The wonder and vogue e-commerce platform, Nykaa has filed a lawsuit towards its former chief enterprise officer, Aakash Asthana, who’s now the chief govt officer of Tata Cliq Luxurious.
Accusations towards Asthana
As reported by The Financial Occasions, the lawsuit alleges that Asthana breached his employment contract with Nykaa earlier than leaving the corporate.The lawsuit additionally claims that Asthana tried to recruit a number of workers who had beforehand labored underneath his supervision at Nykaa to affix Tata Cliq, and a few of them have since made the transition.
Nykaa additionally revealed in its petition that Asthana, a former CBO and board member at Nykaa for 4 years, held a place of great authority inside the firm, giving him entry to confidential enterprise information.
Nykaa calls for monetary compensation
As per the report, the corporate has demanded that Asthana refund roughly Rs 19 crore in worker inventory possibility advantages he availed whereas at Nykaa. Moreover, Nykaa is in search of Rs 5 crore in compensation for the alleged lack of goodwill and different enterprise metrics attributable to Asthana’s actions.
Moreover, Nykaa has requested the court docket to restrain Asthana from utilizing any confidential enterprise information acquired throughout his tenure at Nykaa for his work at Tata Cliq Luxurious.
Nykaa confirmed that it had made an exception to its non-compete coverage for Asthana, allowing him to affix Tata Cliq. Asthana joined Tata Cliq in June 2023 after a three-month backyard depart interval.
The Bombay excessive court docket issued a short lived order prohibiting Asthana from recruiting Nykaa executives to affix Tata Cliq.
Asthana’s stand
Asthana dismissed the allegations as “incorrect” and acknowledged that they might be confirmed false within the arbitration proceedings. “Nevertheless, for the reason that matter is sub-judice, I can’t touch upon the identical. The matter is between my former employer and me, and my present employer just isn’t a celebration within the matter and due to this fact greatest neglected within the dialogue,” he instructed ET.
Accusations towards Asthana
As reported by The Financial Occasions, the lawsuit alleges that Asthana breached his employment contract with Nykaa earlier than leaving the corporate.The lawsuit additionally claims that Asthana tried to recruit a number of workers who had beforehand labored underneath his supervision at Nykaa to affix Tata Cliq, and a few of them have since made the transition.
Nykaa additionally revealed in its petition that Asthana, a former CBO and board member at Nykaa for 4 years, held a place of great authority inside the firm, giving him entry to confidential enterprise information.
Nykaa calls for monetary compensation
As per the report, the corporate has demanded that Asthana refund roughly Rs 19 crore in worker inventory possibility advantages he availed whereas at Nykaa. Moreover, Nykaa is in search of Rs 5 crore in compensation for the alleged lack of goodwill and different enterprise metrics attributable to Asthana’s actions.
Moreover, Nykaa has requested the court docket to restrain Asthana from utilizing any confidential enterprise information acquired throughout his tenure at Nykaa for his work at Tata Cliq Luxurious.
Nykaa confirmed that it had made an exception to its non-compete coverage for Asthana, allowing him to affix Tata Cliq. Asthana joined Tata Cliq in June 2023 after a three-month backyard depart interval.
The Bombay excessive court docket issued a short lived order prohibiting Asthana from recruiting Nykaa executives to affix Tata Cliq.
Asthana’s stand
Asthana dismissed the allegations as “incorrect” and acknowledged that they might be confirmed false within the arbitration proceedings. “Nevertheless, for the reason that matter is sub-judice, I can’t touch upon the identical. The matter is between my former employer and me, and my present employer just isn’t a celebration within the matter and due to this fact greatest neglected within the dialogue,” he instructed ET.
