Ashneer Grover case | 'We are further away from a settlement,' says BharatPe lawyer

Ashneer Grover

After a Delhi High Court judge remarked during a hearing that BharatPe and Ashneer Grover should explore a settlement in a Rs 88 crore civil complaint, the fintech company’s lawyer replied to him that it might happen later, but not just yet.

"We are further away from it," the lawyer added.

Earlier, BharatPe co-founder Ashneer Grover and his wife, Madhuri Jain Grover, were summoned by the Delhi High Court after the fintech company approached the court alleging that they are running a "vicious and vitriolic campaign" against it.

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

"BharatPe initiated legal proceedings against Mr Grover and his family members by way of a civil suit at the Delhi High court and criminal complaint with the Economic Offences Wing in December 2022 for fraud, misappropriation of funds, criminal breach of trust, forgery, document fabrication, and embezzlement. We have full faith in the country’s judicial and legal systems. Media reports suggesting any settlement between BharatPe and Mr Grover or his family are completely baseless and untrue," the company said in a statement.

Grover, who was engaged in a bitter battle with the BharatPe board, resigned as its managing director in April last year. Madhuri Jain Grover had also been terminated as the head of controls on allegations of funds misappropriation.

BharatPe's complaint is based on the findings of an Alvarez and Marsal preliminary report from January 2022.