Flipkart Group CEO Binny Bansal quits over 'serious personal misconduct' charges

Agencies
November 13, 2018

New Delhi, Nov 13: Flipkart Group CEO and co-founder Binny Bansal Tuesday resigned following a probe into an alleged "serious personal misconduct", the firm's new parent Walmart said.

Bansal, 37, has strongly denied the allegation, the American retail giant said in a statement.

His decision to step down follows an independent investigation done on behalf of Flipkart and Walmart, even though the probe "did not find evidence to corroborate the complainant's assertions against Binny", it said.

While the statement did not provide details of the "personal misconduct" allegations against Bansal, sources indicated that the complainant was associated with Flipkart a few years ago and is now running her own venture.

This, however, could not be independently ascertained.

The statement pointed out that the "deliberate and thorough" investigation "did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign".

Bansal's resignation as the CEO of Flipkart Group is with immediate effect. He was serving as the Group CEO after Walmart's mega USD 16 billion investment in the Bengaluru-based company.

Sachin Bansal, the other co-founder (not related to Binny), had left Flipkart after selling his entire 5.5 per cent stake to Walmart as part of the deal.

Walmart's statement said the recent events "risked becoming a distraction for the company" and Binny had made a decision to step down.

The statement pointed out that Binny had been contemplating a transition for some time and that the company (Walmart) had been working together on a succession plan, which has now been accelerated.

Kalyan Krishnamurthy will continue to be CEO of Flipkart, which will now include Myntra and Jabong, continuing to operate as separate platforms within the Flipkart business, the statement said.

Ananth Narayanan will continue as CEO of Myntra and Jabong and will report to Krishnamurthy. Sameer Nigam will continue to head PhonePe -- Flipkart's payments unit -- as CEO.

Both Krishnamurthy and Nigam will report directly to the board, Walmart said.

"We remain committed to investing for the long-term and are supportive of the leadership team's desire to evolve into a publicly-traded company in the future," it added.

In an internal email, Krishnamurthy sought to assuage employee concerns stating that "there will be no changes in our operating processes, or to the mission of the company as a result of this news".

"Flipkart will continue to invest heavily in supply chain, innovation and technology, with a focus on optimising operations, and empowering employees... For Flipkart to keep succeeding, it is crucial for our teams to thrive, and we will continue to do everything possible to ensure you are given the opportunity to do just that," he added.

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News Network
May 30,2020

May 30: A total of 513 domestic flights carrying 39,969 passengers were operated in India on Friday, Civil Aviation Minister Hardeep Singh Puri said on Saturday.

Domestic services resumed in India after a gap of two months due to the coronavirus lockdown. Indian carriers have operated a total of 1,827 flights till Thursday -- 428 on Monday, 445 on Tuesday, 460 on Wednesday and 494 on Thursday.

Puri said on Twitter on Saturday: "Day 5. 29th May till 2359 hrs. Departures 513. 39,969 passengers handled. Arrivals 512. 39,972 passengers handled." A departure is counted as a flight during the day.

During the pre-lockdown period, Indian airports handled around 3,000 daily domestic flights, aviation industry sources said.

In February, when the lockdown was not imposed, around 4.12 lakh passengers travelled daily through domestic flights in India, according to Directorate General of Civil Aviation (DGCA) data.

Airports in West Bengal, Andhra Pradesh, Maharashtra, Telangana and Tamil Nadu have been allowed to handle a restricted number of daily flights as these states do not want a huge influx of flyers amid the rising number of COVID-19 cases.

While domestic services resumed in Andhra Pradesh on Tuesday, they restarted in West Bengal on Thursday.

Though domestic flight operations across the country began on May 25, they could not be restarted in Kolkata and Bagdogra as the West Bengal machinery was involved in relief and restoration work after cyclone Amphan's devastation.

A total of 16 asymptomatic passengers on seven different flights, including 13 who travelled by IndiGo, have tested positive for COVID-19 since the resumption of domestic air services.

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News Network
June 25,2020

India has jumped past 4.5 lakh coronavirus cases and 14,476 people have succumbed to the viral infection so far. In this backdrop, speaking to IANS in an exclusive interview, AIIMS Director Randeep Guleria said India is also vulnerable to second wave of coronavirus and people should continue to follow social distancing, wearing mask and other precautions, after cases begin to decline.

He added that in order to contain the outbreak of Covid-19, a limited lockdown in hotspots, where volume of cases is very high, may be considered along with a micro-plan to prevent leakage of cases from these areas to other non-containment areas. Excerpts of the interview are below:

Q: Reports say China and South Korea are witnessing a second wave of coronavirus infection, what is this second wave, is India also vulnerable to this?

