A chartered accountant with a Masters in Business Administration from Jamnalal Bajaj Institute of Management Studies, Patankar was responsible for business partnering, financial planning and procurement.
Patankar who earlier has worked with companies such as Unilever and Marico Limited is expected to have quit the e-commerce firm to join an offline retail firm in India, according to one of the persons quoted above.
Patankar confirmed that he has quit Snapdeal but declined to comment further.
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His departure comes at a time when Snapdeal is also mulling an alternative survival plan in case the company's merger with Flipkart doesn't go through.