Why Was Ankiti Bose Fired From Zilingo?

Ankiti Bose Fired From Zilingo: The co-founder of Singapore-based Fashion technology start-up Zilingo Pte, has been fired. The action was taken following an independent forensic audit into complaints of serious financial irregularities. She was earlier suspended on March 31 after complaints of alleged discrepancies in the company accounts.

Zilingo said in a statement, "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"

Zilingo hired an independent firm to conduct a probe into the complaints of financial irregularities.

The details of the allegations against Bose or the findings of the audit were not mentioned. Bose has, however, denied all the allegations.

Ankiti Bose, the co-founder of Singapore-based Fashion technology start-up Zilingo Pte, has been fired after suspension on March 31 on the basis of complaints of alleged discrepancies in the company accounts. 

In a separate statement given to Bloomerang News, she said that the employment was terminated on grounds of “insubordination." Ankiti Bose had also earlier proposed to pay back the debt of about 40 million dollars.

More about Zilingo

Zilingo is a Singapore-based Fashion technology start-up that works with thousands of apparel factories and merchants in South Asia and Southeast Asia. It connects them to retailers worldwide and was valued at nearly $1 billion in its last funding round in 2019. It provides logistics, financing, and other services to factories and merchants. Both Bose and Dhruv Kapoor had founded the company in 2015.

The company in its statement to Reuters said, “Due to Zilingo’s failure to fulfill prior obligations under the loan agreement, the company’s lenders have made the decision to accelerate the repayment of the entire loan.”

Ankiti Bose's statement

She took to Instagram and shared, "I have been suspended for the last 51 days on the basis of an anonymous whistle-blower complaint, and today I am informed that my employment has been terminated inter alia on grounds of 'insubordination"

I have neither seen the Kroll nor Deloitte reports and not been given sufficient time to produce any documents requested by them. Any report that comes out post my termination would be vitiated as it seems to be instructed by conflicted parties, and we will pursue our rights against this witch-hunt to the full extent of the law. I will be speaking on record shortly with more details about the conflicts of interest in the manner this process was run," Ms Bose said.

She added that she and her family have been receiving online threats and she will speak on record shortly with more details about the conflict of interest in the manner the process was run. Here's the full post.

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