wordpress blog stats
Connect with us

Hi, what are you looking for?

Flipkart CFO Karandeep Singh Resigns

Karandeep Singh, Chief Financial Officer at Flipkart.com has quit the company citing personal reasons. This was first reported by Nextbigwhat. Flipkart has confirmed this resignation to Medianama, although it didn't disclose who will replace Singh as the company's CFO. Its also not clear as to where Singh is headed next. Singh had joined Flipkart in January 2012 and had been with the company for only an year. Prior to this, he was serving as the Vice President (Finance) & Managing Director at Sapient Corporation Pvt. Ltd and has had stints at Dell, Moser Baer, Ariba and Yum Brands. Enforcement Directorate Raid At Flipkart This resignation comes amid the Enforcement Directorate raid on Flipkart's offices on November 30, to investigate alleged violation of FDI regulations, although Flipkart had denied that any such raid took place. Indian government had referred Flipkart and Bharti Walmart to the Enforcement Directorate for alleged violation of FDI regulations in November 2012. Even the Minister of State for Commerce & Industry Dr. S. Jagathrakshakan, had mentioned in a written reply to a question in the Lok Sabha, that the Reserve Bank of India had informed that matters related to Bharti Wal-Mart/ Cedar Support Services Limited and M/s Flipkart Online Services Pvt. Limited, respectively, had been referred to the Directorate of Enforcement for further investigation, and that violation of FDI regulations was covered by the penal provisions of the Foreign Exchange Management Act, 1999 (FEMA). FDI In Retail Earlier in 2012, the Government had permitted Foreign Direct Investment in multi brand retail upto 51%, but had clarified that the policy did not extend to e-commerce.…

Please subscribe/login to read the full story.
Written By

Free Reads

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

News

Using Google Photos the Israeli Army enhanced the facial recognition technology of Corsight AI which was made to identify Hamas associated people

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