Online restaurant aggregator Zomato said it did not communicate the exit of its co-founder Gaurav Gupta to the Bombay Stock Exchange as he was not designated as a key managerial personnel under the Companies Act, 2013 and listing regulations. Zomato added that he was neither a promoter nor a holder of equity shares in the company. "Further, there is no pending information or announcement from the Company which may have a bearing on the price / volume behavior in the scrip and all material information has been disclosed by the Company within the stipulated timelines", the aggregator said in a BSE filing.
Gupta had joined the company in 2015 and was designated as one of the co-founders in 2019 and Head of Supply in 2021.
Zomato was replying to BSE's 17th September circular seeking clarification from the aggregator for not disclosing Gupta's exit.