Ashneer Grover Quits BharatPe Hours Before the Board Meet

Story Highlights
  • Ashneer Grover, MD of BharatPe resigns.
  • The resignation came hours before the scheduled board meeting on Tuesday evening.
  • Ashneer Grover and wife have been facing controversies over illicit use of company funds.

In what comes as a surprise to the entrepreneurial corridor is the resignation of BharatPe co-founder Ashneer Grover early on Tuesday morning. The boardroom battle that has been played out in India’s youngest companies, over the last month seems to be quite unpleasant for the Shark himself.

The resignation came shortly after the company decided to convene on Tuesday evening for a discussion on the investigation report by PwC.  It is reported that Grover’s stake of 9.5 per cent might be clawed back as the agenda of the Board tonight.

In a letter addressed to the BharatPe board, Mr Grover said, “I write this with a heavy heart as today I am being forced to bid adieu to a company of which I am a founder. I say with my head held high that today this company stands as a leader in the fintech world. Since the beginning of 2022, unfortunately, I’ve been embroiled in baseless and targeted attacks on me and my family by a few individuals who are ready not only to harm me and my reputation but also harm the reputation of the company, which ostensibly they are trying to protect.”

Grover first faced the brunt of the industry months ago, when he was sent on leave following allegations of using abusive language against an on-duty employee of Kotak Mahindra Bank, which he blatantly denied. The BharatPe co-founder recently made it to the headlines once again, after his wife was sacked for alleged financial irregularities ranging from producing fake invoices to using company funds for personal expenses.

Related Articles

Back to top button