Business

Ashneer Grover Quits As BharatPe MD, Says ‘I’m Being Forced To Bid Adieu’

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Mumbai: BharatPe’s Ashneer Grover, who’s in a tussle with the board over a governance review, has resigned as MD and director. In an email sent to the fintech’s board, Grover said he had been ‘vilified’ and treated in the ‘most disrespectful manner’ since the beginning of the year.

“I write this with a heavy heart as today I am being forced to bid adieu to a company of which I am a founder. I say with my head held high that today this company stands as a leader in the fintech world. Since the beginning of 2022, unfortunately, I’ve been embroiled in baseless and targeted attacks on me and my family by a few individuals who are ready not only to harm me and my reputation but also harm the reputation of the company, which ostensibly they are trying to protect,” the fintech unicorn founder has written in his resignation letter.

He added: “I am now wasting myself fighting a long, lonely battle against my own investors and management. Unfortunately, in this battle, the management has lost what is actually at stake – BharatPe.”

Meanwhile, Grover failed to get emergency relief from the Singapore International Arbitration Center (SIAC) to investigate alleged financial loopholes and governance lapses in fintech.

Earlier, he had filed an arbitration petition seeking a stay on the probe into alleged financial irregularities in the company. Grover had reportedly sought compensation for any future action against him in the ongoing settlement talks with the company and its shareholders.

In January, Grover went on a voluntary leave of absence until the end of March, and his decision was accepted by the BharatPe board. The company said Chief Executive Suhail Sameer will continue to lead the management team.

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