ShopClues board supports Radika Aggarwal, Sanjay Sethi; says company made "fantastic progress" under present leadership

Highlights:

1. ShopClues former co-founder Sandeep Aggarwal has charged the company's board of downplaying his role in creation of the online marketplace

2. On Sunday, Sandeep made several allegations against his estranged wife Radhika Aggarwal in a series of Facebook posts

3. Radhika, who is currently the chief business officer at ShopClues, said she is shocked by the unfounded and baseless allegations 

4. Sandeep handed over the reins of the company to his wife as he was allegedly involved in an insider trading case in the US in 2013 

A day after ShopClues former co-founder Sandeep Aggarwal charged the company's board of downplaying his role in creation of the online marketplace, its board on Tuesday came out in support of co-founders Radhika Aggarwal and Sanjay Sethi, saying the e-commerce marketplace has made "fantastic progress" under them, PTI reported.

"We are proud of the fantastic progress made by the ShopClues team under Radhika and Sanjay's leadership. It is very disappointing to see an ex-founder, who disassociated from the company for his (alleged) criminal wrongdoings, is now engaged in a personal vendetta on a public forum," said the report said citing a statement issued on behalf of ShopClues' board.

On Sunday, Sandeep made several allegations against his estranged wife Radhika in a series of Facebook posts which he removed them from public view on Tuesday. 

Radhika, who is currently the chief business officer at ShopClues, said she is shocked by the unfounded and baseless allegations, the report said.

ShopClues board said the company's goal is to create value for all stakeholders.

ALSO READ: ShopClues' co-founder files defamation case against wife, Sethi

"We remain focused on working closely with Radhika and Sanjay and the management team to continue to scale the company as it captures the massive opportunity which lies ahead of us," ShopClues added in a statement.

Gurgaon-based ShopClues, is an online marketplace that is focused on tier-II and tier-III cities and was founded in 2011 by the Aggarwals and Sanjay Sethi.

Sandeep handed over the reins of the company to his wife as he was allegedly involved in an insider trading case in the US in 2013.

Since then, he had not been actively involved with ShopClues.

A statement issued on behalf of Sandeep on Monday claimed that he has filed a criminal defamation case against Sanjay and Radhika in Delhi courts this month "as they have been lying in press and media and minimising Sandeep's role in creation of ShopClues".

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