Shopclues’ Sandeep Aggarwal files FIR against co-founders in fight to control company - Hindustan Times
close_game
close_game

Shopclues’ Sandeep Aggarwal files FIR against co-founders in fight to control company

Hindustan Times, New Delhi | ByRajesh Ahuja and Suchetana Ray, New Delhi
Sep 26, 2017 10:54 PM IST

Aggarwal has alleged that his wife Radhika and Sanjay Sethi cheated him and took signatures on wrong papers and committed forgery in order to usurp the company.

ShopClues founder Sandeep Aggarwal on Tuesday filed an FIR against his estranged wife Radhika Aggarwal and Sanjay Sethi, both co-founders of the shopping portal, for allegedly usurping the e-commerce company from him.

Shopclues’ founder Sandeep Aggarwal has accused his wife Radhika and co-founder Sanjay Sethi of forgery to usurp the company from him.
Shopclues’ founder Sandeep Aggarwal has accused his wife Radhika and co-founder Sanjay Sethi of forgery to usurp the company from him.

On the directions of a Delhi court, an FIR has been registered against Radhika and Sanjay who are the chief business officer and chief executive officer of Showclues, respectively.

Now catch your favourite game on Crickit. Anytime Anywhere. Find out how

“The main allegation in the FIR is of forgery to usurp Shopclues from Sandeep Aggarwal and the subsequent misappropriation of funds. It is also alleged that attempts have been made to revoke Sandeep Aggarwal’s voting rights,” said Sandeep’s lawyer Vijay Aggarwal.

Sandeep has alleged that while he was facing prosecution in the US for insider trading — for which he has pleaded “not guilty” — Radhika and Sanjay allegedly took his signatures on wrong papers and committed forgery in order to usurp the company from him.

Shopclues, an online marketplace, was founded in 2011 by the Aggarwals and Sanjay Sethi. Sandeep handed over the reins of the company to his wife in 2013, when the case was filed against him in the United States.

Sandeep’s involvement in day-to-day operations had ceased since then, but he continued to be the largest shareholder in the company.

Following allegations by Sandeep Aggarwal against Radhika and Sanjay in March through Facebook posts, the two sides have filed several cases against each other. There is also an ongoing case of alleged adultery filed by Sandeep Aggarwal in a Gurgaon court.

Sandeep had moved an application under Section 156(3) CrPC, seeking direction from the court of Sandeep Garg, the additional chief metropolitan magistrate in Saket court complex to register an FIR alleging that efforts are underway to take control of ShopClues from him. The court allowed the application on Tuesday.

Sandeep claims he was the original founder and brains behind ShopClues, which is valued at over a billion dollars, and largely caters to Tier-II, III and IV cities in India.

“Sandeep Aggarwal was arrested by the FBI and is awaiting his sentence in the US Courts and has filed the present FIR while concealing the fact that, he has previously made an attempt on similar grounds at Economic Offence Wing in Gurgaon but the case was closed in favour of the management of ShopClues. Mr Aggarwal is also out on bail in India and facing trials on the charges of criminal defamation, violence and outraging the modesty of women. The initiation of the instant FIR and seeking a media trial is nothing but an attempt by Mr Aggarwal to continue to malign the reputation of ShopClues,” said Sandeep Kapur, the legal representatives of ShopClues, in a statement.

Elevate your career with VIT’s MBA programme that has been designed by its acclaimed faculty & stands out as a beacon for working professionals. Explore now!

See more

Get latest updates on Petrol Price along with Gold Rate , Today Weather and Budget 2024 at Hindustan Times.

SHARE THIS ARTICLE ON
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Monday, June 24, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On