Ashneer Grover co-founded BharatPe in 2018 with Shashvat Nakrani and Bhavik Koladiya. Fast-forward to September 2024, and Ashneer and BharatPe have dropped all the legal cases against each other. On September 30, 2024, Ashneer took to his Twitter handle and posted a picture with his wife, Madhuri Jain Grover, and he also penned a long note along with it. The esteemed investor shared that he has finally resolved all the differences with BharatPe.
BharatPe's co-founder, Ashneer Grover shared that he has reposed his faith in the company's board despite everything ugly that has happened between them in the last two years. The ace investor admitted that the people at BharatPe are doing tremendous work to take it to an unprecedented height. He also added that he continues to align with their path to success. However, Ashneer clearly made it official that he will no longer be associated with BharatPe in any capacity. The co-founder has accepted all the strict conditions of BharatPe and will not be a part of the capital table, too.
Addressing the much-asked question about the management of his shares in the company, Ashneer Grover revealed that the Family Trust will manage them. He also added that both he and BharatPe have decided mutually to close all the legal cases running against each other in the court. Wishing BharatPe a bright future, Ashneer ended his tweet with the word "Peace". An excerpt from his tweet can be read as:
"I have reached a decisive settlement with BharatPe. I will no longer be associated with BharatPe in any capacity, nor be part of the capital table. My remaining shares will be managed by my Family Trust. Both parties have decided not to pursue cases filed."
Soon after Ashneer Grover's tweet, BharatPe's spokesperson talked about their settlement and revealed that the former's shares would be transferred to Resilient Growth Trust for the company's benefit. For the uninitiated, BharatPe accused Ashneer Grover and his family of financial misconduct in 2022. From accusing Ashneer of fake HR consultants to fabricated invoices and inflated vendor payments, BharatPe made a series of highly sensitive accusations against Ashneer in court.
Ashneer Grover also said a lot of things about BharatPe in the media and shared how he was disappointed to see the company, which he co-founded in 2018, filing a legal case against him. However, after a long legal battle, the two parties have decided to end their disputes mutually. For the uninitiated, Ashneer's wife, Madhuri Jain Grover was also dismissed as the Head of Controls of BharatPe after the fallout between the two parties.
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What are your thoughts on BharatPe and Ashneer Grover's settlement after almost two years? Let us know.
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