Another Bharat Pe founder, Shashvat Nakrani, is about to sue the startup`s co-founder and previous handling director Ashneer Grover over “unpaid stocks", reviews stated on March 23.
The improvement comes slightly months after co-founder Bhavik Koladiya filed a case towards Grover who had an acrimonious go out from the firm.
Nakrani and Koladiya based BharatPe in March 2018, with every proudly owning a 50 percentage stake withinside the firm. Grover joined as a 3rd co-founder and board member withinside the July of the identical year, and bought 3,192 stocks —2,447 stocks from Nakrani and 745 from Koladiya— for ₹10 apiece, the document stated.
After the percentage transfer, the shareholding sample of BharatPe modified to Koladiya proudly owning 42.five percentage, Grover 31.nine percentage and Nakrani 25.five percentage. As a part of the transaction, Grover changed into to pay ₹24,470 to Nakrani and ₹7,450 to Koladiya, the document stated.
“In a lawsuit, Nakrani claims that Grover has now no longer but paid for the stocks and, therefore, he's traumatic his stocks back," Mint quoted someone having information of the problem as saying. “After the inventory split, the 2,447 stocks at the moment are 24,470 stocks with every percentage worth about ₹four lakh," the reassets added.
In December 2022, the fintech had sought as much as Rs 88 crore in damages from Grover's spouse Madhuri Jain and different own circle of relatives participants. It alleged that the Grover own circle of relatives created faux bills, enlisted fictitious providers to offer offerings to the enterprise and overcharged for recruitment.
The enterprise filed a crook criticism towards Grover and his own circle of relatives participants with the Economic Offences Wing (EOW) on 17 counts, consisting of crook breach of trust, forgery, file fabrication, and embezzlement.
In February 2022, Grover's spouse Madhuri Jain Grover were terminated as the pinnacle of controls on allegations of budget misappropriation and days after this on March 1, Grover himself resigned as MD and director of the startup enterprise.
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