SINGAPORE, May 13 (Reuters) – Troubled style know-how startup Zilingo’s debtholders have determined to recall their whole loan after the Singapore-based firm missed cost obligations, main it to nominate a monetary adviser to evaluate choices, its board mentioned on Friday.
The seven-year-old firm board suspended its CEO and co-founder Ankiti Bose in March with the backing of main buyers, pending a probe by an impartial agency they employed.
Backed by buyers together with Sequoia Capital India and Singapore state investor Temasek, privately-held Zilingo introduced in April a probe into what it described as “matters”, and which sources have mentioned refers back to the firm’s “accounting practices.” learn extra
A lawyer for Bose has mentioned that she declined to touch upon her suspension or the investigation.
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Reporting by Anshuman Daga; Editing by Sumeet Chatterjee and John Stonestreet
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EXCLUSIVE Singapore Zilingo debtholders recall loan after missed payments -board & More Latest News Update
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