Amid Unending Controversies, BharatPe Co-founder Ashneer Grover Quits Company

New Delhi: The Co-Founder of BharatPe, Ashneer Grover, has resigned from the firm and it’s board, Economic Times reported. This comes days after BharatPe had dismissed his wife Madhuri Jain Grover amid alleged financial irregularities, from producing fake invoices to billing the company for personal beauty treatment and abroad trips.

In a letter addressing to BharatPe board, Grover said that he is being forced to bid adieu to a company of which he is founder, and the company stands as leader in the fintech world. He wrote, “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.”

He further stated that he is now wasting his time battling with his investors and management. He said, “From being celebrated as the face of Indian entrepreneurship I am now wasting my time fighting a long, lonely battle against own investors and management. Unfortunately, in this battle, the management has lost what is actually at stake – BharatPe.”

Grover was sent on leave following the allegations of using abusive language against the staff of Kotak Mahindra Bank, and fraudulent practices, which he has denied.

He and his wife had accused the bank of reneging on a promise of getting him shares worth Rs. 500 Crores when Nykaa’s initial public offering (IPO) was launched.

Grover’s move comes a day after Singapore International Arbitration Centre (SIAC) rejected his petition to ward off a board investigation.

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