Flipkart , India ’s largest ecommerce company , sparked a dictation war between U.S. giant Amazon and Walmart this class — the succeed bid for a majority stake from the latter was an eye - popping$16 billion . Less than half a year later on , its carbon monoxide - founder and CEO Binny Bansal has reportedly step down follow an accusation of sexual rape .
The allegement came from a former employee , and interrelate to an incident some geezerhood back , concord toReuters . Bansal deny the claims , and a Walmart home investigation could not “ corroborate the plaintiff ’s assertion , ” according to an unusualSEC filingabout the CEO ’s deviation ( emphasis ours ):
His decision follows an sovereign investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct . He strongly denies the allegement . Nevertheless , we had a province to ensure the investigation was careful and thorough . While the investigation did not witness grounds to confirm the complainant ’s affirmation against Binny , it did reveal other lapses in judgement , peculiarly a lack of transparency , have-to doe with to how Binny responded to the situation . Because of this , we have accept his decision to relinquish .
We ’ve reached out to Walmart for information on what lapses in judgment in Bansal ’s response are being referred to here and will update if we hear back .
Bansal ’s persona will be filled by Kalyan Krishnamurthy , who previously held a subordinate CEO position .
Update 11/13/18 11:51am EDT : Someone familiar with the thing elucidate that those odd passages in the SEC filing were meant to muse Binny ’s deficiency of cooperation with the internal investigation .
[ Reuters ]
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