Zomato offers clarification on not informing exchanges about co-founder Gupta's exit

Zomato offers clarification on not informing exchanges about co-founder Gupta's exit

Photo: Zomato

Food delivery aggregator Zomato clarified on Saturday that it did not inform stock exchanges about the resignation of co-founder Gaurav Gupta as he was not designated as a key managerial personnel. Stock exchanges BSE and NSE had sought clarification from the company yesterday on reports of Gupta’s exit as it was not declared on the bourses.

“With reference to your email dated September 17, 2021, on the captioned subject, we would like to submit that Gaurav Gupta is not designated as a key managerial personnel under the Companies Act, 2013 and the Listing Regulations,” Zomato stated in its clarification.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter