Zilingo Founder Files FIR Against Co-founder and Former COO Over Fraud Allegations

Zilingo’s founder Ankiti Bose has taken legal action by filing a First Information Report (FIR) against her co-founder Dhruv Kapoor and former Chief Operating Officer (COO) Aadi Vaidya. The allegations include cheating, fraud, criminal intimidation, and instances of sexual and mental harassment within the company.

In a detailed six-page complaint, Bose highlighted the deceptive actions of Kapoor and Vaidya, labeling them as ‘sneaky and shady’ individuals who concealed vital company-related information. She accused them of engaging in misleading activities aimed at securing financial gains and pressuring her to surrender shares and business ownership under false pretenses.

Bose specifically pointed out that Vaidya, as the COO, was involved in misconduct by wrongly attributing loss-making deals to her and extending trade credit to various parties in her name. This behavior was utilized to coerce her by falsely linking her to investors. She emphasized that Vaidya’s actions led to fraudulent attempts to acquire her shares valued at significant amounts.

Responding to the accusations made by Bose, Dhruv Kapoor denied the claims, asserting that Bose was terminated from the company due to her own misconduct, which is currently under scrutiny. Kapoor maintained that the allegations against him are baseless and purely retaliatory in nature.

Similarly, former COO Aadi Vaidya refuted the accusations, labeling them as unfounded and emphasized that the claims were likely made to tarnish his reputation and cause distress.

Zilingo, a technology and commerce platform, was co-founded by Bose and Kapoor in 2015. The company’s valuation soared to Rs 7,000 crore in 2019. However, in 2022, Bose was dismissed by the company board following an investigation conducted by Kroll, which delved into alleged financial irregularities.

The inquiry into the financial discrepancies prompted Zilingo to terminate Bose’s employment, with the company reserving the right to pursue legal action as deemed necessary. The fallout between the co-founders has cast a shadow over the once successful startup, drawing attention to internal conflicts and the potential impact on the company’s future.