Binny Bansal resigns from Flipkart over allegation of 'personal misconduct'

"These have been challenging times for my family and me. I am concerned that this may become a distraction for the company and the team"

Flipkart co-founder Binny Bansal on Tuesday resigned as chairman and group CEO of the Walmart-backed e-commerce company with immediate effect, following an investigation into an allegation of “serious personal misconduct” against him. A Reuters report said the resignation stemmed from an allegation of sexual assault that dated back a few years. It quoted a person familiar with the matter as saying the complainant was a former Flipkart associate who was not with the company at the time of making the allegation. The news agency could not reach Bansal for comment.

While the investigation, which was conducted by an independent law