BharatPe and Ashneer Grover Reach Settlement Amid Legal Disputes

Fintech firm BharatPe has settled its protracted conflict with former co-founder Ashneer Grover. The agreement precludes Grover's future involvement with BharatPe, as he transfers his shareholding to the company board and family trust. The settlement ends all legal disputes between the two parties, concluding a high-profile corporate saga.

Fintech firm BharatPe has reached a settlement with its former co-founder Ashneer Grover, ending months of acrimonious legal and public dispute, the two sides said on Monday.

As part of the settlement agreement, Grover will not be associated with BharatPe in any capacity nor be a part of the shareholding of the company.

Grover will transfer a part of his shareholding to the BharatPe board and the rest will be managed by a family trust, keeping him off the company's capital table. Also, the two sides will not pursue legal cases, BharatPe and Grover said in separate statements.

(With inputs from agencies.)