Months after wife's sacking, BharatPe's co-founder Ashneer Grover quits

New Delhi, March 1

BharatPe’s Board of Directors on Tuesday accepted the resignation of its co-founder Ashneer Grover days after he lost an arbitration case in Singapore against the fintech company’s probe.

The company claimed Grover quit after he received the minutes for the Board meeting which included the final findings of the ‘governance review’ by Pricewaterhouse Coopers (PwC). Alvarez and Marsal, a risk advisory firm, will also submit a report into financial irregularities this week.

Grover submitted his resignation on the midnight of March 1, months after the sacking of his wife, Madhuri Jain Grover, from the company over alleged misappropriation of funds.

In an emotional letter, Grover wrote, “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.”

“Your views of businesses and problems on the ground are so coloured by the windows of the Ivory Tower in which you all reside that you have no connect whatsoever with the human element of the business. It is sad that you have even lost touch with the founder. You’ve lost touch with me,” he added.

“Today, you have chosen to believe gossip and rumours about me instead of having a frank conversation. You are so easily spooked because you have no touch with reality,” alleged Grover.

The saga began in January after an audio clip went viral in which Grover was using obscene language with a Kotak Mahindra Bank staffer.

Baseless attacks

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 — Ashneer Grover, co-founder, BharatPe