In a surprise statement, India?s most celebrated startup Flipkart?s Group CEO Binny Bansal stepped down with immediate effect.�Serious personal misconduct allegation that were being investigated by Walmart led to his resignation. Walmart Inc, which recently acquired Bengaluru-headquartered Flipkart in a $16 billion deal, issued a joint press statement that announced the resignation of Binny Bansal as CEO of Flipkart. The company said Binny Bansal had been contemplating a transition for some time and that the companies had been working together on a succession plan, which had now been accelerated.