Ashmeer Grover, former MD of Bharat Pe, was fined INR 2 lakh

By Consultants Review Team Tuesday, 28 November 2023

The Delhi High Court fined Ashneer Grover, the former Managing Director and co-founder of Bharat Pe, 2 lakh rupees on Tuesday for spreading incorrect posts about Bharat Pe, notwithstanding his commitment to the court that he would not do so.

However, the court denied Bharat Pe's request that Ashneer Grover be barred from posting defamatory content. This decision is based on Grover's promise to desist from distributing any content in the future, as well as his regret for his earlier actions.

Earlier on November 24, Resilient Innovations, the parent company of BharatPe, filed a fresh action in the Delhi High Court stating that Ashneer Grover divulged 'secret information' about the company. According to the Economic Times on November 24th, the case seeks an injunction.

Earlier this week, Ashneer Grover, the struggling co-founder of BharatPe, revealed details on platform X about the distribution of stock and secondary components involved in the company's Series E investment round. The funding round, led by Tiger Global and including participation from the Dragoneer Investor group and other partners, raised $370 million and valued BharatPe at $2.86 billion. Grover, however, later withdrew the tweet

Earlier, Ashneer Grover was questioned by the Delhi Police's Economic Offences Wing (EOW) in connection with an alleged fraud case. This event came after the EOW issued a status report indicating linkages between eight human resource (HR) consulting firms and relatives of Grover's wife, Madhuri Jain.


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