Flix Wednesday, July 01, 2015 - 05:30
  The board members of real estate listing group Housing.com have fired CEO Rahul Yadav after months of controversy, if an Economic Times report is to be believed. The report titled "No more resignations! Housing.com says enough is enough, fires CEO Rahul Yadav" claims that the board fired him for his behaviour towards investors, partners and the media. The 26-year-old CEO and co founder of Housing.com has been in the news frequently of late. First, it was for his bombastic resignation letter calling investors ‘intellectually incapable’. Second, for a withdrawal of the resignation with a letter of unconditional apology and, more recently, recently for parting with his stock, valued between Rs 150-200 crore ,and dividing it among Housing.com’s employees.  Quoting a person 'aware of what transpired at the board meet,' the ET report goes on to say that the local police had been called in, foreseeing any resistance by Yadav, who then left without any incident, leaving the company searching for an interim CEO. However it is interesting to note that Bennett, Coleman & Co. Ltd (BCCL), the holding company for the Times Group openly owns MagicBricks, a competitor for Housing.com which makes ET’s reportage on the sector without a disclaimer of its conflict of interest in its reports is raising eyebrows. Read - Times Group's conflict of interest could go beyond just Housing.com
Become a TNM Member for just Rs 999!
You can also support us with a one-time payment.