New Delhi: Flipkart Group CEO Binny Bansal on Tuesday resigned with immediate effect over allegations of ‘serious personal miscount’. Bansal, 37, has strongly denied the allegations, the firm’s new parent Walmart said in a statement.

“Earlier today, Binny Bansal announced his resignation as CEO of Flipkart Group, effective immediately. Binny has been an important part of Flipkart since co-founding the company, but recent events risked becoming a distraction and Binny has made a decision to step down,” Walmart stated.

It added,“While the investigation did not find evidence to corroborate the complainant’s assertions against Binny, it did reveal other lapses in judgement, particularly a lack of transparency, related to how Binny responded to the situation. Because of this, we have accepted his decision to resign.”

Walmart further informed that Kalyan Krishnamurthy, who heads the main Flipkart e-commerce operation, would act as chief executive for a broader group of businesses including Myntra and Jabong (apparel websites).

“Ananth Narayanan will continue providing great leadership as CEO of Myntra and Jabong, and will report into Kalyan. Sameer Nigam will continue leading PhonePe as CEO. Both Kalyan and Sameer will report directly into the board,” the company said.