BharatPe accuses Ashneer Grover of fraud, sacks him from all posts

The BharatPe said that Grover is no longer an employee, a founder, or a director of the company due to his misdeeds. 

An Indian fintech firm, BharatPe, has terminated Ashneer Grover from all designations inside the company, including his position as a director on the board. Ashneer Grover and his family were charged with misappropriating corporate funds by BharatPe.

The company statement read that the co-founder Ashneer Grover submitted his resignation when he learned that independent external advisors would inspect the firm's internal records.

The statement added that Ashneer Grover swiftly avoided responsibility by emailing the board his resignation and creating yet another false version of the events to the public. The document further read that the company has taken a hard stance against Grover spinning lies and making baseless allegations and threats. 

The Grover family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company's expense account and grossly abused company expense accounts to enrich themselves and fund their lavish lifestyles, the statement continued.

The BharatPe said that Grover is no longer an employee, a founder, or a director of the company due to his misdeeds. 

Shashvat Nakrani and Bhavik Koladiya started BharatPe in 2018. Ashneer Grover, an angel investor, became a co-founder.

The high voltage drama emerged over an audiotape in which Grover allegedly harassed a Kotak Mahindra Bank employee. Later, Grover claimed that all the allegations were fake and he was blackmailed. After two months, on March 1, Ashneer Grover, the co-founder of BharatPe, resigned. Grover, also the managing director of BharatPe, told the fintech's board that he had been "vilified" and treated "disrespectfully".