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Ashneer Grover tweets in Haryanvi after ex-COO Dhruv Bahl exits BharatPe
Twitter
·
1y ago
Medial
After the departure of BharatPe's former COO Dhruv Dhanraj Bahl, who was recently appointed as the chief business officer for the merchant lending division, the startup's former MD Ashneer Grover posted a tweet in Haryanvi. In the tweet, Ashneer commented, "Tau, you simply can't get the job done." BharatPe has witnessed a series of significant departures in recent times, including the exit of CTO Vijay Aggarwal.
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BharatPe Vs Ashneer Grover: Ex-MD Seeks RBI Probe Into The Fintech Unicorn’s Shareholding
Inc42
·
1y ago
Medial
Former BharatPe MD and co-founder, Ashneer Grover, has written a letter to the Reserve Bank of India (RBI) requesting an investigation into the shareholding of the fintech unicorn. Grover has accused BharatPe of deliberately "defrauding" the RBI by bringing back Bhavik Koladiya to the company's cap table after securing licences. Grover has demanded that all of BharatPe's licenses be revoked if the company is found guilty, and he also calls for penalties and blacklisting of the venture firms associated with the startup. Additionally, Grover alleges that BharatPe co-founder Shashvat Nakrani transferred shares to Koladiya for free. BharatPe has raised over $650 million in funding from investors such as Peak XV Partners, Ribbit Capital, and Steadview Capital.
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Economic Offences Wing registers FIR against BharatPe ex-boss Grover
Livemint
·
1y ago
Medial
The Economic Offences Wing (EOW) of Delhi Police has registered a first information report (FIR) against Ashneer Grover, the former managing director of BharatPe, and his family members. The FIR includes charges such as criminal breach of trust, cheating, forgery, and criminal conspiracy. This comes in response to a criminal complaint filed by BharatPe accusing Grover and his family of committing a ₹81.28 crore fraud. BharatPe alleges financial discrepancies, irregularities in recruitment, and hiring of third-party vendors. Grover has been the subject of multiple lawsuits, including one filed by BharatPe seeking damages.
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BharatPe Settles With Ashneer Grover, Says Ex-Cofounder Won’t Be Associated With The Firm In Any Capacity
Inc42
·
10m ago
Medial
BharatPe has resolved its legal dispute with Ashneer Grover, resulting in him severing ties with the company and relinquishing his shares. The parties involved have mutually agreed to drop the filed lawsuits. Grover officially resigned from his role as managing director and cofounder of BharatPe on February 28, 2022.
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Ex-COO Dhruv Dhanraj Bahl latest to exit BharatPe
Economic Times
·
1y ago
Medial
Bahl played a crucial role in the restructuring of the organisation post the exit of Grover. He had joined the company in 2020 as the head of operations Before joining BharatPe, he worked across organizations such as Airtel Payments Bank, Paytm Bank and Fortis Healthcare.
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Ashneer Grover urges RBI to probe ex-SBI Chairman Rajnish Kumar, says, 'He was complicit in fraud transactions'
IndianStartupNews
·
1y ago
Medial
Former BharatPe managing director Ashneer Grover has accused ex-SBI Chairman Rajnish Kumar, currently BharatPe's board chairman, of allocating equity shares worth hundreds of crores to himself. Grover alleges that this is part of a larger issue involving fraudulent transactions and misrepresentations to the Reserve Bank of India (RBI). He has called for an investigation into the matter. BharatPe has dismissed the claims as baseless and is pursuing legal action against Grover. The Ministry of Corporate Affairs and other authorities are already investigating BharatPe.
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Former BharatPe COO’s venture capital firm rolls out maiden fund
VCCircle
·
1y ago
Medial
Dhruv Dhanraj Bahl, the former COO of BharatPe, has launched a venture capital firm called Eternal Capital. The firm's maiden fund aims to raise INR 120 crore, with an additional greenshoe option. The fund has already received commitments of INR 102 crore from various entrepreneurs, including executives from BharatPe, MakeMyTrip, and PolicyBazaar. Bahl has been investing in startups for the past six years and aims to provide easier access to institutional deals through Eternal Capital. The fund plans to invest in seed and pre-Series A rounds, focusing on sectors such as fintech, SaaS, consumer, clean energy, and sports and gaming.
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Ashneer Grover writes to RBI for probe into BharatPe’s shareholding: Report
Business Today
·
1y ago
Medial
Ashneer Grover, former director of BharatPe, has asked the Reserve Bank of India (RBI) to investigate the shareholding of the company. Grover alleges that BharatPe fraudulently brought back Bhavik Koladiya, a convicted fraudster, to the company's cap table after obtaining licenses from the RBI. Grover questions whether BharatPe would have been approved for a stake in Unity Small Finance Bank or allowed to acquire Liquiloans had Koladiya been part of the company's cap table during the license application. BharatPe has filed lawsuits and criminal complaints against Grover and his family.
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Nearly 20 Indian startup CEOs quit their posts in 2023 so far
Entrackr
·
1y ago
Medial
Around 20 Indian startup CEOs have left their positions within the first eight months of 2023, a noticeable increase compared to previous years. Fintech and edtech sectors have seen significant CEO exits, driven by factors such as financial wrongdoings and company transitions. Companies like BharatPe and DealShare faced both CEO departures and layoffs. The trend started in 2022 when BharatPe and Zilingo saw top level exits including their former CEO & MD Ashneer Grover and CEO Ankiti Bose.
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BharatPe's chief business officer Nishant Jain quits
Money Control
·
1y ago
Medial
BharatPe's Chief Business Officer (CBO), Nishant Jain, has resigned from the fintech firm and assumed the role of Executive Director and CBO (Assisted Business) at Angel One, a discount broking firm. Jain joined BharatPe in May 2020 and played a significant role in expanding the company's merchant base to 10 million within a year. His departure is part of a series of executive exits from BharatPe in recent times, including the Chief Operating Officer, Dhruv Dhanraj Bahl, who left the company last week.
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Ashneer Grover seeks reinstatement as BharatPe's MD, approaches NCLT
Money Control
·
1y ago
Medial
Ashneer Grover has approached National Company Law Tribunal (NCLT) seeking his reinstatement as the Managing Director of BharatPe. Grover has claimed that he was ousted from BharatPe in an "arbitrary manner in excess exercise of powers in order clawback his restrictive shares illegally". BharatPe had removed Grover from all positions in the company last year for alleged misappropriation of funds.
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