BharatPe withdraws criminal charges against Ashneer Grover under fresh settlement

Relief to Grover: According to the exclusive details accessed by Republic Business, BharatPe has withdrawn all legal and criminal charges against its former co-founder Ashneer Grover, following a surprise early morning settlement reached today. 

The agreement, finalised around 5:00 AM on September 30, marks the end of a protracted legal battle that began in January 2022, involving allegations of financial misconduct against Grover and his family.

According to a public statement released by BharatPe on X.com (formerly Twitter), both parties have agreed to resolve all disputes amicably, signalling a complete separation between the company and Grover. 

As per the terms of the settlement, Grover will no longer be associated with BharatPe in any capacity. His shares in the company will be transferred to a designated fund and family trust.

While the financial details of the settlement remain undisclosed, sources confirm that Grover will receive an unspecified sum from BharatPe as part of the agreement. In return, the company has agreed to drop all criminal charges filed against Grover, his wife Madhuri, and other relatives. These charges, which included allegations of embezzlement, had been lodged during Grover's tenure at the company.

Grover also tweeted about the settlement sharing that he ‘repose his faith in the management and board. 

“I have reached a decisive settlement with BharatPe. I repose my faith in the management and board, who are doing great work in taking BharatPe forward in the right direction. I continue to remain aligned with the company's growth and success,” Grover wrote on X.com. 

The settlement brings closure to what had become an increasingly bitter legal dispute, with multiple cases filed in court and FIRs lodged against Grover and his family. With the signing of this new agreement, all such matters have now been resolved, and BharatPe has formally withdrawn its legal actions.

The settlement represents a significant step towards closure for both BharatPe and Ashneer Grover, who have been embroiled in one of the fintech industry's most high-profile corporate disputes in recent years. Both parties have refrained from making further public comments on the matter.

Also read: BharatPe announces complete disaffiliation with Ashneer Grover