Ankiti Bose resigns from Zilingo board

Struggling fashion e-commerce firm Zilingo's co-founder and former CEO Ankiti Bose on Thursday said that she has resigned from the company's board, including the holding company and any of its subsidiaries.

Last month, the Singapore-based B2B fashion start-up, which is backed by Sequoia India, had fired Bose from the position of CEO over complaints of serious financial irregularities.

In the statement, Zilingo also said that it reserves the right to pursue appropriate legal action. “Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose’s employment with cause, and reserves the right to pursue appropriate legal action," the company's statement had read.

Taking to social media, Bose posted today, "It is heartbreakingly clear to me that hundreds of employees and customers are also in a state of limbo and do not have any clarity on their future – just like me. Real lives and jobs have been at stake."

She also added, "This is a difficult time for my Zilingo team, and I want to assure all my beloved Zilingo colleagues that my resignation as a board member is not in conflict with my commitment to save the company."

Here’s the full statement from Ankiti Bose as posted on Instagram:

“Over the past few months, despite my requests, the Zilingo board has failed to show me any report (issued by Kroll or Deloitte) which pertained to any investigations into the company or into my alleged misconduct, and why or how these were used to terminate my position as CEO.

This was notwithstanding that I remained a board director in the group’s holding company and its subsidiaries, and despite the fact that I remain a shareholder of the company. During this time, other material information pertaining to the company has also been concealed from me.

At the same time, spokespersons and “leakers” have been busy spewing nasty media narratives, which is to the detriment of all concerned.

It is heartbreakingly clear to me that hundreds of employees and customers are also in a state of limbo and do not have any clarity on their future – just like me. Real lives and jobs have been at stake.

Given the current circumstances, and due to the opacity of information to me as a board member and a shareholder, I resign forthwith from all directorships I hold with Zilingo’s holding company and any of it’s [sic] subsidiaries.

This is a difficult time for my Zilingo team, and I want to assure all my beloved Zilingo colleagues that my resignation as a board member is not in conflict with my commitment to save the company.

I will always fight for you and alongside you. I will unflinchingly support *any* plan that saves the jobs at Zilingo and I would once again request every Zilingo shareholder to try and look past our differences and personal agenda, and prioritise what is best for our people who have given their blood, sweat and tears to our company.”

 

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