INSUBCONTINENT EXCLUSIVE:
Ashneer Grover (File image)2 min read Last Updated : Sep 30 2024 | 9:09 AM IST
BharatPe announced on Monday that it had reached a
settlement with former co-founder Ashneer Grover, who will no longer be associated with the company
the company said in an official statement.
As part of the deal, some of Grover's shares will be transferred to the Resilient Growth Trust,
while the rest will be managed by his family trust
Both BharatPe and Grover have agreed not to pursue any legal action as part of their settlement.Click here to connect with us on
BharatPe accused Grover and his family of causing losses of about Rs 81.3 crore
The allegations include improper payments to fake HR consultants, inflated costs from connected vendors, fake input tax credit transactions,
illegal payments to travel agencies, forged invoices, and destruction of evidence.
On September 20, the Economic Offences Wing (EOW) of
The first information report (FIR) in the alleged Rs 81-crore fraud case was filed in May 2023
Before him, officials had arrested Amit Kumar Bansal, who was linked to non-existent firms that received Rs 72 crore in payments from
BharatPe's directors between 2019 and 2021.
The fintech firm was incorporated in April 2018.First Published: Sep 30 2024 | 9:01 AMIST
