Ashneer Grover no longer part of BharatPe
By : DC Web Desk
Update: 2024-09-30 06:31 GMT
BharatPe and its co-founder, Ashneer Grover resolved their two-year-long dispute as per a statement made by the Delhi-based fintech firm.
They reached the conclusion that Grover would not be associated with the company. " As part of the settlement, Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company," the company said.
The company also said that Grover’s shares will be transferred to a family trust, as per the statement. While some parts of his shares will be transferred to the Resilient Growth Trust, the remaining stake will be managed by his family trust
Both parties have decided to not continue the cases they have filed.
The company further said, "We wish Mr. Grover well. BharatPe continues to focus on delivering industry-leading solutions to its merchants and customers driving growth with profitability."
Grover also took to his X and said, "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."