Tuesday, Aug 16, 2022
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Co-Founder Gaurav Gupta's Exit Does Not Warrant Any Disclosure Under Listing Regulation: Zomato

Zomato was replying to BSE's 17th September circular seeking clarification from the aggregator for not disclosing Gupta's exit.

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. 

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