wordpress blog stats
Connect with us

Hi, what are you looking for?

ShopClues co-founder files defamation suit against wife and colleague: report

Sandeep Aggarwal, co-founder of ShopClues has filed a defamation suit against his wife Radhika Aggarwal and his colleague Sanjay Sethi, who are also the co-founders of the company, according to this PTI report. The legal suit comes after Sandeep’s allegations that his wife Radhika had ousted him from the company illegally without his knowledge.

In a Facebook post last week, Sandeep alleged that his wife “fraudulently…changed (his) voting rights” at ShopClues without his knowledge. He also accused her of falsely inflating her educational qualifications and work experience in order to secure a senior role at ShopClues. However, Sandeep has apologised for his “emotional outburst” on social media.

According to the report, his PR team put out a statement saying that “Sandeep has been wronged on multiple counts by people he trusted the most. He is deeply hurt and while he stands by each and every word, he regrets having made the emotional outburst and using public media to express it.” Radhika currently is the Chief Business Officer at ShopClues. She has however denied these allegations, the report added.

Sandeep’s involvement in trading fraud

Note that Sandeep Aggarwal is also tangled in a fraudulent insider trading involving a US-based investment Company called SAC Capital. FBI agents had arrested Sandeep Aggarwal on insider trading charges in July 2013 and he had been charged with one count of conspiracy to commit securities fraud and one count of conspiracy to commit wire fraud. Sandeep later pleaded guilty to insider trading charges in November 2013 in a federal court. He was also sued by the U.S. Securities and Exchange commission, which later barred him from trading in the US.  Sanjay Sethi then took over Sandeep as ShopClues CEO in Late 2013.

Advertisement. Scroll to continue reading.

The PTI report quoted ShopClues PR team as saying that Sandeep was “separated” from ShopClues in 2013 following the criminal charges. He, however, held an advisory role at ShopClues. Sandeep then went on to form Droom in 2015—an online automobile marketplace.


ShopClues has raised over $200 million from multiple investors like Tiger Global, Helion Ventures, Nexus Venture among others.  In January last year, it raised $100 million in a Series E round. At that time, the company said it plans to float an IPO by 2017. It also raised another $100 million in January 2015 through multiple funding rounds.

You May Also Like


India had 747.4 million wireless and wireline broadband connections at the end of December 2020, an increase of 3% over a three-month period, according...

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
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