BharatPe to ‘claw back’ Ashneer’s restricted shares, blocks vendors

BharatPe said it has initiated action against ex-founder Ashneer Grover to “claw back his restricted shares as per the shareholders’ agreement” and will take steps to enforce its right under law.

ading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company’s former founder Ashneer Grover to “claw back his restricted shares as per the shareholders’ agreement” and will take all steps to enforce its right under the law.

As part of its corporate governance review of the company after the financial irregularities were unearthed during Ashneer and his wife Madhuri Jain Grover’s time, the company found many vendors were involved in malpractices, such as incorrect or inflated invoices, who have been blocked for further business with the company.

“These vendors were also identified during the GST Enquiry. The company has already issued legal notices to…read more

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