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ShopClues founder accuses wife of pushing him out of company

Founder of ShopClues Sandeep Aggarwal has alleged that his wife and co-founder Radhika has ousted him from the company and taken control of the company. The accusations were made by Sandeep publicly through a Facebook post. It may be recalled that Radhika is currently the Chief Business Officer of ShopClues. The other co-founder is Sanjay Sethi who is the CEO of the company. Although Sandeep had founded ShopClues, he asked his wife to manage the affairs of the company on his behalf, as he was embroiled in an insider trading case in the US in 2013. Sandeep could not involve himself in the company’s affairs, as Radhika and Sethi took control of the company.

In his Facebook post, Sandeep has mentioned that his voting rights have been fraudulently taken away by his wife Radhika. The Facebook post questions Radhika’s educational qualifications and professional credentials in an attempt to prove her incompetency for the job she is currently handling. As per the 2016 annual report of ShopClues, Sethi, Radhika and Vishal Sharma have been listed as directors of the company, but there is no mention of Sandeep. This, according to Sandeep, is a case of board seat fraud, for which Sandeep has filed a complaint with the economic offenses wing of Gurgaon police. Meanwhile, Radhika dismissed the allegations saying that she was extremely shocked by this development.

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