A new dispute emerges over Bhavik Koladiya’s stake in BharatPe

Share Us

828
A new dispute emerges over Bhavik Koladiya’s stake in BharatPe
05 Mar 2022
6 min read
TWN In-Focus

News Synopsis

Disputes at one of the major fintech companies of India- BharatPe doesn’t seem to settle down anytime soon. Recently, BharatPe terminated Madhuri Jain, wife of Ashneer Grover, who is the former Managing Director of the fintech company. Later,  Ashneeer Grover resigned from the company he founded putting some serious allegations against the Board and Investors. Both the husband and wife were accused of serious financial irregulations and fund misappropriation at the company. Now another dispute seems to be emerging in BharatPe, but this time not because of the Grover Family but over the stake of Bhavik’s Koladiya in the company. Bhavik Koladiya after the conviction in the US credit card scam split his stake between Grover and Shaswat Nakrani. Now after the exit of Mr. Grover, a tense situation has engulfed the company over the transfer of some of the Koladiya’s stake to Grover. According to an anonymous company official:“Before Sequoia Capital came into the picture, Koladiya’s stake was split between the other two founders to take him off the cap table. There was an email conversation on the matter as well.”

Podcast

TWN In-Focus