Fresh case filed against Ashneer Grover by BharatPe: Report

BharatPe's parent, Resilient Innovations, has filed a fresh case in the Delhi high court against Grover for revealing “confidential information” related to the company on social media, said a report in a financial daily.

Senior advocate Akhil Sibal who is representing BharatPe has sought an injunction against Grover for his comments on social media about the company’s Series E funding, said an Economic Times report. Grover had given details last week in a post on X (formerly Twitter) about the “equity allocation and secondary components” of the company's Series E funding round, led by Tiger Global.

BharatPe’s counsel argued in the Delhi high court on Friday that by divulging the company’s confidential information, Grover had violated his employment agreement. And, pointed out that he continued to hold vital information about the company that was confidential despite his resignation.

Further, the report stated that Grover’s counsel advocate Giriraj Subramanium, submitted his apology for the tweet, which he has subsequently deleted. And, the court accepted his that his apology, added the report.

Earlier case

Earlier too, in the case filed by the parent company against Grover for alleged embezzlement of funds, he had got into trouble for using “unparliamentary language” against the company on social media. Resilient Innovations had sought an injunction against him at that time as well.

In this case against Grover, which involves alleged embezzlement of funds, the parent company is seeking damages upto ₹88.67 crore.

Meanwhile, Grover and his wife Madhuri Jain, were recently questioned by the Delhi's Economic Offences Wing (EOW) in the alleged ₹81 crore fraud case. In May 2023, the fintech firm had filed a complaint against Ashneer Grover and his family of alleged fraud of ₹81.3 crore through illegal payments.

The company has alleged that Grover and his wife allegedly made fake payments to human resource consultants, forged invoices, made illegal payments to travel invoices, etc.

Madhuri Jain, formerly the joint director-HR at BharatPe, who was terminated last year, is the central figure in these accusations. After the complaint, Grover, who is famous as one of the 'sharks' on Shark Tank India, resigned as CEO.

If found guilty, the accused can face a sentence ranging from 10 years to life imprisonment.

Lookout circular

Recently, the couple was stopped from boarding a flight to New York at Delhi's Indira Gandhi International Airport, due to a lookout circular (LoC) issued by the Delhi Police's Economic Offences Wing.