Ashneer Grover bharatpe news co settles Rs 88 crore fund misappropriation case with Ashneer Grover will not be associated with BharatPe in any capacity

After a long-standing and melodramatic courtroom battle, BharatPe connected Monday said it has arrived astatine an statement with its erstwhile co-founder Ashneer Grover, who was charged, on with his household members, by the fintech institution for alleged misappropriation of funds worthy Rs 88.67 crore.

In a connection to IANS, the institution said that arsenic portion of the settlement, Grover volition not beryllium associated with BharatPe successful immoderate capableness nor beryllium a portion of the shareholding of the company.

“Certain shares of Grover shall beryllium transferred to the Resilient Growth Trust for the payment of the Company and his remaining shares volition beryllium managed by his household trust,” said a institution spokesperson.

BharatPe further added that some parties person decided not to prosecute the cases filed.

“We privation Grover well. BharatPe continues to absorption connected delivering industry-leading solutions to its merchants and customers driving maturation with profitability,” the institution added.

In a station connected X societal media platform, Ashneer said helium has “reached a decisive colony with BharatPe”.

“I repose my religion successful the absorption and board, who are doing large enactment successful taking BharatPe guardant successful the close direction. I proceed to stay aligned with the company's maturation and success,” said Ashneer.

“I volition nary longer beryllium associated with BharatPe successful immoderate capacity, nor beryllium portion of the superior table. My remaining shares volition beryllium managed by my Family Trust. Both parties person decided not to prosecute cases filed. I anticipation BharatPe continues to turn and win for the payment of each its stakeholders,” helium posted.

BharatPe had approached the precocious tribunal months aft Ashneer Grover and his wife, Madhuri Jain Grover, were dismissed from the institution implicit allegations of misappropriation of funds.

In its suit, moving into 2,800 pages, BharatPe claimed damages worthy Rs 88.67 crore from Ashneer, his wife, and his member for alleged cheating and misappropriation of funds.

Last week, the Economic Offences Wing (EOW) of the Delhi Police arrested Deepak Gupta, a household subordinate of BharatPe co-founder Ashneer successful transportation with the misappropriation of the company's funds. Deepak Gupta has been named successful the FIR filed against Ashneer, his woman and their household subordinate successful May 2023.

Earlier, different accused successful this case, Amit Bansal was besides arrested by the EOW.