2 years, 2 months ago

BharatPe’s founder Koladiya sues Grover to reclaim shares

Bhavik Koladiya, the original founder of BharatPe, has filed a lawsuit against Ashneer Grover in the Delhi High Court. Koladiya is taking legal action against BharatPe’s co-founder and former managing director Grover “to get back his shares from him.” The matter has been listed before Justice Prateek Jalan in the Delhi High Court. However, six months later in December 2018 just before Sequoia came on board as an investor, Koladiya’s name went missing from the founders' list “owing to discomfort on the part of large institutional investors to have a person with a jail term in the US.” And ever since then, Grover became the face of the company. Soon after the ‘ugly’ boardroom battle between Grover and BharatPe came to an end with the former’s exit, Koladiya was planning to take legal action against Grover to get back his shares from him. “But just a week before he was to approach a Delhi court, Bhavik was asked not to pursue the case against Ashneer ‘because a settlement was being discussed’ with Grover – who was asked to leave the company over allegations of financial irregularities in February last year.” One of the main reasons Koladiya ended his association with BharatPe was disagreements with the firm's management.

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History of this topic

1 year, 1 month ago

Delhi High Court Orders Expeditious Trial Of Shashvat Nadkarni's Suit Against Ex-BharatPe MD Ashneer Grover Over Unpaid Shares

Live Law

The Delhi High Court on Thursday ordered an expeditious trial of the suit filed by BharatPe's co-founder Shashvat Nakrani seeking to restrain the fintech company's former Managing Director Ashneer Grover from alienating, transferring, or creating any third-party rights in the “unpaid shares” bought from him. The court disposed of Nakrani's appeal against the single judge's order refusing to restrain Grover …

1 year, 3 months ago

‘Respect each other’s equity’: Ashneer Grover on HC's order over selling shares

Hindustan Times

BharatPe co-founder Ashneer Grover on Friday welcomed the decision of the Delhi High Court rejecting the plea of another co-founder Shashvat Nakrani to restrain the former from selling or alienating the shares, saying that this order will go a long way in protecting rights of founders in India. BharatPe co-founder Ashneer Grover In a post on X, he said, “I …

1 year, 4 months ago

BharatPe files fresh injunction plea against Ashneer Grover. Here's why

Hindustan Times

In fresh legal trouble for Ashneer Grover, Resilient Innovations, the parent firm of BharatPe, has filed a case in the Delhi high court against the ex-Shark Tank India judge, seeking an injunction after he divulged what it said was ‘confidential' information about the fintech company, in public domain. Ashneer Grover The hearing against Grover, BharatPe's estranged co-founder, took place on …

1 year, 4 months ago

BharatPe files fresh case against Ashneer for sharing ’confidential information’

Live Mint

Accusing Ashneer Grover of sharing 'confidential information' relating to the company, fintech firm BharatPe's parent company Resilient Innovations filed a fresh case in the Delhi High Court seeking an injunction, Economic Times reported on 24 November. Last week, BharatPe's embattled cofounder Ashneer Grover posted on X regarding the equity allocation and secondary components undertaken during the company’s Series E funding …

1 year, 4 months ago

Ashneer Grover, Wife Summoned by Delhi Police Day After Being Stopped at Airport

News 18

The Delhi Police’s Economic Offences Wing has summoned BharatPe co-founder Ashneer Grover and his wife Madhuri Jain for questioning in connection with an alleged Rs 81-crore fraud at the fintech unicorn, police sources said on Friday. The EOW filed an FIR against Mr Grover, Madhuri Jain and their family members Deepak Gupta, Suresh Jain and Shwetank Jain in May in …

1 year, 9 months ago

Delhi High Court refuses to stay investigation against Ashneer Grover, wife in Economic Offences Wing FIR

The Hindu

The Delhi High Court on June 1 refused to stay, at this stage, an investigation against BharatPe co-founder and former CEO Ashneer Grover, and his wife Madhuri Jain Grover, in a case of an alleged ₹81-crore fraud based on a complaint lodged by the fintech unicorn. The Judge issued notice on the petition by Mr. Grover and his wife seeking …

1 year, 9 months ago

Delhi HC denies stay on investigation against Ashneer Grover and wife

Live Mint

Delhi HC on Thursday refused to stay the investigation against Ashneer Grover and Madhuri Jain Grover in the FIR registered by Delhi Police based on a complaint by BharatPe, the company which has alleged that Grover and his wife were involved in a fraud amounting to ₹81 crore, according to a report published by Bar and Bench. The Economic Offences …

