” a Zilingo spokesperson told Entrackr in a statement.

On May 20, the Singapore-based ecommerce firm sacked Bose for alleged financial irregularities after a months-long dispute.

Any report that comes out post my termination, would be vitiated as it seems to be instructed by conflicted parties and we will pursue our rights against this witch-hunt to the full extent of the law." Reacting to her sacking, Bose says, “I was suspended on the basis that the company had instructed Kroll to investigate the complaint. “You may have heard that there is an allegation made that certain individuals at Zilingo 'suppressed' complaints of harassment.

Singapore-based business-to-business (B2B) fashion startup Zilingo has fired its chief executive officer (CEO) Ankiti Bose after a brief suspension.

Zilingo, on May 20, addressed these complaints and dismissed Bose’s claim that was suspended for her harassment complaint. Advertisement Advertisement

The Sequoia Capital India and Temasek backed firm has maintained that Bose's suspension over the alleged discrepancies in the firm's accounts was a board ...

Bose who has continued to dispute the company’s claims, put out an Instagram post following her termination. Bose was suspended on March 31 after allegations of discrepancies in the company's accounts. The company said Bose's claims were investigated by a top consultant and appropriate action was taken, "A top consulting firm was appointed to look into the claims of harassment brought to the Board’s notice by Ms Ankiti Bose. The investigation has concluded that the company took appropriate action and followed due process to address these complaints that were brought to their notice, contrary to media reports that have suggested that the suspension and investigation into Ankiti Bose were aimed at suppressing the said harassment claims."

Zilingo—a high-profile fashion technology startup backed by Singaporean state-owned investor Temasek Holdings and Sequoia Capital India—has terminated the ...

Zilingo was cofounded in 2015 by Bose alongside Dhruv Kapoor, Zilingo's chief technology and chief product officer. Temasek—one of Zilingo’s biggest shareholders—had earlier expressed support for the investigation. “Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Bose’s employment with cause, and reserves the right to pursue appropriate legal action,” Zilingo said in an emailed statement on Friday.

The statement added that after Bose was suspended as CEO, she brought to the boards attention certain harassment claims but these did not include a ...

The article quoted an anonymous person who said she was a friend of the flight attendant. The report says Bose was called to a meeting with three board members on March 31 and told about “serious” complaints about discrepancies in accounts and mismanagement. The top reasons for firms failing, according to Kamath, include misjudging the market size, establishing unreasonable expectations, and chasing valuations. The statement added that after Bose was suspended as CEO, she brought to the board’s attention certain harassment claims but these did not include a complaint against any Zilingo investors or their nominees. Cofounder and chief technology officer Dhruv Kapoor pensa note to employees, defending the company. Nithin Kamath, founder of Zerodha, has been outspoken about thechallenges facing the startup community. The article quoted an anonymous person who said she was a friend of the flight attendant. After a stint at Sequoia Capital India, Ankiti Bose cofounded Zilingo with Dhruv Kapoor in 2015. Bose had been suspendedfrom the company on March 31. The top reasons for firms failing, according to Kamath, include misjudging the market size, establishing unreasonable expectations, and chasing valuations. The statement added that after Bose was suspended as CEO, she brought to the board’s attention certain harassment claims but these did not include a complaint against any Zilingo investors or their nominees. After a stint at Sequoia Capital India, Ankiti Bose cofounded Zilingo with Dhruv Kapoor in 2015.

Singapore fahion startup Zilingo has fired their CEO Ankiti Bose, and reserved the right to pursue appropriate legal action.

The aforementioned talks of further funding with Goldman Sachs would have made Zilingo a unicorn, but the talks have since broken down. Bose’s firing also comes a week after Zilingo’s creditors recalled their loan, and Zilingo has since appointed a financial advisor despite Bose’s offer to pay off the debt. She has since denied any wrongdoing, and called the suspension a “witch hunt”. In a separate statement to Bloomberg News, she stated that the firing was on grounds of insubordination.

Singapore-based fashion startup Zilingo has fired its Chief Executive Officer Ankiti Bose after an independent investigation into "complaints of serious ...

Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com

MUMBAI : Zilingo Pte, an e-commerce platform for the apparel industry, has fired its chief executive officer Ankiti Bose, following an investigation by a ...

The company, however, said that Bose had been terminated ‘for serious financial irregularities’. Bose said she had neither seen the investigator’s reports nor had been provided time by the company to furnish supporting documents. Calling her termination a witch-hunt, Bose said she would pursue her rights to the full extent of the law.

Zilingo CFO Ramesh Bafna quit within two months of joining the company, and sources say Zilingo has not paid salaries after March 2022.

This indicated that the company was not earning enough revenue to cover the interest on loans it had taken in its lifetime till 2019. Other founders told Inc42 that employee salaries are typically the first item budgeted in the annual expenditure of a startup. As seen in Zilingo’s latest audited financial performance (filed in November 2020), the company incurred a loss of $236.5 Mn in the financial year ended March 2019. As per earlier reports, Bafna was brought on to steady the ship after the suspension of cofounder and CEO Ankiti Bose in March this year. The exit of Bafna is just another setback for the B2B fashion startup that was very close to raising another funding round when all hell broke loose, sources had told Inc42 earlier. Besides this, Zilingo is said to have appointed a financial adviser in light of the loans worth $40 Mn recalled by the company’s debtors.