Ankiti Bose has resigned from the board of the Singapore-registered Zilingo, weeks after she was removed as its chief executive officer. Bose announced her departure from the board in a statement posted to Instagram.
“Given the current circumstances, and due to the opacity of information to me as a board member and a shareholder, I have resigned forthwith from all directorships I hold with Zilingo’s holding company and any of its subsidiaries,” Bose wrote. She complained that the board had not given her access to reports by Deloitte and Kroll on the circumstances surrounding her dismissal.
“The Company has accepted Ms Ankiti’s resignation from her directorship positions, and is saddened to note that inaccurate claims have been made in the media of concealing relevant information from Zilingo’s Directors. The company continues to evaluate and actively pursue all real and credible options for the business,” Zilingo said in a statement to Entrackr.
Bose was first suspended and then fired from her role as CEO, and while the board and the company cited financial irregularities to raise more funds for the company, Bose has said in statements made through her online profiles and through her lawyers that these actions were retaliation to her bringing up harassment complaints to investors.
Zilingo denied this in a statement at the time of Bose’s firing, saying that a consulting firm it had hired to look into that allegation found no wrongdoing.
Meanwhile, the company itself is mired in deep straits, going in a matter of months from trying to raise millions of dollars to now battling for its survival. Bose alluded to that struggle in her statement, bemoaning the lack of progress in figuring out a path for the company. She wrote that “hundreds of employees and customers are also in a state of limbo and do not have any clarity on their future: just like me.”
According to several media reports, the Zilingo’s board is looking to liquidate the company to pay off creditors, a prospect that Bose is opposed to, arguing that this would leave employees in the lurch. Voting on a management buyout proposal was reportedly deferred too, leaving the company in a precarious situation.