Ayush Singhal, CFO, Club Factory has resigned from the company. The e-tailer has roped in law firm Khaitan & Co to handle its litigation with merchants whose payments have been put on hold owing to the ban on its operations in India. The law firm will respond to the legal notice sent by the All India Online Vendor Association (AIOVA) to settle all pending dues within 48 hours, failing which it would initiate legal action against the company.
Club Factory suspended operations in India, a fortnight after the government banned it along with 58 other apps of Chinese origin over privacy and security concerns. The e-commerce platform for fashion and accessories put all payment settlements with sellers 'on hold' until such a time when the ban on its app and website are reversed by the Indian government.