"There is absolutely no investigation going on with respect to the CFO," Binny Bansal, the chief executive officer of Flipkart told ET.He dismissed all social media and internal speculation of an alleged fraud inquiry by PricewaterhouseCoopers. Bansal did not comment on these tweets.Meanwhile, Flipkart has given Nitin Seth, the additional responsibility of overseeing business finance. "It’s time for me to do something different, which is not going to be ecommerce," Sanjay Baweja told ET adding that his departure will not have any negative impact on Flipkart’s fundraising plans. "There is no active fundraising process and I am leaving the company in very good hands," Sanjay Baweja said.Flipkart has seen a spate of top leadership changes in recent months. In January, Binny Bansal was named CEO to run all business areas, while the former CEO Sachin Bansal moved to an executive chairman role to focus on fundraising, M&A and lobbying.

Source: Economic Times October 27, 2016 03:41 UTC