Zilingo, the Singapore-based fashion start-up, recently fired its Co-founder & Chief Executive Officer (CEO) Ankiti Bose, following an enquiry into complaints of financial irregularities.
As per reports, the fashion start-up had earlier suspended its Indian-origin Co-founder in March this year while handing over investigation into the so-called financial irregularities to an independent entity.
Meanwhile, in a communiqué, Zilingo underlined it has decided to terminate Ankiti Bose’s employment with cause, and reserves the right to pursue appropriate legal action following the probe by the independent forensics firm, commissioned to look into complaints of serious financial irregularities.
Zilingo, however, did not get into the details of the allegations against Ankiti or for that matter the findings of the audit.
Ankiti, in a separate statement to Bloomberg News, reportedly held ‘insubordination’ as the ground for termination of her employment.