BharatPe has been in the news for the past few months and not for good reasons. Dispute between the company and its co-founder Ashneer Grover. The entire episode culminated in Grover’s resignation after his wife Madhuri Jain was removed from the post of operations chief.
got a copy of the resignation letter ET Tech, In the letter, Ashneer Grover said, “I write this with a heavy heart as today I am being forced to bid goodbye to a company of which I am the founder. Let me say with my head held high that today this company stands as a leader in the world of fintech. Since the beginning of 2022, unfortunately, I and my family have been embroiled in unfounded and targeted attacks by some that are set to harm not only me and my reputation, but also the reputation of the Company. which they are apparently trying to protect. ,
Grover claimed that he is fighting a long and lonely battle against his (BharatPe) investors and management. He further added that the management has lost Bharatpe in the process.
In his letter to the board, Grover further said, “It is sad that you have also lost touch with the founder. For you, the company founder has been reduced to a single button to press when you need it. I stop being human for you. Today, you have chosen to believe the gossip and rumours about me instead of talking openly. ,
He accused the board of defaming him to cut him loose. He claimed that he served his utility and was becoming a liability to the company.
Grover said, “The truth is that today you believe that I have served my utility and therefore slowly I am becoming a liability. And since the investor template to shoo away an unwanted founder, they are the villain of the piece. Banana hai, that’s what you went and did…Today I am being maligned and treated in the most degrading way possible.”
Last week Madhuri Jain, former head of operations at BharatPe and Grover’s wife, was fired from the company. These developments come before the company disclosed the final report of an internal investigation by Alvarez & Marshall (A&M).
Grover was also looking for Rs 4000 crore buyout from the company for his 9.5% stake. However, the terms and amount are still not disclosed. The BharatPe board will reportedly meet today and the findings of one of the internal investigations will be presented at the meeting.
The post “I write this with a heavy heart…”: The resignation of BharatPe founder Ashneer Grover first appeared on BGR India.