Ashneer Grover, a former co-founder of the company, and BharatPe reached a final agreement. After years of disagreement, the two parties were able to reach a settlement whereby Ashneer Grover would no longer have any affiliation with BharatPe or ownership stake in the company.
Ashneer Grover's response on X
'I have reached a decisive settlement with BharatPe. I repose my faith in the management and board, who are doing great work in taking BharatPe forward in the right direction.'
'I continue to remain aligned with the company's growth and success. I will no longer be associated with BharatPe in any capacity, nor be part of the capital table.'
I have reached a decisive settlement with BharatPe. I repose my faith in the management and board, who are doing great work in taking BharatPe forward in the right direction. I continue to remain aligned with the company's growth and
— Ashneer Grover (@Ashneer_Grover) September 30, 2024
success. I will no longer be associated with… pic.twitter.com/gB3Pla5qQZ
'My remaining shares will be managed by my family trust. Both parties have decided not to pursue cases filed. I hope BharatPe continues to grow and succeed for the benefit of all its stakeholders.'
BharatPe declares peace
According to a BharatPe representative, Ashneer Grover's remaining shares will be administered by his family trust and some of his shares will be transferred to the Resilient Growth Trust for BharatPe's benefit, according to a statement.
BharatPe announces settlement with ex Co-Founder pic.twitter.com/TJnFAX8vj0
— BharatPe (@bharatpeindia) September 30, 2024
It stated that 'both parties decided not to pursue the filed cases,' and it concluded, 'We wish Mr. Grover well.' BharatPe is still committed to providing its merchants and clients with market-leading solutions that foster growth and profitability.'
Complaint against Ashneer grover and family
In December 2022, BharatPe registered a criminal complaint against five individuals: Ashneer Grover, Madhuri Grover, Shwetank Jain (Madhuri's brother), Suresh Jain (Ashneer's father-in-law), and Deepak Gupta (Ashneer and Madhuri's brother-in-law).
In May 2023, the EOW filed a formal complaint in the Rs 81-crore fraud case against Ashneer Grover, the co-founder of BharatPe, his wife Madhuri Jain, and their family members Deepak Gupta, Suresh Jain, and Shwetank Jain.
Career after BharatPe dispute
Ashneer Grover gained widespread recognition following his appearance on the Indian version of Shark Tank, founded his second venture into the fintech space with the ZeroPe medical loan app in April 2024, according to reports.
Grover founded Third Venture following his departure from BharatPe, and in 2023 it introduced CrickPe, a fantasy gaming platform.