By Anshuman Daga
SINGAPORE (Reuters) – Troubled fashion technology startup Zilingo’s debtholders have decided to recall their entire loan after the Singapore-based company missed payment obligations, leading it to appoint a financial adviser to assess options, its board said on Friday. (
The seven-year-old company board suspended its CEO and co-founder Ankiti Bose in March with the backing of major investors, pending a probe by an independent firm they hired.
Backed by investors including Sequoia Capital India and Singapore state investor Temasek, privately-held Zilingo announced in April a probe into what it described as “matters”, and which sources have said refers to the company’s “accounting practices.”
A lawyer for Bose has said that she declined to comment on her suspension or the investigation.
(Reporting by Anshuman Daga; Editing by Sumeet Chatterjee and John Stonestreet)
