The co-founder of the now-defunct fashion tech company Zilingo, Ankiti Bose, has filed a First Information Report (FIR) against her coworkers, Aadi Vaidya, the former COO, and Dhruv Kapoor, the co-founder. The first information report (FIR), which was submitted in April 2024, charges Kapoor and Vaidya with several offences, including fraud, deception, criminal intimidation, and—most gravely—sexual harassment.
2015 saw Bose, a former rising star in the tech industry in Southeast Asia, co-found Zilingo. The company immediately soared up and by 2019 had been valued at a staggering Rs 7,000 crore. It was a top B2B fashion platform. But in 2022, after an inquiry into purported financial irregularities, Bose lost her job as CEO, and things took a drastic turn.
Bose’s FIR shows an entirely different image. She claimed that it was Kapoor and Vaidya who participated in financial fraud, not her. She accuses them of operating in a “shady” manner, tricking investors, and withholding important firm information. These are severe accusations, and if they turn out to be accurate, Kapoor and Vaidya may face serious legal and financial consequences.
Even more concerning, the FIR recounts an alleged instance of sexual harassment carried out by Kapoor. Bose says that Kapoor acted improperly during a private encounter and sought to establish a nonconsensual intimate relationship. The details of the alleged encounter have not been released, but the allegation is a significant step in this case. It is important to note that these are only charges now, and Kapoor and Vaidya have not yet had the opportunity to reply publicly.
The revelation of the FIR has sent shockwaves throughout Singapore’s business sector. Zilingo, once a brilliant beacon of innovation, is now dealing with the hard realities of these claims. Investors that put money into the firm may be re-evaluating their selections, and Zilingo’s future, if it has one, needs to be more in doubt.