Ashneer Grover, co-founder and managing director of Fintech & BharatPe, has resigned from the company and its board. In an email sent to the Fintech board, Grover said that he has been treated unfairly since the beginning of the year.
The founder of Fintech Unicorn wrote in his resignation letter, 'I am writing this with a heavy heart because today I am being forced to say goodbye to a company of which I am the founder. I say with my head held high that this company is one of the best in the world of Fintech today.
Since the beginning of 2022, unfortunately, baseless attacks are being made on me and my family by some people, thereby harming not only me and my reputation but also the reputation of the company.'
Grover Loses Singapore Arbitration
Meanwhile, Grover has failed to get emergency relief from the Singapore International Arbitration Center (SIAC), allowing the investigation into alleged financial lapses and governance loopholes in Fintech.
Also Read: I have taken care of BharatPe like a baby,” says Ashneer Grover in his Resignation Letter
Earlier, he had filed an arbitration petition seeking a stay of the probe into the alleged financial irregularities in the company. Grover had reportedly sought compensation from any future action against him in the ongoing settlement talks with the company and its shareholders.
Grover was on leave till March-end
In January, Grover had gone on leave till the end of March and his decision was accepted by the BharatPe board. The company said Chief Executive Suhail Sameer will continue to lead the management team.
Earlier, the action was taken against Ashneer Grover's wife Madhuri Jain for 'misappropriation of funds and misappropriation of money. It is known that Madhuri Jain was sent on leave on January 20, a day after Ashneer announces going on temporary leave.
BharatPe co-founder Mr. Grover wants to sell his stake in the company. For this, he has also started talks with investors. The valuation of the company was $2.85 billion in August 2021 as per the sources Grover's share in this was 9.5 percent. This means they are shareholders of 1,915 crores in the company.