Ankiti Bose Resigns From Zilingo's Board

Claims that she didn't receive any report pertaining to the ongoing investigations regarding alleged misconduct from the board despite multiple queries

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In a statement issued on her Instagram account, fashione-commerce platform Zilingo's co-founder and former CEO Ankiti Bose informed that she has stepped down from the company's board of directors. Bose relieves her positioning from the company's board as well as its holding company's and subsidiaries.

Ankiti Bose
Ankiti Bose, Co-Founder, Zilingo

She was fired last month from her CEO position from the Sequoia Capital backed startups after multiple complaints regarding financial irregularities surfaced. The board also said that it reserves the right to pursue legal action against her after the allegations surfaced. The board has been probing Zilingo's accounting practices and payments.

In her post, Bose alleges that despite many requests the board has not shown her any report pertaining to any investigations into her alleged misconduct. She further said that other material information pertaining to the company's working had also been kept from her during this time.

"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 shareholder, I have resigned forthwith from all directorships I hold with Zilingo's holding company and any of its subsidiariesm," she said.

The company itself has been on a rough patch, to say the least. The board has been debating over the future of the startup and were also looking into the option of a management buyout or liquidation.