1 year, 10 months ago

Delhi Police registers FIR against BharatPe ex-MD Ashneer Grover for 'misappropriation of funds'

The Hindu

The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged ₹81 crore fraud after a complaint by the fintech unicorn. BharatPe in the complaint alleged that Mr. Grover and his family caused damages of …

1 year, 10 months ago

FIR against BharatPe ex-MD Ashneer Grover, family

Live Mint

New Delhi: The Economic Offences Wing on Wednesday registered an FIR against former BharatPe managing director Ashneer Grover, his wife Madhuri Jain Grover, and family members, including Deepak Gupta, Suresh Jain, and Shwetank Jain. From the contents of the complaint and enquiry conducted so far, prima-facie offences punishable under Sections 406/408/409/420/467/468/471/120B IPC are made out,” the FIR copy reads, a …

2 years, 2 months ago

HC Issues Summons to Ashneer Grover on BharatPe’s Co-founder’s Plea Reclaiming Shares

News 18

The Delhi High Court Wednesday issued summons to payment app BharatPe’s former MD Ashneer Grover on a suit by the company’s co-founder seeking to reclaim the shares he transferred to his erstwhile colleague. Justice Prateek Jalan noted Grover’s counsel’s submission that he will file a reply to the suit and not create any third party rights to the 16,110 shares …

2 years, 2 months ago

Remain Courteous: Delhi HC Tells BharatPe, Former MD Ashneer Grover

News 18

The Delhi High Court on Monday advised payment app BharatPe and its estranged co-founder Ashneer Grover to be courteous to each other even after their falling out. Justice Navin Chawla, while hearing BharatPe’s lawsuit against Grover, its former MD, and his family members to restrain them from making allegedly defamatory statements, blamed social media for “bringing us down to this …

2 years, 2 months ago

BharatPe vs Ashneer Grover case: Delhi HC asks Grover to maintain decorum

Live Mint

The Delhi High Court on Monday told the counsel for former BharatPe managing director Ashneer Grover to ask him to maintain decorum and not to speak against the company’s chief officers. The court was hearing a civil suit filed by BharatPe on 8 December seeking ₹88 crore in damages and orders to restrain Grover and others from making defamatory statements …

2 years, 3 months ago

BharatPe approaches Delhi HC to restrain Ashneer Grover, wife, others from making defamatory statements

The Hindu

: The Delhi High Court on Thursday issued summons to BharatPe’s former managing director Ashneer Grover and his wife on a suit filed by the company seeking to restrain them from making defamatory statements against the fintech firm. The High Court gave Mr. Grover, his wife Madhuri Jain and others two weeks to submit replies to the plea filed by …

2 years, 3 months ago

BharatPe Files Criminal Suit Against Ashneer Grover, Family; Know What Is The Case

News 18

Fintech unicorn BhartPe has filed a criminal suit against its former MD and co-founder Ashneer Grover and his family, seeking up to Rs 88.67 crore in damages for alleged cheating and embezzlement of funds. “Pass a decree of permanent injunction restraining the defendants and/or anyone on their behalf in any manner whatsoever from making defamatory/derogatory statements concerning the plaintiff, its …

2 years, 10 months ago

BharatPe sacks several employees, initiates action to retrieve Ashneer Grover's restricted shares

Firstpost

The steps have been taken by the company’s board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director New Delhi: Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw …

2 years, 10 months ago

Ashneer Grover says he'll start his own venture sans investors

India TV News

Ashneer Grover says he'll start his own venture sans investors Grover, who along with his wife Madhuri Jain Grover has been stripped of all company titles over alleged "extensive misappropriation of company funds" and using "company expense accounts" to "enrich themselves and fund their lavish lifestyles", said he will not go back to investors again. Ashneer Grover, co-founder and former …

2 years, 11 months ago

Ashneer Grover Asks BharatPe to Show Cause CEO for 'Despicable Behaviour'; Boardroom Drama Still On

News 18

BharatPe vs Ashneer Grover: BharatPe co-founder and former managing director Ashneer Grover has sent a letter to the payments firm’s board and sought apology from its CEO Suhail Sameer for his comments on LinkedIn against him and his sister Aashima. In his letter, Ashneer Grover said that Suhail Sameer’s words on social media were not only defamatory, but “also blatantly …

