Ousted ex-Zilingo’s CEO sues investor US$100m for defamation

Ankiti Bose, the former co-founder and CEO of Zilingo, has filed a defamation lawsuit against angel investor Mahesh Murthy for $100m.

Bose accused Murthy of falsely accusing her of taking money illegally out of her startup and causing damage to her name, reputation and image through an article in the Outlook Business magazine.

Although Murthy did not name Bose in the article, Bose has claimed that the description in the article was far too specific about her and couldn’t have meant anyone else.

Murthy is the co-founder of early-stage venture capital company Seedfund, which was one of the first investors in Zilingo.

Zilingo faces enforcement action for failing to file annual returns with ACRA for two years

SINGAPORE — Singapore-based fashion technology start-up Zilingo has faced enforcement action from the Accounting and Corporate Regulatory Authority (ACRA) for not filing its annual returns for two years (2020 and 2021). While ACRA did not specify the exact actions taken against the now-liquidated company, it said enforcement actions could include sending reminders, imposing composition sums, … Read more

Zilingo liquidation: Chee says EDBI and Temasek do engage with investee companies to monitor performance

SINGAPORE — Last Tuesday (7 Feb 2023), Non-constituency Member of Parliament Leong Mun Wai asked the government with regard to the financial losses suffered by EDBI and Temasek in the recent liquidation of Zilingo, a high-profile online fashion start-up started by Ankiti Bose, a resident in Singapore. Mr Chee Hong Tat, the Senior Minister of … Read more

Temasek and EDBI backed Zilingo enters liquidation

Singapore-based fashion technology start-up Zilingo has entered liquidation, as its ACRA record shows. According to its sources by Bloomberg, Zilingo’s board of directors has appointed EY Corporate Services as its provisional liquidator. It is reported that Zilingo’s creditors Varde Partners and Indies Capital Partners found a buyer for some of its assets and they have … Read more