BharatPe divorces Grover:Fintech major BharatPe has announced a complete separation from its former co-founder Ashneer Grover by reaching a final mutual agreement, according to a public statement posted by the company on X.com (formerly Twitter).
Under the terms of the deal, 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 entered into a definitive agreement with its former co-founder Ashneer Grover. As part of the agreement, Mr. Grover will not be associated with BharatPe in any capacity nor will he be a shareholder in the company. Certain shares of Mr. Grover will be transferred to the Resilient Growth Trust for the benefit of the Company and the remaining shares will be managed by his family trust. “Both parties have decided not to continue with the cases presented,” the tweet said.
“We wish Mr. Grover the best. BharatPe continues to focus on providing industry-leading solutions to its merchants and customers, driving growth with profitability,” BharatPe added.
Ashneer Grover also tweeted about the shared agreement saying that he “has his faith in the management and board of directors.”
“I have reached a decisive agreement with BharatPe. I have confidence in the management and board, who are doing a great job in taking BharatPe in the right direction. I remain aligned with the growth and success of the company,” Grover tweeted.
“I will no longer be associated with BharatPe in any capacity, nor will I be part of the capital desk. My remaining shares will be managed by my Family Trust. Both parties have decided not to continue with the cases presented. I look forward to BharatPe continuing to grow and succeed for the benefit of all its stakeholders,” Grover added.
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