BharatPe removes Ashneer Grover from all positions at company

BharatPe has also found involvement of Mr. Grover’s family and relatives in extensive misappropriation of the company’s funds

March 02, 2022 01:06 pm | Updated 01:06 pm IST - New Delhi

Ashneer Grover

Ashneer Grover | Photo Credit: The Hindu

Fintech firm BharatPe on March 2 said it has removed Co-Founder Ashneer Grover from all positions at the company.

BharatPe has also found involvement of Mr. Grover’s family and relatives in extensive misappropriation of the company’s funds.

"The board will not allow the deplorable conduct of the Grover family to tarnish BharatPe' s reputation or that of its hard-working employees and world-class technology. As a result of his misdeeds, Mr. Grover is no longer an employee, a founder, or a director of the company," BharatePe said in a statement on Wednesday.

Mr. Grover resigned from the post of Managing Director on Tuesday.

According to the statement, Mr. Grover’s family and their relatives engaged in extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s account and grossly abused company expense accounts in order to enrich themselves and fund their lavish lifestyles, it said.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.