India’s Shailendra Singh has stepped down from the board of troubled Zilingo Pte following questions concerning the high-profile Singapore start-up’s accounting practices, based on folks conversant in the matter.
Singh, a managing director on the influential enterprise capital agency, resigned as a director a couple of week in the past, after the departures of Temasek Holdings Pte’s Xu Wei Yang and Burda Principal Investments’ Albert Shyy, stated the folks, asking to not be recognized as a result of the transfer hasn’t but been made public.
All three companies have been distinguished backers of the style e-commerce platform as soon as hailed as a logo of Southeast
Asia’s booming web financial system.
Sequoia and Zilingo declined to remark. Sequoia plans to nominate a substitute and nonetheless holds the board seat.
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