3 years ago

BharatPe-Ashneer Grover Controversy: Ministry of Corporate Affairs Looking At Board's Conduct

ABP News

New Delhi: The Ministry of Corporate Affairs has decided to look at how the board of BharatPe acted during its fight with Ashneer Grover, former managing director and co-founder of the fintech firm. Ashneer Grover resigned from his post at BharatPe last week after nearly two months of high drama where he locked horns with board members and key investors. …

3 years ago

BharatPe Board Not To Intervene In Bhavik Koladiya And Ashneer Grover Stake Issue

ABP News

New Delhi: As the Ashneer-BharatPe fight now on a legal course, the Board of the company is not going to intervene in a new controversy regarding the fintech company's original founder Bhavik Koladiya and his stake in the firm. Another co-founder Shashvat Nakrani has written a fresh letter to employees, saying that Ashneer tried to create a false narrative about …

3 years ago

BharatPe Co-Founder Nakrani Says Board Acted Decisively In Removing Ashneer Grover

ABP News

New Delhi: Shashvat Nakrani, co-founder BharatPe, has accused Ashneer Grover, another co-founder of the fintech firm, of creating a false narrative about the company and said the board acted quickly and decisively in unseating him after PwC report, according to a report in the PTI. Ashneer sent in his resignation late night on March 1, 2022 to the board, minutes …

3 years ago

Ashneer Grover vs BharatPe: 5 key takeaways from boardroom fight at unicorn startup

India Today

The rise of Ashneer Grover and unicorn startup BharatPe was considered as an inspiring Indian entrepreneurs' success story till a rift between the co-founder of the company and board members snowballed into a major controversy. The payment startup hitback by stripping its co-founder Ashneer Grover of all positions for his alleged 'misdeeds' and may take further legal actions, including clawing …

3 years ago

BharatPe says Ashneer Grover used firm money to fund lavish lifestyle, removes him from all posts

India Today

Indian fintech firm BharatPe has removed Ashneer Grover from all positions in the company, including from his post of director on the board. In a statement, the company said that Ashneer Grover submitted his resignation as soon as he heard that the firm’s internal records would be reviewed by independent external advisors. “Ashneer Grover quickly shirked responsibility by sending an …

3 years ago

BharatPe board may take legal action against Ashneer Grover, alleges family 'engaged in misappropriation of funds'

Firstpost

Ashneer Grover is no longer an employee, a founder, or a director of the company, said a statement issued by BharatPe. BharatPe reserves the right to take legal action against the embattled co-founder Ashneer Grover who quit yesterday as managing director and board director, the company said in a detailed statement hours after an extensive late night board meeting. Bitter …

3 years ago

Ashneer Grover is 'No Longer a Founder' of BharatPe; Company Can Take Legal Action for 'Spinning Lies'

News 18

A day after Ashneer Grover resigning from BharatPe, the company’s board said that he is no longer an employee, a founder, or a director of the fintech firm. “As a result of his misdeeds, Mr. Grover is no longer an employee, a founder, or a director of the company,” the board said in a statement. Ashneer Grover, the embattled founder …

3 years ago

Fame to failure in few months! Tracking Ashneer Grover's downfall

India Today

BharatPe co-founder Ashneer Grover has resigned as managing director and board director, the payment startup said on Tuesday. In a scathing resignation letter, Grover cited reasons for quitting BharatPe board, even as he minced no words to hit back at officials for allegedly targeting him. PUBLIC ROW WITH KOTAK MAHINDRA BANK One of the major controversies pertaining to Grover came …

3 years, 1 month ago

Financial scam at BharatPe, founder Ashneer Grover involved: Report

Op India

Ashneer Grover, the founder of BharatPe, who took a “voluntary leave of absence” until the end of March after the abusive phone call controversy, is now again caught in the eye of the storm as allegations of financial fraud as surfaced against his wife and brother-in-law. According to the investigation, Madhuri Jain, the wife of BharatPe founder Ashneer Grover, received …

3 years, 1 month ago

BharatPe founder Ashneer Grover denies allegations of fraud, poor work culture; guns for his investors

Firstpost

Grover has made it clear that current CEO Suhail Sameer does not have his support, and that the latter is the ‘investors’ puppet’ Ashneer Grover is calm. Grover is co-founder and managing director of BharatPe, a company that was better known for its QR code aggregator app, service and surprise bank licence until a month ago, but is now best …

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Two men from Delhi arrested for conning Hyderabad businessman of ₹9.5 lakh

The Hindu

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