MUMBAI: It was on Tuesday morning that the news of Housing.com CEO Rahul Yadav resignation started making rounds. The reports had excerpts from the resignation letter written by the 26-year-old CEO on 30 April to the board members and investors, which denigrated their “intellectual capability.”

The letter said, “I don't think you guys are intellectually capable enough to have any sensible discussion anymore. This is something, which I not just believe but can prove on your faces also."

If media reports are to be believed, the investors of Housing were considering removal of Yadav due to concerns over strategy and his conduct.

The board met later in the day to discuss the resignation and also chart a new plan for the newly launched company. During the meeting, the Housing.com board reconstituted to include all the main shareholder representatives. Post the meeting, through an official statement, Housing.com said, “After some good conversations the board has reaffirmed its faith in Rahul Yadav's vision at Housing.”

Yadav, who has now withdrawn his resignation, said, “After some frank and healthy discussions with the board I have agreed to withdraw my resignation and I apologise for my unacceptable comments about the board members. I look forward to staying on at Housing as CEO and building an even greater company, while working in full harmony with the board."