Ashneer Grover says BharatPe statement comes from ‘personal hatred’

On Wednesday, BharatPe issued a press release saying it had discovered that Grover and his members of the family had engaged in intensive misappropriation of funds’, including that it reserves the appropriate to “take additional authorized motion in opposition to him and his household”.

Additionally Learn | BharatPe accuses Ashneer Grover, family of ‘fraud’; read the full text

“I’m appalled on the private nature of the corporate’s assertion, however not shocked. It comes from a place of private hatred and low considering. The board must be reminded of $1 million of secondary shares buyers purchased from me in Sequence C, $2.5 million in Sequence D and $8.5 million in Sequence E. I’d additionally wish to study who amongst Amarchand, PwC and A&M has began doing audits on ‘lavishness’ of 1’s way of life?” Grover stated.

The developments come in opposition to the backdrop of BharatPe’s board assembly on Tuesday night, the place the findings of the PricewaterhouseCoopers (PwC) audit report have been mentioned.

In its assertion on Wednesday, BharatPe stated that because of Grover’s misdeeds he was not an worker, founder, or director of the corporate.

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“The corporate has taken sturdy objection to Grover spinning lies and hurling baseless allegations and threats. The Grover household and their family members engaged in intensive misappropriation of firm funds, together with, however not restricted to, creating pretend distributors via which they siphoned cash away from the corporate’s account and grossly abused firm expense accounts with a purpose to enrich themselves and fund their lavish life,” BharatPe stated in its assertion.

Grover added in his response that he expects the board to “get again to working quickly”. “The one factor lavish about me is my desires and talent to realize them in opposition to all odds via exhausting work and enterprise. I hope the board can get again to working quickly. I as a shareholder am apprehensive in regards to the worth created. I want the corporate and the board a speedy restoration,” he added.

In an interplay with ET on March 1,
Grover made allegations against BharatPe’s board members, its founder, and top management, saying the whole matter was a “witch hunt” to get him out of the corporate. “I’ve run processes, and this isn’t a course of, it’s a witch hunt. And now it’s as much as me that I’m not part of this witch hunt any longer. {That a} governance assessment magically in a single day turns into a ‘battle of curiosity’ case,” he informed ET.

BharatPe head of controls and Grover’s spouse
Madhuri Jain was sacked by the company on February 22 on grounds of misappropriating funds. Jain had posted movies of events at BharatPe’s workplace on Twitter final week, taking a dig at chief govt Suhail Sameer and group product head Bhavik Koladiya. In a sequence of tweets, she additionally termed BharatPe’s all-male board “chauvinistic”.