Fintech giant BharatPe’s parent, Resilient Innovations, has escalated its legal battle against co-founder Ashneer Grover. The company reportedly filed a fresh case in the Delhi High Court, accusing Grover of disclosing confidential information about BharatPe’s financial dealings, according to an ET report.
Ashneer Grover’s tweet
The conflict flared following Grover’s social media post detailing BharatPe’s Series E funding round. The post, which was later deleted, discussed equity allocation and secondary components of the $370 million fundraising, valuing BharatPe at $2.86 billion.
New York-based Tiger Global, Dragoneer Investment Group, and Steadfast Capital led the funding round. Existing investors Coatue Management, Insight Partners, Sequoia Growth, Ribbit Capital, and Amplo also participated in the round.
BharatPe’s stand
During a recent hearing, BharatPe’s counsel, senior advocate Akhil Sibal, argued that Grover breached his employment agreement by leaking sensitive company information. Despite his resignation, Grover allegedly continues to possess confidential data, a point of contention in the ongoing legal proceedings.
What did Grover’s defense say?
Responding to the allegations, Grover’s counsel, senior advocate Giriraj Subramanium, submitted an apology for Ashneer’s conduct, which the court accepted. However, Subramanium defended Grover’s need for the information, citing it as essential for defending against multiple legal proceedings he faces.
The case adds to the existing legal challenges for Grover, including a civil suit seeking damages for alleged embezzlement. Grover and his wife, Madhuri Jain, also faced scrutiny from the Delhi Police’s Economic Offences Wing (EOW), leading to their temporary detainment at Delhi’s Indira Gandhi International Airport. The EOW’s investigation links several HR consultancy firms to Jain, intensifying the allegations of financial misconduct.
Join our new WhatsApp Channel for the latest updates on Indian startup ecosystem
