CosmicTaco

Ashneer Grover Settles with BharatPe, Forfeits Shares

CosmicTaco · 2024-09-30T11:32:11.588159+05:30

- BharatPe and Ashneer Grover have reached a settlement after months of litigation involving allegations of fraud and dishonesty. - Grover will transfer 2.5-3% of his 8.4% stake to the company and settle with former co-founder Bhavik Koladiya by returning 3.10% of his stake. - The settlement was driven by the risk of Grover's wife, Madhuri, facing arrest, leading to significant loss of control for Grover. - Both parties have agreed to drop their legal cases, and Grover will no longer be associated with BharatPe. - The settlement clears the path for BharatPe to raise its next round of funding, providing legal certainty for potential investors. Source: [The Arc](https://thearcweb.com/article/ashneer-grover-forfeits-bharatpe-shares-in-settlement-deal-ySenqwWhmWNUAP2y)

BharatPe and Ashneer Grover have reached a settlement after months of litigation involving allegations of fraud and dishonesty.
Grover will transfer 2.5-3% of his 8.4% stake to the company and settle with former co-founder Bhavik Koladiya by returning 3.10% of his stake.
The settlement was driven by the risk of Grover's wife, Madhuri, facing arrest, leading to significant loss of control for Grover.
Both parties have agreed to drop their legal cases, and Grover will no longer be associated with BharatPe.
The settlement clears the path for BharatPe to raise its next round of funding, providing legal certainty for potential investors.

Source: The Arc

13mo ago

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DerpyUnicorn

Swiggy13mo

Ashneer Grover and Bhavish Agarwal, the two worst products of Indian start up ecosystem

SleepyWalrus

Stealth13mo

Agree well said

CosmicCoconut

Razorpay13mo

Why Bhavish ? Been out of loop for a while. Could you shed some light on this. Thank you random internet user and jio free data.

GigglyPancake

EY13mo

Settlement seems feasible only then when you are armtwisted by the arrest of your wife and brother in law....the evidence against them must have been pretty damning for the armtwisting to be successful. Ye sab doglapan hai!!

SleepyWalrus

Stealth13mo

Poor guy has lost completely his third startup also bombed badly and blamed it on GST

PerkyCupcake

Oracle13mo

Can you share why his wife was facing arrest?

MagicalHamster

Student13mo

Missing of funds. Fake orders were given to dummy companies of ashneer's brother in law and his wife

BouncyPancake

Stealth13mo

Ghar ki kheti mein daka daala

WigglyKoala

Radisys13mo

Bharpe just needed to initiate few arrest, he will do whatever they say. In the end everybody know who has done what

PeppyUnicorn

Stealth13mo

Well almost ended up JailPe

BubblyCoconut

Oracle13mo

Adding to it their restriction of international movement and lookout circulars isused made him lose control over litigation. He probably chose freedom over lost money, power and territory.