Ashish Chandra, general counsel at Snapdeal, has stepped down from the company as the e-commerce firm’s merger talks with bigger rival Flipkart progress.
“I have exited Snapdeal. I served a reasonable notice period. I would take up a new assignment soon,” Chandra said when contacted. “I recently made an angel investment and will mentor that startup.”People familiar with the matter said that, apart from Chandra, many other key people may leave in the wake of the planned merger.
An email query to Snapdeal remained unanswered till the time of publishing this story.
Chandra is an alumnus of Delhi University and is a member of the Institute of Companies Secretaries of India. He started his career at Cyber Media India Ltd as company secretary in 2002, before moving to NCR Corporation India Pvt. Ltd as legal counsel and company secretary.
Later, he joined Godrej Group unit Geometric Software as chief legal officer. He also worked at Ebay India Pvt. Ltd, Star India Pvt. Ltd and Reliance Industries Ltd before moving to Snapdeal.
Legal news website Bar&Bench was the first to report the development.
Snapdeal, operated by Jasper Infotech Pvt. Ltd, is said to be in the final stages of talks for a merger with Flipkart. The merger could be announced in the next few days, VCCircle reported last week.
Snapdeal’s largest shareholder, SoftBank Group Corp, has been pushing for the merger and has managed to convince early investor Nexus Venture Partners in this regard.