The co-founder of India's largest e-commerce company stepped down as group CEO and Chairman on Tuesday over allegations of personal misconduct
Binny, 37, has also strongly denied the charges and said he was "stunned" by the allegations
"These have been challenging times for my family and me. I am concerned that this may become a distraction for the company and the team"
Binny Bansal strongly denies the allegation
'His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct', the US SEC filing says
Binny Bansal is one of the most high profile of India's new generation of young, tech-savvy billionaires.
His resignation marks the exit of both the founders of India's largest e-commerce firm
In this Sep 2016 interview with Business Standard, Bansal said firm was all about team work