ShopClues

Shopclues saga: Sandeep Aggarwal files FIR against his estranged wife and business partner

ShopClues

Months after Sandeep Aggarwal, founder of online marketplace ShopClues, publicly accused his wife and co-founder Radhika Aggarwal of pushing him out of the company, has filed an FIR against his estranged wife (chief business officer at Shopclues) and CEO Sanjay Sethi.

The FIR alleged forgery and cheating by the duo.

According to an ET report, in the complaint, Aggarwal has claimed that Radhika and Sethi have misappropriated funds and attempted to revoke Aggarwal’s voting rights.

“This FIR has been registered against Radhika and Sanjay Sethi, who are presently running ShopClues, on the complaint of her husband Sandeep Aggarwal, who presently runs company Droom Technologies, alleging that while he was facing prosecution in the US for insider trading, his wife Radhika and Sanjay cheated him, and took signatures on wrong papers and committed forgery and have usurped the company,” said Vijay Aggarwal, Sandeep’s legal counsel, in a statement to ET.

Sethi and Radhika have denied accusations of misgovernance and have maintained that Aggarwal lost his voting rights, at the time of pleading guilty to insider trading charges in 2013.

Aggarwal, the single-largest shareholder in the company, had written off his voting rights in 2013 when he was being investigated by the Federal Bureau of Investigation for insider trading during his stint as an analyst at Collins Stewart in the US.

Sandeep Kapur, Partner at Karanjawala & Co, the legal representative of Radhika Aggarwal and Sanju Sethi responded and said, “Sandeep Aggarwal was arrested by the Federal Bureau of Investigation (FBI) and is awaiting his sentence in the US Courts. He has filed the present FIR while concealing the fact that he has previously made an attempt on similar grounds at Economic Offence Wing in Gurgaon wherein the investigating authorities were pleased to file a closure report in favour of the management of Shop Clues.”

In March this year, Aggarwal had made the allegation in an elaborate Facebook post alleging that his wife had an extra-marital affair with a co-founder of the company. It later appeared that the real fight is over the founder’s voting rights.

ShopClues

Shopclues saga: Sandeep Aggarwal files FIR against his estranged wife and business partner

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