According to media reports, the MCA has asked the company for information about the evidence it has submitted in court in the criminal case it has filed against Grover. The fintech company came into controversy in 2022 when its founder Ashneer Grover used abusive language and threatened a Kotak Group employee who was unable to secure an allotment during Nykaa’s IPO.
After the controversy, Ashneer Grover resigned as Managing Director of BharatPe and the company decided to have its financial accounts audited.
Company’s allegations
After the audit, BharatPe filed a case of misappropriation of funds and fraud against Ashneer Grover, his wife and his brother. The company claimed that Ashneer and his wife caused the company a loss of Rs 88.67 crore. The company had filed a case for damages. However, Ashneer denied the allegations against him and his wife.
The company also alleged that Ashneer Grover had no contribution in BharatPe technology.
Notice issued by MCA
The MCA has asked BharatPe to provide information about the following:
- The details of the legal action taken against Ashneer Grover.
- The evidence submitted in court against Grover.
- The steps taken by the company to prevent such incidents from happening in the future.
The MCA has also asked BharatPe to provide the information within 15 days.
BharatPe’s response
BharatPe has said that it will cooperate with the MCA and provide all the information required. The company has also said that it is committed to good corporate governance and will take all necessary steps to prevent such incidents from happening in the future.
This is a developing story. We will update this article as more information becomes available.