Allegation against Binny Bansal was of sexual assault: Source

Shortly after Walmart Inc. released a statement noting that Flipkart CEO Binny Bansal has stepped down over "serious personal misconduct" charges, a source told Reuters that the allegation against Bansal was of sexual assault. 

"In late July ... an allegation came to us. It was a claim of sexual assault against Binny," the source told Reuters, adding the individual concerned was a former Flipkart associate who was not with the company at the time of making the allegation.

"The investigation could not corroborate the allegation. It did, however, surface a lack of transparency on Binny’s part."

Walmart on Tuesday announced that Flipkart CEO Binny Bansal has resigned over allegations of serious personal misconduct. 

According to a press statement released by Walmart, Bansal's decision came after an independent investigation was launched against him on behalf of Flipkart and Walmart probing the allegation of personal misconduct.  

"His decision follows an independent investigation done on behalf of Flipkart and Walmart into an allegation of serious personal misconduct," Walmart's statement read.

According to reports, Bansal had denied the allegations.

(With inputs from Reuters)