30 September 2024
Sequoia Capital-backed Fintech Unicorn, BharatPe, announced on Monday that it has reached a settlement agreement with its former co-founder, Ashneer Grover. As per the agreement, Grover will no longer be involved with the company or hold any shares. He was removed as Managing Director in March 2022 following a board decision and has been involved in legal disputes with the company since then.
BharatPe disclosed that Grover's shares will be partly transferred to the Resilient Growth Trust, benefiting the company, while the rest will be managed by his family trust. Grover also stated that he will no longer be associated with BharatPe in any capacity and that his remaining shares will be managed by his Family Trust. Both parties have agreed to drop all ongoing legal cases as part of the settlement.
BharatPe emphasized its commitment to growth and profitability and expressed its focus on delivering top-tier financial solutions.
Sequoia Capital-backed Fintech Unicorn, BharatPe, announced on Monday that it has reached a settlement agreement with its former co-founder, Ashneer Grover. As per the agreement, Grover will no longer be involved with the company or hold any shares. He was removed as Managing Director in March 2022 following a board decision and has been involved in legal disputes with the company since then.
BharatPe disclosed that Grover's shares will be partly transferred to the Resilient Growth Trust, benefiting the company, while the rest will be managed by his family trust. Grover also stated that he will no longer be associated with BharatPe in any capacity and that his remaining shares will be managed by his Family Trust. Both parties have agreed to drop all ongoing legal cases as part of the settlement.
BharatPe emphasized its commitment to growth and profitability and expressed its focus on delivering top-tier financial solutions.
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