Fintech firm BharatPe arrived at a definitive agreement with the company’s former co-founder Ashneer Grover. Bringing an end to years of dispute between the two, a settlement was arrived at as per which Ashneer Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company.
According to Moneycontrol, a BharatPe spokesperson said in a statement that certain shares of Ashneer Grover will be transferred to the Resilient Growth Trust for the benefit of BharatPe and his remaining shares will be managed by his family trust. Both parties decided not to pursue the cases filed, it said, adding, “We wish Mr. Grover well. BharatPe continues to focus on delivering industry-leading solutions to its merchants and customers driving growth with profitability.”
Grover was removed from the position of Managing Director of BharatPe by the company’s board in March 2022. Since then, both parties have been involved in ongoing legal disputes.
