Zilingo, a Singapore-based fashion technology startup announced on Monday that its board members are decided to take some necessary steps. The Company is decided to suspend its Indian origin CEO or CO-founder Ankita Bose from her post due to suspected accounting irregularities made collectively by the board, not by anyone investor.
"After getting certain complaints regarding serious nature, the Board placed the CEO, Ankita Bose on suspension pending a full investigation," the Zilingo company said in a strong-worded statement.
Zilingo company further said that Ankita Bose put some serious allegations related to harassment just after she was suspended on 31st March from her CEO post by the company's board members and no other investors and board members were aware of such allegations. However, the company did not elaborate on the allegations against its Indian origin ex-CEO.
Dismissing claims that a large shareholder in the company was behind the decision to suspend Bose, the company stated that "this decision was taken jointly by the Board and the relevant shareholders according to pre-agreed shareholders' voting rights and does not reflect the decision of a single shareholder."
Zilingo, an online fashion firm that provides technology to garment retailers and factories, Ankiti Bose and Dhruv Kapoor created this company in 2015.
In response to claims that Bose claimed she was harassed, Zilingo stated that the suspended CEO just informed the board of the concerns on March 31st and that the complaints do not involve harassment by any investor or board member.
"We would like to emphasize that, following her suspension on March 31, Ankiti Bose brought to the board's attention, for the first time, several harassment-related claims," the statement added. "To be clear, no previous or current investor candidates on the Board were made aware of the harassment charges until she was suspended."
"These allegations do not claim harassment by any investors or past/current Board members," it noted. Zilingo was one of Singapore's most high-profile businesses until this month's allegations about an accounting inquiry and the CEO's suspension. Temasek, which is also located in Singapore and is funded by the government, has voiced worry that the breakdown is tainting the business's reputation and has asked the corporation to rectify the problem.
Zilingo earlier asserted that its shareholders and board members were informed of anomalies that needed to be investigated, and those big investors were then authorized to suspend Bose.