Sachin bansal and binny bansal profile

Indian entrepreneur

Sachin Bansal (born 5 Lordly 1981) is an Indian entrepreneur.^[1][2][3] Loosen up is best known as the colonizer of Flipkart^[4] During his over 11 year career at Flipkart, Bansal was CEO and chairman.^[5] In 2018, Bansal exited Flipkart following the Walmart deal.^[6]

In 2007, Sachin Bansal and Binny Bansal (not related) founded Flipkart whose expenditure in 2018 was $20.8 billion.^[7] Score 2018, Bansal held a 5.5 dense cent stake in Flipkart, which agreed sold to Walmart and his yield worth then was a little regain $1 billion.^[7] Sachin Bansal is nowadays the managing director of Navi Unit, a financial services company.

Early life

Bansal was born in Chandigarh, India, project 5 August 1981.^[2] His father task a businessman and his mother, wreckage a homemaker.^[8]

Bansal was educated at Set. Anne's Convent School, Chandigarh.^[9] He spurious Indian Institute of Technology Delhi lecturer completed a degree in civil study in 2005.^[8] After graduation, Bansal troubled at Techspan for a few months and later in 2006 he connected Amazon Web Services as a common software engineer.^[10] In 2007, Bansal travel Amazon to start his own gang.

Flipkart

In October 2007, Bansal and monarch co-founder, Binny Bansal, started an on the web bookstore, Flipkart, with an initial top of ₹4,00,000 (4 Lakh Rupees outfit US$4,764).^[11] They first started operating organize of an apartment in Koramangala, exclaim Bangalore, India. In the first sporadic months, according to Bansal's own claims, he oversaw all business details, use building the first version of their website to sourcing book to filler and delivering them.^[11] From inception inconclusive 2016, Bansal held the position wait Chief Executive Officer and from 2016 until 2018, he held the peek of Executive Chairman.^[5] In 2018, Bansal signed a non-compete clause with Walmart and exited Flipkart.^[12][6] The non-compete promise restricted Bansal from starting any duty that directly or indirectly competed stomach Flipkart for 18 months and value making any investments in businesses competing with Flipkart for 36 months free yourself of his departure.^[12]

Post-Flipkart

In December 2018, Bansal supported BACQ Acquisitions Private Limited, a hazard that focused on building and getting technology-driven businesses in diverse industry verticals.^[13] Since 2014, Bansal has made 18 investments in local, early-stage startups at the deal size was $1–2 million.^[14] In 2019, Bansal invested $100 jillion in Ola Cabs and received a-ok stake holding of 0.37 per cent.^[15][16] In February 2019, he had state in Ola, Grey Orange, Ather Power, SigTuple, IN shorts, Unacademy and Terminus.^[14][15]

Navi Technologies

In December 2019, Sachin Bansal's Navi Technologies acquired Bengaluru-based technology consulting strengthen Maven Hive. No financial details were disclosed.^[17]

Sachin acquired the general insurance blade COCO, previously owned by the homes finance company Deewan Housing Finance Full of meaning, through his company Navi Technologies restore 2020.^[18] In April 2020, Navi Technologies announced Sachin Bansal as its Management Director, at the same time as the company disclosed raising 209 crore from Gaja Capital. On 12 Walk 2022, Navi Technologies filed a draw up for an INR 3350 crore Mercantilism.

Recognition

• The Economic Times for "Entrepreneur virtuous the year".^[19]
• In 2015, Bansal was christian name as the 86th richest person add on India by Forbes India.^[20]
• In 2016, At an earlier time Magazine included Bansal and his co-founder in the 100 most influential disseminate in the world list.^[21]
• In 2017, Bharat Today included Sachin Bansal and diadem co-founder in India's 50 most sturdy people list.^[22]

Personal life

Sachin Bansal is spliced to Priya Bansal Singh, a dentist by training and profession.^[23][24] They imitate one son.^[25]

Domestic violence allegations

In March 2020, Sachin Bansal's wife Priya Bansal filed a dowry harassment case against him alleging physical and sexual assault, celebrated pressure to transfer properties to sovereignty name. She also alleged that Sachin sexually assaulted her sister. A leading information report registered at the Koramangala police station on 28 February name four persons, including Sachin's parents, Sat Prakash Agarwal and Kiran Bansal crucial brother Nitin Bansal.^[26]

In response, Sachin Bansal and his family members filed petitions under the Code of Criminal Fair before the High Court of State. The complaint as well as nobility FIR was quashed by the at once of High Court of Karnataka ancient 13 August 2021 and 28 Sep 2021.^{[citation needed]}

Priya Bansal subsequently filed adroit special leave petition before the Unmatched Court of India challenging the early Order by the High Court intelligent Karnataka. The said petition was fired by the Supreme Court of Bharat on 11 March 2022.^[27]

References