Ashneer Grover had tendered his resignation to BharatPe on the midnight of March 1. Within a day, BharatPe took away the right to be the founder from Ashneer Grover. With this, Grover is no longer the founder nor employee of BharatPe. Along with this, the company has also said that it is also confiscating the restricted shares allotted to Ashneer. Not only this, the board of the company said that they will also do a legal fight against Ashneer Grover.
In an interview to ET, Ashneer Grover said that he has already left a lot. “I also had to give up my stock option worth Rs 100 crore,” he said. Ashneer Grover said that the company took away my stock option worth Rs 100 crore. He also snatched away the equity of Madhuri Jain worth Rs 12 crore.
Ashneer Grover has also made many allegations against the review committee of BharatPe. He has also criticized the board’s chairman Rajnish Kumar, chief executive Suhail Sameer and general counsel Sumeet Singh. Ashneer Grover said that these people negotiated their stock options more than any employee of the fintech company.
Ashneer Grover said, “No one has pointed fingers at the review committee in this matter. My point is simple, if you follow me, I will also follow you.”
Let us tell when the war between BharatPe and Ashneer Grover started
January 5: An audio clip was released from an anonymous Twitter handle. In which allegedly Ashneer Grover is talking abusively with an employee of Kotak Mahindra Bank. According to the audio clip, Kotak Mahindra Bank could not get the shares of Nykaa to Ashneer Grover and his family members, due to which Ashneer Grover was angry.
January 6: Ashneer Grover claimed that this video clip is fake.
January 8: The clip was removed from Twitter and SoundCloud. Ashneer also deleted his tweet.
January 9: There were reports that Ashneer Grover and his wife Madhuri Jain had sent a legal notice to Kotak Mahindra Bank in October. The bank said that it will take action on this audio clip.
January 17: After a dispute with a Sequoia employee, a mail sent by Ashneer Grover in August 2020 came to the fore.
January 19: Ashneer Grover went on voluntary leave till the end of March.
29 January: BharatPe’s board announced to conduct independent auditing.
30 January: Ashneer Grover used to settle down completely but at the same time appointed a lawyer.
February 2: A letter became public in which there was talk of removing CEO Suhail Sameer from the board.
February 4: Preliminary investigation revealed that Ashneer Grover and his wife Madhuri Jain had indulged in a scam in the company.
February 10: Madhuri Jain wrote a letter to the audit company A&M asking how the audit report became public.
February 11: CEO Suhail Sameer asked the employees to keep faith in the company’s board and further action.
February 22: Ashneer Grover wanted protection from future action in the form of settlement. Along with this, in a letter, the company’s chairman Rajnish Kumar was accused of bias.
23 February: BharatPe has fired Madhuri Jain from her job alleging misappropriation of funds. Board chairman Rajnish Kumar said the allegations against Grover would have no bearing on the company.
February 27: The Singapore International Arbitration Center has dismissed Ashneer Grover’s Governance Review petition against BharatPe.
March 1: Ashneer Grover resigns from BharatPe.
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