Sequoia Capital India’s managing director Shailendra Singh is leaving Zilingo's board as questions emerge around the Singapore retail firm’s accounting practices, according to a Bloomberg report.
Singh reportedly resigned about a week ago following the exits of Temasek Holding's Xu Wei Yang and Burda Principal Investments's Albert Shyy.All three firms are major shareholders of Zilingo. The report added that Sequoia intends to appoint a replacement and still holds the board seat at Zilingo.