BharatPe is a $3 billion write-off, value destroyed by Rajnish Kumar: Ashneer Grover

Grover and his family are embroiled in at least five legal proceedings which have been brought on by BharatPe, and the company's co-founders Shashvat Nakrani and Bhavik Koladiya.

After the Economic Offences Wing (EOW) filed a first information report (FIR) against former BharatPe managing director Ashneer Grover and his family, the embattled founder said that the fintech unicorn is a $3 billion write-off, and its value has been destroyed by Chairman Rajnish Kumar.

"BharatPe is not a company anymore, it's a $3 billion write-off... whose value has been destroyed by Rajnish Kumar. I have said earlier also that hiring him was my mistake," Grover told Moneycontrol in an interview.

"The company has seen zero growth in any metrics since I left BharatPe. Everyone is leaving from there. You should ask them why chief executive officer Suhail Sameer left," he added.

Sameer, who had a falling out with Grover last year, stepped down as the CEO of BharatPe in January this year.

Moneycontrol has reached out to Rajnish Kumar for a comment, and the story will be updated once a response is received.

Grover alleged that it couldn't be a coincidence that the EOW filed an FIR against him at 6 pm on May 10, a couple of hours after a judge reserved his order on another case.

"I have gone to the Economic Offences Wing office many times and I have always gone there without a lawyer. I have always given them all the information they have asked for. This is because I am an honest person and so I am not scared," he said.

Grover and his family are embroiled in at least five legal proceedings which have been brought on by BharatPe, and the company's co-founders Shashvat Nakrani and Bhavik Koladiya.

The company has also sought up to Rs 88 crore in damages from the Grovers and other family members through a civil suit. BharatPe alleges that the Grover family created fake bills, enlisted fictitious vendors to provide services to the company, and overcharged the company for recruitment.

(The views expressed in the story are of Ashneer Grover only).