Zilingo fires Indian-origin CEO Ankiti Bose after complaints of financial irregularities

Mangalore Today News Network

New Delhi, May 20, 2022: Singapore-based fashion company Zilingo on Friday, May 20, fired its Indian-origin co-founder & CEO Ankiti Bose following an investigation into complaints of financial irregularities, it said in an emailed statement.

 

The findings of the audit have not been shared by the firm, neither did they elaborate on the allegations levelled at Bose.

Though in a statement to Bloomberg News, Bose said her employment was terminated on grounds of “insubordination."

Bose made harassment-related allegations after she was suspended in March. The firm in its statement said, "On April 11th, after her suspension on March 31, Ankiti Bose brought to the board’s attention, for the first time, certain harassment-related issues pertaining to past time periods... The investigation has concluded that the company took appropriate action and followed due process to address these complaints that were brought to their notice..."

The startup supplies technology to apparel merchants and factories and was created by Bose with Dhruv Kapoor in 2015. Singaporean state holding company Temasek and Sequoia Capital are among its investors.

It is now the target of an investigation into its financial practices after auditors raised questions. Kroll Inc is leading a probe into its finances.

Bose has disputed the claims of wrongdoing, Bloomberg News has reported. Bose was suspended from her duties on March 31.