BharatPe's attorney claimed that Grover was in breach of the employment contract and that he was still in possession of secret company information even after resigning.
The parent company of fintech company BharatPe, Resilient Innovations, has filed a new petition in the Delhi High Court, requesting an injunction against co-founder Ashneer Grover for disclosing “confidential information” about the business, according to a report by ET.
The company's Series E investment round, managed by Tiger Global and including participation from Dragoneer Investor group and others, involved the stock allocation and secondary components, as the beleaguered founder wrote last week on social media platform X (previously Twitter).
BharatPe, the fintech for payments and financial services was valued at $2.86 billion after a $370 million fundraising campaign.
BharatPe's attorney argued that Grover had broken his employment agreement by disclosing private corporate information during the case's Friday hearing at the Delhi High Court.
Additionally, BharatPe's attorney claimed that Grover was in breach of the employment contract and that he was still in possession of secret company information even after resigning.
Grover's attorney apologised to the court for the behaviour (tweeting private company information), and the court accepted his apology. The attorney added that his client needed this information in order to defend himself against the numerous legal actions brought against him.
At the next court hearing, Grover's continued possession of proprietary company information will be discussed.
Grover was represented by senior counsel Giriraj Subramanium, while BharatPe was represented by prominent advocate Akhil Sibal and briefed by Anuj Berry of Trilegal.
The new action is an addition to the civil suit that BharatPe's parent filed against Grover and his family at the Delhi High Court. The petition seeks damages for suspected fund theft up to Rs 88.67 crore.
Even in that instance, Grover's social media activity has caused friction between the two parties; BharatPe is requesting an injunction, alleging Grover's use of "unparliamentary language" in his remarks against the company.