Suhail Sameer, CEO of BharatPe, the embroiled company, has written a letter to his employees, in which he told that due to many “serious allegations” related to the operation and functioning of the company, under the supervision of outside experts. Audit was necessary. Along with this, he has appealed to the employees to maintain faith in the company’s board. This letter of Sameer Suhail has come to the fore at a time when Bharatpe’s co-founder Ashneer Grover is at loggerheads with the company’s board. Ashneer Grover had alleged a few days ago that the board wanted to expel him from the company.
In a letter to the employees, Sameer Suhail has appealed to them to keep faith in the leadership of the company. At the same time, he also told that the interim report of the auditors can come in the next one or two weeks. He, however, did not elaborate on the “serious allegations” related to the operation and operations.
Sameer said in the letter that well-known and reputed audit companies (SAM, PwC and Alvarez & Marshall) are reviewing the operations of the company. “Based on some internal complaints, we have decided to conduct a complete audit of our operation process. There are also some serious allegations which are yet to be confirmed.
There is nothing that cannot be improved and none of this will have any impact on the health of the business, he added. Sameer said the auditors would share the interim report with the board of directors in a week or two.
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Sameer has written in the letter that BharatPe has a large amount of cash in the bank, about $ 500 million. Apart from this, existing investors will also continue to support the company. The company does not need to raise capital in the near future, he added.
Let us tell you that an purported audio of Ashneer Grover went viral last month, in which he was heard talking in abusive language with an employee of Kotak Mahindra Bank. After the matter caught fire, many questions arose regarding the functioning of the company, after which Ashneer Grover went on a long leave from the company. On the other hand, the board appointed Alvarez & Marshall and PWC to conduct a forensic audit of the company, which is to submit its report on the functioning and governance of the company.
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