BharatPe announces complete disaffiliation with Ashneer Grover

BharatPe divorces Grover: The Fintech major BharatPe has announced a complete separation from its former co-founder Ashneer Grover by arriving at a definitive mutual agreement, according to a public statement released by the company on X.com (formerly Twitter). 

As per the settlement norms, Grover will not be associated with the company in any capacity while his shares will be transferred to a fund and his family trust. 

“BharatPe has arrived at a definitive agreement with its former co-founder Ashneer Grover. 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. Certain shares of Mr. Grover shall be transferred to the Resilient Growth Trust for the benefit of the Company and his remaining shares will be managed by his family trust. Both parties have decided not to pursue the cases filed,” the tweet stated. 

“We wish Mr. Grover well. BharatPe continues to focus on delivering industry-leading solutions to its merchants and customers driving growth with profitability,” added BharatPe. 

Ashneer 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 tweeted. 

“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. I hope BharatPe continues to grow and succeed for the benefit of all its stakeholders,” added Grover.