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BharatPe settles with Ashneer Grover, former co-founder will not be associated with BharatPe in any capacity

As part of the settlement, Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company, a BharatPe spokesperson said in a statement.

September 30, 2024 / 09:46 IST
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Both parties have decided not to pursue the cases filed.

Fintech firm BharatPe has reached a settlement with its former co-founder Ashneer Grover, ending years of acrimonious legal battles and public disputes between the two parties.

As part of the agreement reached, Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company, a BharatPe spokesperson said in a statement.

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Further, certain shares of Grover will be transferred to the Resilient Growth Trust for the benefit of the Company and his remaining shares will be managed by his family trust. Both parties have decided not to pursue the cases filed.

A source close to the company said he will be transferring 1.4% of his holding to the BharatPe board, with the rest 3.5-3.7% going to a family trust, thus keeping him off from the company’s cap table.