News digest: Bansal quits as CEO, promoters to sell stake in ZEEL, and more

Bansal will, however, continue to hold his stake in Flipkart, which stands at around 5 per cent. He would also remain on the company's board

Binny Bansal resigns from Flipkart over allegation of sexual assault

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.