In the ongoing Ashneer Grover-BharatPe saga, co-founder Grover has sought indemnity from future action against him as he is in talks with the fintech company regarding his settlement.
Meanwhile, Grover, who holds 9.5 per cent stake in the company, has also filed an arbitration plea in the Singapore International Arbitration Centre (SIAC) amid his battle with the company’s board and shareholders.
Meanwhile, he is also hinting at reaching a settlement with the board and the company, Economic Times quoted people aware of the goings-on as saying.
“There were talks held last week and he (Grover) did mention he wants indemnity rights so it shouldn’t be that after the current dispute is settled a litigation is initiated after that,” a person aware of the matter said.
“The idea is to reach a settlement with the least number of legal fights possible. Everyone knows once that starts, it will mean all the parties will need to be involved for months which is not good for the company,” the person added.
Grover, who also featured as a judge on reality show Shark Tank India, had earlier asked BharatPe’s investors and the board for Rs 4,000 crore to buyout his 9.5 per cent stake in the company.
BharatPe probe
The latest update comes at the heels of consulting firm Alvarez & Marsal’s forth preliminary results of their ongoing probe at BharatPe. The findings noted that the BharatPe controller Madhuri Jain, Grover’s wife, her brother Shwetank Jain and her brother-in-law Deepak Jagdishram Gupta, were linked to financial irregularities in the company.
The probe findings highlighted that the fintech firm made payments made to non-existent vendors and included irregularities in invoices to support spends.
Ashneer Grover audio controversy
Meanwhile, Grover found himself landing in a soup in January after an audio clip went viral in he and Madhuri Jain apparently abused a relationship manager from Kotak Mahindra bank. Later, Grover, in a tweet, which he deleted later, called it a fake audio by “some scamster trying to extort funds ($2,40,000 bitcoins)”.