A: When cases come down significantly, people tend to drop their guard against the viral infection, and this leads to the second wave (which means a sudden increase in the number of cases). After cases begin to decline, people should continue to follow the precautions -- continue to maintain social distancing and wear masks regularly. See what happened in Singapore, it was struck by a second wave of coronavirus. Look, what happened in the 1918 pandemic, people dropped their guard and the second wave of viral infection struck back. If people do not follow social distancing then the spike in cases is apparent. We need to take these precautions at least for one year. India is also vulnerable to this second wave.

Q: If Covid-19 cases continue to rise rapidly, do you think we need another lockdown in areas where volume of cases are very high?

A: A large volume of cases is concentrated in specific areas like hotspots, and in order to maintain things in order, we may need a limited lockdown in these areas. This should be followed by a micro-plan which entails extensive testing of people and also extensive contact tracing of people who have got in touch with positive people. Need to ensure there is no leakage of cases from these areas. People from these areas should not mix with others in non-containment areas. This will aid in containing the outbreak of the virus. People who have developed symptoms should get themselves tested, especially in the containment areas.

Q: With more than 4.5 lakh cases and close to 14,500 deaths, do you think India has reached its peak and a decline in cases is prominent?

A: The cases will continue to increase for some time. The doubling time of cases has also increased. But, the cases will also begin to flatten. Though, it is difficult to give an exact time period in this viral infection, it seems, the growth in cases will flatten in the end of July or beginning of August. A decline will come to this viral infection, but it does not mean that people should drop their guard. As a measure, we need to decrease community participation and citizens should continue to follow social distancing. People should get themselves tested. All these efforts will help in preventing people from contracting this virus. These precautions will also prevent us from the second wave, and we must continue to take precautions. The virus has not gone away, it is still lurking.

Q: India has crossed the 4.5 lakh coronavirus cases so far, although our recovery rate is good, but still 10,000 to 15,000 cases are reported daily. Why do cases continue to spiral, what is the reason?

A: We have to remember a few things -- the bulk of cases are in 10 cities, nearly 70 per cent, and if we take into account cases per million population, the number is not very high, as compared with countries including countries in Europe. Many European countries put together still do not add up to the Indian population. Do not compare India to countries like Italy, Spain etc. We need to focus on hotspots, which contribute to between 70 -80 per cent of cases, and we have to identify cases in these areas at an early stage. The population density is very high in these cities. People in lower socio-economic status are highly vulnerable to the viral infection, as many live together in small spaces and there is a lot of mixing of people happening there. Look at the market places, people are not following social distancing and not wearing masks. In fact, many are in close vicinity of each other.

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Agencies
March 29,2020
Agra, Mar 29: A 39-year-old man, who had walked almost 200 kilometers from Delhi to reach his home in Morena in Madhya Pradesh, collapsed and died in Agra on Saturday. 
 
The man, identified as Ranveer Singh, worked as home delivery boy for a private restaurant in the national capital.
 
According to police, the victim collapsed near Kailash turning of the national highway-2, after which a local hardware store owner Sanjay Gupta rushed to the victim. 
 
Sikandra station house officer (SHO) Arvind Kumar, said, 'Gupta made the victim lie on a carpet and offered tea and biscuit. The victim complained about chest pain and also called his brother-in-law Arvind Singh over phone to share his health condition. At around 6.30 P.m, the victim passed away and local police was informed. "
 
Ranveer had left for his native village on Friday morning on foot. It is likely that exhaustion of 200-km walk might have caused chest pain. 
 
The SHO said,"On the entire NH-2 stretch, UP policemen are present with food packets and water for such persons but Ranveer's death is unfortunate. "
 
After the death, policemen took the victim's body for post-mortem. The autopsy report is yet to be re eased. 
 
According to information available, Ranveer was working in Delhi's Tughlakabad for the past three- years. He is survived by three children including two daughters. He belongs to a family of farmers and was the main bread winner for his family.
 
His family has been brought to Agra to take the body back to their village for the last rites.

Comments

Angry Indian
 - 
Monday, 30 Mar 2020

very sad news....this is the condition of hindu people after they adopt hindutva idology.

 

Politician enjoying playing ludo and watching ramayan, after complete lockdown, not even bothered by government about their transport,

 

modi spend crore on statue, but no hospital

 

this is the hindu rastra you want right...enjoy marons

 

 

 

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