Mumbai: Former BharatPe co-founder Ashneer Grover has reached a settlement with the startup. According to the settlement, he will have neither any affiliation with the company nor any stake in it. Any remaining shares will be managed by his family trust.
In a statement BharatPe confirmed the development. “BharatPe has arrived at a definitive agreement with its former co-founder Ashneer Grovber. As part of the settlement, Mr. Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company,” the statement, shared on X, stated.
Grover also put out a statement on X where he said, “I have reached a decisive settlement with BharatPe… I will no longer be associated with BharatPe in any capacity, nor be part of the capital table. My remaining shares will be managed by my Family Trust. Both parties have decided not to pursue cases filed.”
In December 2022, BharatPe registered a criminal complaint against five individuals that included Ashneer Grover and his wife Madhuri Grover. In 2023, the Economic Offences Wing (EOW) of Delhi Police filed a complaint pertaining to a fraud involving Rs 81 crore against the five people. Recently, the EOW arrested Deepak Gupta, husband of Ashneer’s sister in the same case.
Ashneer Grover, widely known for his appearance on the Indian Shark Tank, launched his second fintech venture, the ZeroPe medical loan app, in April 2024. After leaving BharatPe, he also founded Third Unicorn, which introduced CrickPe, a fantasy gaming platform, in 2023.