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BharatPe files fresh case against Ashneer Grover for divulging confidential information
Economic Times
·
1y ago
Medial
Fintech firm BharatPe's parent company has filed a fresh case in the Delhi High Court against co-founder Ashneer Grover for sharing confidential information about the company. Last week, Grover tweeted about the equity allocation and funding details of BharatPe's Series E round. The court heard the case and accepted Grover's apology for his conduct. The matter of Grover holding confidential information will be addressed in the next hearing. This comes in addition to the ongoing civil suit filed by BharatPe seeking damages for embezzlement of funds. Grover has also been questioned by the Delhi Police's Economic Offences Wing in relation to the alleged fraud case.
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Delhi HC Appoints Arbitrator For Ashneer Grover-BharatPe Dispute
Inc42
·
11m ago
Medial
A dispute has arisen between BharatPe and its ex-employee, Ashneer Grover, over allegations of confidentiality breach. The Delhi High Court has appointed an arbitrator to handle the case, with proceedings to be conducted under the rules of the Delhi International Arbitration Centre. BharatPe had sought an injunction against Grover for sharing confidential information related to the company.
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NCLT tells Ashneer Grover to establish maintainability of plea against BharatPe
Economic Times
·
1y ago
Medial
The National Company Law Tribunal (NCLT) has requested former BharatPe managing director Ashneer Grover to establish the maintainability of his petition against actions taken by the fintech company. The tribunal heard arguments on the stake Grover holds in the company and asked for precedents regarding convertible preference shares. The case will be heard again on January 11. Grover filed the case in January, seeking relief and revocation of his wife's termination from BharatPe. The tribunal asked Grover to produce judgments showing whether preference shares should be treated as equity shares.
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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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Ashneer Grover, wife urge Delhi HC to quash FIR following settlement with BharatPe
Economic Times
·
10m ago
Medial
- Fintech firm BharatPe and its former co-founder Ashneer Grover have settled their disputes in an alleged Rs 81 crore fraud case. - Grover and his wife, Madhuri Jain Grover, have urged the Delhi High Court to quash the FIR filed against them, citing a settlement agreement. - The court has granted time for the submission of an affidavit in compliance with the settlement agreement and listed the matter for further hearing on October 8. - All disputes between complainant Resilient Innovations Pvt Ltd, BharatPe, and the accused parties have been settled, according to senior advocate Mohit Mathur. - The accused parties seek the quashing of the FIR registered by the Economic Offences Wing of the Delhi Police under multiple provisions of the Indian Penal Code. - BharatPe alleges that Ashneer Grover and his family caused damages through illegitimate payments, inflated transactions, forged invoices, and destruction of evidence.
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‘I’ll be last man standing', says Ashneer Grover amid EOW probe in BharatPe case
Livemint
·
1y ago
Medial
Ashneer Grover, co-founder of BharatPe, has posted on social media that he will be "the last man standing" amidst the ongoing probe into allegations of fund misappropriation. The Economic Offences Wing (EOW) has stated that the investigation is still in its initial stages and that replies from various authorities are yet to be received. However, the EOW has strongly opposed Grover's plea to dismiss the case, citing the gravity of the offense and ongoing investigation. The case was filed by BharatPe against Grover and his family members last year.
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Delhi HC slaps ₹2 lakh fine on Bharat Pe's former MD Ashneer Grover
Livemint
·
1y ago
Medial
Former MD and co-founder of Bharat Pe, Ashneer Grover, has been fined ₹2 lakh by the Delhi High Court for sharing inappropriate posts about Bharat Pe, despite prior assurance not to do so. The court dismissed Bharat Pe's plea to prohibit Grover from posting defamatory content, considering his commitment to refrain from such behavior in the future and his apology for previous actions. This comes after Resilient Innovations, BharatPe's parent company, filed a case alleging that Grover disclosed confidential information about the company.
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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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Delhi HC Disposes BharatPe Cofounder Shashvat Nakrani’s Plea Against Ashneer Grover
Inc42
·
1y ago
Medial
The Delhi High Court has dismissed a plea by BharatPe cofounder Shashvat Nakrani seeking to restrain former managing director Ashneer Grover from selling or alienating shares that Nakrani had sold to him. The court ordered an expedited trial of Nakrani's case and appointed a local commissioner to record evidence, with completion expected in eight weeks. Nakrani had appealed against a previous order rejecting the interim application. BharatPe was founded by Nakrani and Bhavik Koladiya in 2018, with Grover joining as a third co-founder and purchasing shares from Nakrani in 2018.
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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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Ashneer Grover's allegations frivolous, attempts to malign us: BharatPe
Business Today
·
1y ago
Medial
Fintech company BharatPe has responded to allegations made by former co-founder Ashneer Grover, calling them baseless and an attempt to tarnish the company's reputation. In a letter to the Reserve Bank of India, Grover claimed that BharatPe engaged in fraudulent activities by including a convicted fraudster in its ownership structure during the license application process. BharatPe maintains that it has a strong board and prioritizes governance and transparency. The company intends to pursue legal action against Grover. BharatPe is a joint-venture partner in Unity Small Finance Bank and has received in-principle approval for its payments aggregator business.
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