Mukesh Bansal steps down from Swiggy's board over 'conflict of interest'

Within six months of joining Swiggy, Mukesh Bansal has stepped down as the board member of food delivery platform.

Bansal joined Swiggy and online freight operator Rivigo as an independent director in October last year.

Citing three people in the know of the things, Livemint has reported that Mukesh Bansal stepped down "earlier this month over a conflict of interest as CureFit is also contemplating food delivery that overlaps with Swiggy’s core business."

Mukesh Bansal co-founded CureFit in March last year, a health and fitness startup, along with a former Flipkart executive Ankit Nagori.

“Curefit will launch subscription-based health food delivery soon. While Swiggy has a broader horizon, still, the business overlaps and there is a conflict of interest. Hence, (Mukesh) Bansal stepped down,” the report said citing sources.

CureFit, who raised $15 million in a Series A round from Kalaari Capital, Accel Partners and IDG Ventures in June last year, is planning to offer three main services—health food subscriptions, Cult fitness subscriptions and mental wellness offering. To expand into these verticals, the company has acquired stakes in fitness chain The Tribe and bought fitness centre brand Cult and mental wellness service provider Seraniti Mental Health.