BharatPe files fresh case against Ashneer Grover: Here's why
Resilient Innovations, the parent company of BharatPe, has filed a fresh case against its co-founder Ashneer Grover in the Delhi High Court. The case accuses Grover of revealing confidential company information on social media, specifically about equity allocation and secondary components during BharatPe's Series E funding round. This funding round, led by Tiger Global, valued the fintech firm at $2.86 billion.
Company's counsel argues violation of employment agreement
BharatPe's legal representative, Akhil Sibal, argued that Grover breached his employment agreement by disclosing confidential details. Sibal also claimed that Grover still possesses confidential information despite his resignation, violating the company's employment terms. The court will address this issue in the next hearing. In response, Grover's counsel, Giriraj Subramanium, apologized for his client's actions and explained that Grover needed the information to defend himself against various legal proceedings.
New case adds to existing civil suit filed by BharatPe
This new case adds to an existing civil suit filed by BharatPe's parent company against Grover and his family, seeking up to Rs. 88.67 crore in damages for alleged embezzlement of funds. The conflict between BharatPe and Grover continues, with the company seeking an injunction against him for using "unparliamentary language" in his social media posts.
Ongoing dispute and lookout circular against Grover
Earlier this week, Grover appeared before the Delhi Police's Economic Offences Wing (EOW) for questioning in an alleged fraud case. The EOW issued a lookout circular (LoC) against Grover and his wife, Madhuri Jain, resulting in their detainment at Delhi's Indira Gandhi International Airport while attempting to travel to New York.
