Jaipur-based Scopial Fashions Private, which counts Snapdeal co-founders Kunal Bahl and Rohit Bansal as its early stage investors, on Monday passed a resolution to strike off the name of the company from RoC, Rajasthan, citing reasons of financial crisis.
The last filing on the company’s shareholdings shows that both Bahl and Bansal together have 30% stake in Scopial. Bahl and Bansal together had invested Rs 40 lakh in Scopial in 2011, and Scopial Fashions had been a seller on the Snapdeal marketplace till recently.
Another company, the Delhi-based Lapis Marketing that used to run hushbabies.com, a portal for baby products, is also funded by Bahl and Bansal. Though Lapis is still an active company, hushbabies has shut shop.
Jasper Infotech, in a recent filing under non-compete clause had said that the promoters of Snapdeal should not be connected with any other business entity as a shareholder or as a director, except to the extent that the promoters are involved in the business of Lapis Marketing Private Limited and Scopial Fashions.
Both Bahl and Bansal have scaled down their holdings in Ola significantly. RoC filings show that Kunal Bahl and Rohit Bansal had 11.36% of preference shares of ANI Technologies (which runs Ola) each, as of March, 2013.