Co-founder of BharatPe and managing director, Ashneer Grover resigned from the business on Tuesday.
According to reports, Grover resigned shortly after receiving an imminent board meeting agenda at BharatPe, which included a discussion of action against him based on a report presented by an advisory company. Grover’s wife, Madhuri Jain, was fired from the firm on February 23 for suspected financial irregularities, including the creation of fraudulent invoices.
Since an audiotape of him reportedly shouting expletives towards a Kotak Bank employee leaked in January, the fintech co-founder has been engaged in the scandal. Despite Grover’s claims that the audio clip was fabricated, the bank had threatened legal action against him.
Grover stated on January 19 that he would be taking a ‘voluntary leave of absence’ until the end of March. Further reports stated that BharatPe said on January 28 that it has hired independent auditors to investigate the activities of the company under Grover.
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Grover later appealed the judgement to the Singapore International Arbitration Centre, alleging that the company’s inquiry into him was unlawful. The arbitrator decided against Grover on February 27, stating there was no need to halt the governance review of the fintech firm.
Grover stated in his resignation letter on Tuesday that he had been vilified and handled in the most disrespectful manner since January. He said the board fired him because of their own ‘vested interests’.
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