South Asian Insider
Stunned by allegations; challenging time for my family and me: Binny Bansal
BENGALURU: In a strong rebuttal to allegations of personal misconduct by an unnamed complainant, Flipkart co-founder Binny Bansal in an email to employees, which was first accessed by TOI, said the allegations have left him stunned and he strongly denies them.
Binny, who resigned as CEO + of Flipkart group on Tuesday, said these have been challenging times for his family and him.
“For some time, I have been mulling over the right time to step away from an operating role at Flipkart Group. My plan was to continue in my current role for a few more quarters to continue the transition after closing the deal with Walmart. However, my decision to step down has been accelerated by certain personal events that have taken place in the recent past,” he said.
A Walmart statement to the stock exchange on Tuesday said that while an internal 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.
Bansal noted that the allegations were uncorroborated after a thorough investigation completed by an independent law firm.
“The allegations left me stunned and I strongly deny them. The investigation, however, did bring to light lapses in judgment, particularly a lack of transparency, related to how I responded to the situation. These have been challenging times for my family and me. I am concerned that this may become a distraction for the company and the team. In light of these circumstances, I feel it is best to step away as chairman and group CEO,” he said in the email.
Bansal said he will continue to be a large shareholder in the company and will continue to serve as a member of the board of directors.
“I am convinced that the company is in great hands with our experienced leaders - Kalyan, Ananth and Sameer. They have done an exceptional job running the businesses for many years now and with the support of Walmart that I have experienced, will continue to lead the company to even greater successes in the future.”
Two stars fight, and the image is stunning
Stars that have companions aren't always friendly to them, as evidenced by a stellar confrontation witnessed by astronomers. They studied the binary ...
Sex workers finally get 'honourable' funerals in Bangladesh
(News Agencies)-Often treated as less than human in life, there has been little dignity in death for the sex workers of one of the world's biggest b...
In tears again, victim's mother pleads for death warrant for 4 convicts
Demanding fresh death warrant, Asha Devi said, "I am here from one and half years, I am here and waiting for them to avail their legal remedies. Howev...
Delhi Police arrests 10 students in Gargi college molestation case
A case was registered against the ten accused under sections 452, 354, 509, 34 of the IPC at Hauz Khas Police Station. (News Agencies)-The Delhi ...
In AAP's victory, a lesson in transformative politics
The extraordinary political process that Delhi has witnessed this past month represents at once the maturing of the electorate within this "ordinary c...
How the AAP won, with some help from the BJP
Despite a patchy track record, the AAP captured the narrative. The Delhi BJP?had nothing to offer voters Delhi's outsized influence on the nationa...
Jammu and Kashmir: Detention is not the answer
Booking the former chief ministers under PSA is counterproductive The decision to book former Jammu and Kashmir (J&K) chief ministers Omar Abdulla...
Politics is shifting to the centre-right. Delhi proves it
Endorsing the religious practices of the majority, a strong nationalist pitch and populist welfarism is the new normal. Delhi is a riddle wrapped ...
Arvind Kejriwal appointed Delhi CM, 6 ministers to take oath
The 6 ministers who will take oath along with Arvind Kejriwal on 16 Feb are Manish Sisodia, Satyender Jain, Gopal Rai, Kailash Gehlot, Imran Hussain a...
Trump administration goes to war with states over Immigration
The Justice Department sues California and New Jersey to overcome enforcement roadblocks. The Trump administration dramatically escalated its war ...
© All rights Reserved. The south Asian, Published Weekly from New york.