Binny Bansal abruptly resigned as Flipkart chairman and group chief executive following an internal investigation into an allegation of ‘serious personal misconduct’ against him. Binny Bansal’s Flipkart exit shocked the start-up ecosystem. Binny Bansal would use the payments from Walmart to invest in startups, the two people cited earlier said. These have been challenging times for my family and me,” Binny Bansal wrote in an email to Flipkart employees last month. In an interview last week, Flipkart CEO Kalyan Krishnamurthy declined to comment on Binny Bansal’s exit and how the matter was handled by Walmart.

Source: Mint December 19, 2018 01:41 UTC