Fintech company BharatPe has reached a settlement with its former co-founder Ashneer Grover on disputes with terms. The terms stated that Grover would not be a part of its shareholding nor associated with the company.
BharatPe confirmed that some of Grover’s shares will be transferred to ‘Resilient Growth Trust’ and his remaining shares will be managed by his family trust. BharatPe’s statement said that both parties have decided not to pursue the case filed on the disputes.
Ashneer Grover said – full faith in the management and board of the company.
After the agreement, Ashneer Grover wrote on his X handle that he has full faith in the management and board, who are doing a great job in taking BharatPe in the right direction. ‘I am associated with the growth and success of the company. I will no longer be associated with BharatPe in any capacity, nor will I be a part of the capital table. My remaining shares in the company will be managed by my family trust. Both the parties have decided not to pursue the filed cases. I hope BharatPe will continue to grow and succeed for the benefit of all its stakeholders.’
Ashneer Grover had to leave BharatPe in the year 2022
BharatPe co-founder Ashneer Grover has been in controversies since the year 2022. The main reason behind this was an audio of Ashneer that went viral. In this, he was found talking to an employee of Kotak Mahindra Bank in abusive language. Apart from this, he was also accused of behaving against the rules of the company.
On receiving a complaint against Ashneer and his wife, the company decided to conduct an investigation. In this investigation, his wife Madhuri Jain Grover was found to be involved in money manipulation. She was accused of using the company’s money for personal beauty treatment, purchasing electronic products, and family vacations to America and Dubai.
Payments were also made to the personal staff from the company account and fake receipts were made from acquaintances and presented. After this, he was dismissed from the company.
