There has been a new twist in the internal dispute of Fintech startup BharatPe. Madhuri Jain, the company’s head of control and wife of co-founder Ashneer Grover, has written a letter to the management. In this letter, Madhuri Jain said that she has never given the resignation accepted by the management.
The English newspaper Economic Times has given this information in a report. Bharatap told the newspaper that the company had never asked Madhuri Jain to resign, so there is no point in accepting it. However, the company did mention that Madhuri Jain was asked to compulsorily go on leave on number 20.
According to sources, confusion had arisen between the top management and board members of BharatPe regarding Madhuri Jain’s resignation. This happened because Ashneer Grover had offered Madhuri’s resignation in a board meeting held on January 19 and joined the details of the meeting. Madhuri Jain used to report only to Ashneer Grover in the company.
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Moneycontrol cannot independently verify this report. Madhuri Jain and Ashneer Grover did not respond to queries sent in this regard. BharatPe board chairman Rajnish Kumar said he would not comment on the company’s internal matters.
According to sources, Ashneer Grover has been claiming since that board meeting on January 19 that Madhuri Jain’s offer to resign was an “accidental” decision and was not agreed upon by all the board members. According to the details of the meeting, Grover had said that “a decision on his resignation will be taken after his return to the company”.
Madhuri Jain wrote in an email to BharatPe that her “alleged resignation is quite shockingly defying all known rules of corporate governance”.
Madhuri Jain’s letter further reads, “I have neither given any resignation nor do I have any information in this regard. The board accepted the alleged resignation only on the basis that I am Ashneer’s wife. I am the wife of this letter.” Through this, I want to remind the Board that I am the Head of Controls of the company and my role was not limited to being Ashneer’s wife.”
Madhuri Jain told that she will “formally resign after being acquitted in a fair and independent investigation”. He said that the current Corporate Governance Review is just a dramatic inquiry aimed at tarnishing his image. Madhuri alleged that she was being “used as a pawn” in the fight among the shareholders.
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