fintech The long-running fight between the company BharatPe and its co-founder Ashneer Grover has finally ended. BharatPe has signed an agreement with Ashneer Grover. With this, the legal and public dispute that had been going on for months between the two parties has now ended. This information was given by both sides on Monday.
All relations of Ashneer Grover will end with BharatPe
Under this agreement between the two parties, Ashneer Grover will no longer be associated with BharatPe in any capacity, in any capacity. Not only this, Ashneer Grover will no longer have any stake in BharatPe. BharatPe and Ashneer Grover said in separate statements that Grover will transfer a part of his stake to BharatPe’s board of directors and the remaining stake will be managed by a family trust. With this he will be completely separated from the company.
No one will pursue legal matters
There has also been an agreement between Ashneer Grover and BharatPe that neither of the parties will pursue legal matters further. The settlement comes days after Delhi Police’s Economic Offenses Wing (EOW) arrested Deepak Gupta on charges of misappropriating BharatPe funds. Let us tell you that Deepak Gupta is the husband of Ashneer Grover’s wife Madhuri Jain Grover’s sister.
“Some of Grover’s shares will be transferred to the ‘Resilient Growth Trust’ for the company’s profits and his remaining shares will be managed by his family trust,” BharatPe said in a statement. “Both parties have decided not to pursue the filed cases further.”
Started the company with Shaswat Nakrani in the year 2018
Let us tell you that Ashneer Grover and Shaswat Nakrani had founded BharatPe in the year 2018. In March last year, the board of directors of BharatPe had removed Ashneer Grover from the post of managing director of the company. Since then there was a continuous legal dispute going on between the company and Ashneer Grover. However, today the long legal battle between the two parties has ended.
