BharatPe seeks to prevent Ashneer Grover from having 1.4% stake

According to a report by CNBC, the Singapore International Arbitration Centre rules prevent Ashneer Grover from having 1.4 per cent of his shares in the company. This is the third action taken by the company after filing a civil case with the Delhi High Court and a criminal complaint with the Economic Offenses Wing.

Ashneer Grover holds a 8.43 per cent stake in the company, of which 1.4 per cent is unvested. The report shows that BharatPe initiated the arbitration after Grover didn't comply with the shareholders' agreement.

The company has also sent a legal notice to Grover urging him to transfer the unvested shares. The company has demanded over 88.67 crore from the Grovers. As per the interim relief the company has sought, it has also demanded disclosure of assets of Grover and his family members, restraining them from posting any derogatory material on social media, and permission to approach all media houses to remove or delete material that is against the company.

The Delhi High Court has issued a notice and summons to the couple and other family members to restrain them from making defamatory statements against the fintech company. It also issued summons to Grover's father, his brother-in- law, and his brother. Justice Navin Chawla gave the Grovers two weeks' time to file replies to BharatPe's petition. The matter was listed on January 9, 2023.

Business Today reached out to the BharatPe but they didn't want to say anything.