Online grocery delivery platform Zomato announced on Saturday that it did not pass the news of its co-founder Gaurav Gupta’s exit from the stock exchange to the stock exchange because he has not been identified as the company’s chief executive Or promoter.
In response to the clarification requested by the BSE, Zomato stated in a government motion: “…We would like to propose that Mr. Gaurav Gupta is not designated as a senior manager under the 2013 Companies Act and Listing Regulations.”
Gupta Joined the company in 2015, then was appointed as one of the co-founders in 2019, and was appointed as the head of supply in 2021.
“However, he is neither a promoter nor does he hold any shares in the company. Therefore, according to regulatory requirements, his exit from the company does not guarantee disclosure,” Zomato said.
The company maintains and intends to maintain a high standard of corporate governance and has verbally and in writing in compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, it added.
Zomato shared information about Gupta’s withdrawal in a company blog post.
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