BharatPe has reached a definitive settlement with its former co-founder, Ashneer Grover, concluding years of authorized battle. As a part of the settlement, Grover will now not have any affiliation with BharatPe, nor will he maintain any shares within the firm.
“Mr. Grover is not going to be related to BharatPe in any capability nor be part of the shareholding of the corporate. Sure shares of Mr. Grover shall be transferred to the Resilient Development Belief for the advantage of the Firm and his remaining shares might be managed by his household belief,” the corporate acknowledged. Each events have additionally agreed to drop all pending authorized circumstances.
“We want Mr. Grover nicely. BharatPe continues to give attention to delivering industry-leading options to its retailers and prospects, driving progress with profitability,” the assertion added.
This settlement follows a turbulent authorized battle between Grover and BharatPe, which accused him and his household of economic misconduct throughout his tenure. Allegations included fraudulent funds to pretend HR consultants, inflated vendor funds, and fabricated invoices.
Investigations into the alleged monetary irregularities started after Grover’s contentious exit from the corporate in 2022. His spouse, Madhuri Jain Grover, who was the previous Head of Controls at BharatPe, was additionally dismissed as a part of the fallout.
In September, Deepak Gupta, the previous Head of Procurement at BharatPe’s mum or dad firm, Resilient Innovation, was arrested by the Financial Offences Wing (EOW) of Delhi Police. Gupta, who is expounded to Grover’s household, was implicated within the ongoing ₹81 crore fraud case, which has seen a number of arrests and ongoing investigations into the corporate’s monetary affairs.
