Entrepreneur Ashneer Grover in a recent Twitter post took potshots at former State Bank of India Chairman Rajnish Kumar. Grover said hiring the former SBI chairman was his “biggest mistake”. Kumar, who was with SBI for almost four decades, joined as BharatPe chairman in October 2021.
Grover said he overlooked “data”, referring to SBI’s stock performance under the leadership of Kumar. The former Shark Tank India panellist left the fintech unicorn after a bitter battle with the company’s board in March 2022.
“Rajnish Kumar was my biggest hiring mistake. Not only because of what transpired – but bcoz I overlooked data. Under Rajnish as CMD, SBI stock tanked 25% in 3 yrs (₹257 —> ₹192). That’s $8 Bn of value destruction. After he left it went to ₹570 (up 200%). Data is never dogla!,” wrote Grover, along with a picture of a self-authored book ‘Doglapan’ that he is trying to promote.
Doglapan
The former BharatPe co-founder recently penned a memoir ‘Doglapan’ in which he recounts his journey as an entrepreneur.
In October 2021, Grover announced the appointment of Kumar: “It is a matter of great validation and pride for us that one of the biggest stalwarts of the Indian Banking Industry has agreed to join BharatPe as the Chairman of the Board. We look forward to invaluable guidance from Rajnish Kumar as we build India’s largest digital credit provider. We are confident that under his able guidance, BharatPe will attain newer heights and build the best-in-class Fintech for the new India.”
Grover resigned as the managing director of BharatPe and also from the company’s board on March 1, 2022.
Grover’s dig at Kumar comes despite a Delhi High Court order issued last week, summoning Grover and his wife Madhuri Jain Grover over a suit filed by the fintech major seeking to restrain the duo from making defamatory statements against the company.
BharatPe on December 8 also filed a civil suit against the its co-founder and his wife, and other family members seeking Rs 88 crore in damages for alleged misappropriation of funds.
