Court Orders Ashneer Grover to Pay Rs 2 Lakh Over BharatPe Posts

Ashneer Grover, the co-founder of the fintech firm BharatPe, recently tendered an apology before the Delhi High Court for his social media posts against the company. This apology was a response to a legal battle Grover is embroiled in with BharatPe. The Delhi High Court directed Grover to pay a fine of Rs 2 lakh for his consistent posts against the company, highlighting a persistent violation of the court’s earlier orders.

The case against Grover stems from his disclosure of confidential information about BharatPe’s business operations. Specifically, Grover shared details about the equity allocation and secondary components involved in BharatPe’s recent funding round, which was led by Tiger Global, raised $370 million, and valued the company at $2.86 billion. These disclosures were made in the context of an ongoing legal battle between Grover and BharatPe, which includes allegations of embezzlement and financial misconduct.

In May 2023, the Delhi High Court ordered Ashneer Grover and BharatPe to refrain from using unparliamentary language against each other. Grover’s lawyer submitted an unconditional apology and an undertaking to refrain from making any further defamatory posts against BharatPe.

Moreover, the case has wider implications. BharatPe’s parent company, Resilient Innovations, filed a fresh case against Grover in the Delhi High Court, seeking an injunction to prevent him from disclosing confidential information related to the company. Grover’s attorney mentioned that his client needed the information to defend himself in ongoing legal proceedings.

Additionally, after a five-month investigation, the Economic Offence Wing (EOW) of the Delhi Police filed an FIR against Grover, his wife, and other family members. BharatPe alleged that Grover and his family caused damages totaling Rs 81.3 crore, including illegitimate payments to bogus HR consultants, inflated payments through passthrough vendors, and illegal payments to travel agencies. The FIR outlined a modus operandi involving canceling orders with original vendors and replacing them at inflated rates with purported vendors connected to the accused, leading to losses for the company between 2018-2021​​​



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