Ashneer Grover lashes out at BharatPe, says statement comes from 'position of personal hatred & low thinking'

Former Managing Director of BharatPe, Ashneer Grover, has hit back at the FinTech company’s statement and said that it comes from ‘a position of personal hatred and low thinking’.

Following Grover’s resignation from the company, BharatPe had lashed out at him on Wednesday for "spinning lies and hurling baseless allegations and threats" against the digital payment company. In the statement, BharatPe said that Grover and his family "engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles" and, therefore as a result of these, he "is no longer an employee, a founder, or a director of the company".

The company had also said that it reserves all rights to take further legal action against Grover and his family.

Slamming the company, Grover said, “I am appalled at the personal nature of the company’s statement, but not surprised. It comes from a position of personal hatred and low thinking. I think the Board needs to be reminded of $1 million of secondary shares investors bought from me in Series C, $2.5 million in Series D and $8.5 million in Series E.”

“I would also want to learn who among Amarchand, PWC and A&M has started doing audit on ‘lavishness’ of one’s lifestyle? The only thing lavish about me is my dreams and ability to achieve them against all odds through hard work and enterprise. I hope the Board can get back to working soon - I as a shareholder am worried about the value destruction. I wish the Company and the Board a speedy recovery,” he added.

Earlier, on the midnight of Monday, Ashneer Grover, in an email sent to BharatPe’s board, said he’s resigning from the fintech firm amid a probe that is currently ongoing to investigate financial fraud at the company.

Alleging that the Board of BharatPe had ‘vilified’ him and treated him in the ‘most disrespectful manner’ since the beginning of the year, Grover wrote, “I hereby resign as the Managing Director of BharatPe, effective immediately. I also resign as a Director of the Board. I will continue as the single largest individual shareholder of the company. I have founded and built BharatPe into what it is today, and this identity, none of you can take away from me.”

This comes almost two months after an audio clip surfaced online in which Grover is allegedly abusing a Kotak Mahindra Bank employee.

Grover’s resignation comes on the back of Singapore International Arbitration Centre (SIAC) rejecting Grover’s emergency plea, last week, against the ongoing ‘governance review’ within the company, giving him no relief in the matter.

Last week, the services of his wife, Madhuri Jain Grover, as head of controls were terminated on allegations of misappropriation of funds.

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