(Image source from: Hindustantimes.com)

Flipkart Group CEO Binny Bansal Resigns After Sexual Assault:- Binny Bansal, the head of Warlmart India's Flipkart Group submitted his resignation after a serious personal misconduct allegation. A statement has been issued by Walmart about this and going into the details, Binny Bansal has been involved in a sexual assault after which he has been asked to resign. This 37-year-old billionaire joined hands with Walmart to compete with Amazon in India and emerged as the largest portal for online trading in the country. Binny Bansal sent a letter to Flipkart employees but he didnot disclose the nature of the accusations.

Binny Bansal has been working as Flipkart CEO from January this year and he was left in deep shock with the allegations. An investigation is on and Binny Bansal believes that he would step out with a clean chit. The sexual assault incident took place years ago but it came to light this year. Kalyan Krishnamurthy who is the head of Flipkart's e-commerce operation will now take the role of the Chief Executive position. Walmart paid $16 billion for a 77-percent stake in Flipkart in May this year.