Ashneer Grover row is an aberration: BharatPe chairman Rajnish Kumar

Rajnish Kumar, Chairman, BharatPe

Veteran banker and current chairman of BharatPe Rajnish Kumar has said that the Ashneer Grover episode at the fintech was an aberration and the board is more engaged now and looking into key monetary issues closely.

Grover ejected from BharatPe last month as managing director in the wake of a public row with the management, Kotak Mahindra Bank and an audit alleging governance lapses under him.

CNBC-TV18: You have donned the hat of chairman of BharatPe which has been much in the news given what has gone down with Ashneer Grover, Suhail Sameer, and others. What is the big lesson for the investor community and for founders over better handling such situations in the future?

Rajnish Kumar: The startup universe is very different. When it is in a growth phase, it is possible that the kind of governance which is expected is not there. But I would still consider it to be an aberration. The investors' faith in India is intact. It is intact for commercial considerations, if not anything else. I am talking about the big size of the market. There is technological talent in the country. There are attractions. Whether it is a startup, fintech, mid or large-sized, aberrations would be there. Sometimes we are in shock that this company could be doing something like this. The media should not pay so much attention to BharatPe.

CNBC-TV18: You say Ashneer Grover episode is just an aberration. What lies ahead for BharatPe? Some employees also said salaries weren't paid. Please clarify.

Rajnish Kumar: I would not like to discuss the internal situation and the reasons behind it. Everything can be explained. But, it is not the time to explain. The only thing is now the board is much more engaged. All the policies, governance issues, gaps, everything is being looked into. There will be an action plan and it will be implemented. And, everyone can see it.