New Delhi: escalation in the fight between Bharatpe co-founder Ashneer Grover And investors in fintech startups took an ugly turn with Wednesday’s sacking Madhuri Jaini Grover, Ashneer’s wife and controlling head at the company, on charges of misappropriation of funds.
Jain, who was forced to go on voluntary leave, on Wednesday tagged TOI on Twitter among others, calling him a well-planned “idea” by Sequoia, an investor in BharatPe, former SBI chairman and board chairman Rajnish Kumar. Hunt” called for his dismissal. Firm and Harshjit Sethi, MD, Sequoia Capital. In tweets consisting of a series of videos, she accused top company executives of “drunken sex”.
Later, she shared screenshots of a WhatsApp conversation between Ashneer and BharatPe CEO Suhail Sameer, who had reportedly sought her resignation on the same day her husband went on a voluntary three-month leave.
When contacted, BharatPe spokesperson said, “As per your query, we can confirm that Madhuri Jain Grover’s services have been terminated as per the terms of her employment agreement.”
Jain’s name cropped up during an independent audit of BharatPe’s internal processes and systems by Alvarez and Marsal, which was commissioned by the Tiger Global-backed startup. Sources said that the full report is yet to be submitted.
Jain’s removal from Bharatpe comes in the backdrop of Ashner attacking Kumar. While Ashneer termed the Kumar-led governance review as prejudicial, Jain shared an audio clip on Wednesday alleging that BharatPe co-founder Bhavik Koladia called Ashneer along with Kumar, without any agenda and wanted to meet him. and abused them.
Kumar, a banking veteran, told TOI that all the allegations against him are baseless.
Sources, however, told TOI that Ashneer’s tenure at BharatPe is under review, with the co-founder digging in his heels to prepare for a protracted battle, including appointments to law firms and arbitration with the Singapore International Arbitration Centre. Including the filing of a petition. (SIAC) claims that the investigation against him is illegal.
Grovers first sparked controversy when a leaked audio call clip of abusing Ashneer and threatening to kill a Kotak employee went viral on October 28 for failing to provide funds for the Nykaa IPO. Ashneer, a former Kotak employee himself, called the clip fake.
But the development soon became significant when a legal notice sent by Grover to banker Uday Kotak and three members of the bank’s senior leadership team surfaced.
The compensation was sought in an October 30 notice, which claimed that the duo planned to invest Rs 500 crore in Nykaa through the bank’s IPO financing services. Kotak Mahindra Bank had on January 9 threatened to initiate legal action against Grover for his alleged use of unparliamentary language and threatening the lender’s employees.
Jain, who was forced to go on voluntary leave, on Wednesday tagged TOI on Twitter among others, calling him a well-planned “idea” by Sequoia, an investor in BharatPe, former SBI chairman and board chairman Rajnish Kumar. Hunt” called for his dismissal. Firm and Harshjit Sethi, MD, Sequoia Capital. In tweets consisting of a series of videos, she accused top company executives of “drunken sex”.
Later, she shared screenshots of a WhatsApp conversation between Ashneer and BharatPe CEO Suhail Sameer, who had reportedly sought her resignation on the same day her husband went on a voluntary three-month leave.
When contacted, BharatPe spokesperson said, “As per your query, we can confirm that Madhuri Jain Grover’s services have been terminated as per the terms of her employment agreement.”
Jain’s name cropped up during an independent audit of BharatPe’s internal processes and systems by Alvarez and Marsal, which was commissioned by the Tiger Global-backed startup. Sources said that the full report is yet to be submitted.
Jain’s removal from Bharatpe comes in the backdrop of Ashner attacking Kumar. While Ashneer termed the Kumar-led governance review as prejudicial, Jain shared an audio clip on Wednesday alleging that BharatPe co-founder Bhavik Koladia called Ashneer along with Kumar, without any agenda and wanted to meet him. and abused them.
Kumar, a banking veteran, told TOI that all the allegations against him are baseless.
Sources, however, told TOI that Ashneer’s tenure at BharatPe is under review, with the co-founder digging in his heels to prepare for a protracted battle, including appointments to law firms and arbitration with the Singapore International Arbitration Centre. Including the filing of a petition. (SIAC) claims that the investigation against him is illegal.
Grovers first sparked controversy when a leaked audio call clip of abusing Ashneer and threatening to kill a Kotak employee went viral on October 28 for failing to provide funds for the Nykaa IPO. Ashneer, a former Kotak employee himself, called the clip fake.
But the development soon became significant when a legal notice sent by Grover to banker Uday Kotak and three members of the bank’s senior leadership team surfaced.
The compensation was sought in an October 30 notice, which claimed that the duo planned to invest Rs 500 crore in Nykaa through the bank’s IPO financing services. Kotak Mahindra Bank had on January 9 threatened to initiate legal action against Grover for his alleged use of unparliamentary language and threatening the lender’s employees.
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