The recently inquiry by Pricewaterhouse Coppers (PWC) really shook the corporate world, when the news about fraud within Flipkart started circulating the web. The recent events have led company’s CFO Sanjay Baweja’s exist, which fueled the case.
Seeing the rising interest of the public in controversy Flipkart’s CEO Binnay Bansal said, “There is absolutely no investigation going on with respect to the CFO.”
Moreover, Bansal dismissed any speculation regarding internal fraud in the company and clarified the exist of Baweja, which according to him, was going on for nearly two-and-half months. The company is now seeking to fill the CFO position.
The public isn’t satisfied to what Binny is saying or they think he’s trying to cover something that’s underlying, but needs to scratch to bring it to the surface.
An anonymous twitter user questioned Binny about the backing off of Walmart as their big investor post legal inquiry. Binny chose to ignore the question that raised many eyebrows and people wondering about the future of Flipkart employees post the serious allegation of fraud going in the company.
Nitin Seth was recently appointed as Chief Administrative Officer has been assigned additional duties to oversee the finances as well. The roles are changing with key people leaving and boarding the ship.
Earlier this year, Binny was named as the new CEO of the company and former CEO, Sachin Binny, was appointed as executive chairman to focus on fundraising, M&M and lobbying.
No matter what happens, Flipkart is the only eCommerce company in India that give stiff competition to Amazon and even outranks them in terms of sales. Recently Flipkart’s big billion was much bigger success than Amazon’s Great Indian sale.
Article By: Sonam
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27 Oct, 2016 – 11:35pm