Comedy group AIB runs out of money, shuts down its YouTube channel

Comedy group AIB has shut down its YouTube channel after the company said on Wednesday that it has run out of income revenue and operational cost. In its statement, AIB said that it also had to vacate office space and let go its entire team overnight after founders Tanmay Bhat and Gursimran Khamba stepped down due to allegations of misconduct over six months ago.

READ | Gursimran Khamba and Tanmay Bhat step down from AIB, Khamba issues statement

"The AIB YouTube channel is for all intents and purposes, dead for the foreseeable future - there will be no new sketches anytime soon," read the statement.

AIB also stated that Tanmay Bhat and Gursimran Khamba will no longer work with the group. Khamba will no longer be involved with AIB whereas Tanmay will step down from his post of chief executive officer.

AIB said that there has always been an Internal Committee and anti-harassment system in place from the beginning. However, the culture at work may not have been perfect which needs to be improved, the statement added.

"To that end, we maintain that Tanmay Bhat's lapse of judgement regarding Utsav Chakraborty was egregious. As a result, even though, Tanmay Bhat's suspension has been lifted, he will no longer hold the position of CEO."

READ | Here's how Twitterati reacted to Tanmay Bhat stepping down from AIB

In Khamba's case, however, AIB said they appointed a two-member External Committee (EC) comprising a senior partner at a law firm and a diversity consultant to look into the matter.

Khamba had stepped away from the investigation process citing "issues with procedure," AIB said in the statement.

"The EC was unable to conclude the investigation on account of this withdrawal. Given these circumstances, Gursimran Khamba will no longer be involved in operations at AIB, and will be working independent of us," the company added.

At the moment, AIB is undergoing a compnay restructuring to meet a balanced work environment. Meanwhile, AIB will be managed by the other two co-founders Rohan Joshi and Ashish Shakya. The duo will also pursue solo interests in the coming future, AIB said.

(With agency inputs)