BharatPe’s former co-founder Bhavik Koladiya has reportedly sued his former partner Ashneer Grover. As per updates Koladiya has sued Grover over a dispute in shares of the company.
BharatPe News: This case between Bhavik Koladiya and Ashneer Grover is expected to be heard in the Delhi High Court today, on January 18
BharatPe’s former co-founder Bhavik Koladiya has reportedly sued his former partner Ashneer Grover. As per updates Koladiya has sued Grover over a dispute in shares of the company.
According to a report in the Economic Times, this case is expected to be heard in the Delhi High Court today, on January 18. The former co-founder Koladiya reportedly held around 30.21 per cent stake in BharatPe. But when he had to exit the cap table due to his past conviction for credit card fraud in the United States, this share reportedly came under scanner.
Since the issue caught fire, Koladiya’s involvement would have reportedly impacted the fundraising process with big institutional investors. And hence, he had to step down from the role and let go of his shares in BharatPe, as per the ET report.
The report goes on to add that in multiple conversations, Ashneer Grover also maintained that Koladiya had sold his shares to him and other buyers. However, as per Koladiya’s statement to ET, he had “triggered an agreement he had signed with Nakrani and Grover in 2018 to get his pledged shares of BharatPe,” adding that while Nakrani had honoured the deal, Grover did not revert.
BharatPe has been in the news recently due to several issues. From what started with allegations on the Grovers’, slowly spread to other parts of the company with issues like these also coming to light. Recently, BharatPe’s CEO Suhail Sameer also stepped down from the role.