BharatPe receives government notice amidst legal troubles

BharatPe receives government notice amidst legal troubles

BharatPe receives government notice amidst legal troubles

Share This News

The Ministry of Corporate Affairs, Government of India, has issued a notice to BharatPe, under Section 206 of the Companies Act. The notice seeks information related to legal actions against Ashneer Grover, the company’s founder, in connection with a criminal case. This move follows the controversy in 2022 when Ashneer Grover faced allegations of using offensive language and threats against a Kotak Group employee.

The Ministry specifically seeks details regarding evidence submitted in the legal proceedings against Ashneer Grover. 

In response, BharatPe has acknowledged the notice, stating its commitment to assist investigating agencies. 

Notably, the company had previously filed a case against Ashneer Grover, his wife, and his brother, alleging misappropriation of funds and fraud, resulting in a claimed loss of Rs 88.67 crore.

Ashneer Grover, co-founder of BharatPe, had been accused of threatening a Kotak Group employee for not facilitating Nayak’s IPO. 

The legal developments add to the challenges faced by BharatPe, raising questions about corporate governance and internal disputes within the company.

Angel home decor
ad-23590