Ashneer Grover Bharatpe
Payments firm BharatPe on Wednesday said its erstwhile managing director and co-founder Ashneer Grover was “no longer an employee, founder or director"
and that he and his family had indulged in “extensive misappropriation of company funds". The statement drew the curtains on weeks of sniping between
the outspoken executive and the company, which dragged in board members, investors, and co-founders and engulfed the company in an unseemly public spectacle.
While it all started with a leaked phone conversation in which Grover was heard abusing a Kotak banker, he and his family now face serious fraud allegations.
While Grover resigned early on Tuesday morning, the company said that was minutes after he received the agenda for the board meeting scheduled for later that day
The AoA of the three-year-old company has the provision for removing a founding member for a cause, and his equity can be bought back by the company at a fair market value
a person with direct knowledge of the matter told Mint earlier.
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