Murthy Denies Reference To Zilingos Bose

On 20 April, Bose filed the $100 million suit in which she alleged Murthy had damaged her “name, reputation and standing, and image". Bose sought an apology from Murthy. The article, published in Outlook Business magazine on 1 March, refers to “one lady ran a popular fashion portal and took Sequoia’s money". Murthy has said he was not referring to Bose. “My piece referred to an unnamed lady in the fashion business who committed malpractice. There are at least 35 female founders of fashion businesses that this VC fund has backed," Murthy said in a statement.

“If the complainant is saying that the piece refers to her, then she agrees she committed malpractice, so there’s no defamation. If the complainant is saying that’s not her, and that’s what I am saying as well, then there’s no defamation. The complainant can’t make two opposite claims, unless all she wants really is cheap publicity," he added.

Although Murthy denied the reference to Bose in his Outlook piece, he urged the need for regulatory scrutiny of Zilingo.

Murthy also did not miss the opportunity to pose a few questions to Zilingo’s investors, and the board.

“News of this complainant’s financial shenanigans over the past year has hurt reputations of both countries. Could you please investigate the matter to get to the bottom of it?"

Murthy also exhorted Zilingo’s investors to publish their investigative reports.

“You folks commissioned, investigated, and studied the reports that apparently showed multiple counts of financial malfeasance by the complainant, which reportedly led to you sacking her from the company. Your reputation’s going down here. Why are you all silent? Who are you protecting? Why haven’t you sued to recover the money?" Murthy asked.

In a statement to Mint on 28 April, Bose declined to comment further. “I have full faith in the competence of the judicial authorities to determine the merits of my complaint. I will not dignify Mr Murthy with any further air time at my expense," Bose said in a statement to Mint.

Earlier on April 21, Bose had argued that the description in the article was far too specific about her and couldn’t have meant anyone else.