Ashneer Grover and BharatPe Reach Settlement, Ending Legal Dispute

Ashneer Grover, co-founder of BharatPe, withdrew his plea from the NCLT after reaching a settlement with the company. The settlement resolves allegations of mismanagement and misconduct and stipulates that Grover will not hold any role or shares in BharatPe. The legal proceedings spanned over two years.

A significant legal battle involving Ashneer Grover, the former managing director of BharatPe, reached a conclusion as Grover withdrew his plea from the National Company Law Tribunal (NCLT). The withdrawal followed a settlement agreement reached on September 30, 2024.

The agreement, presented to the NCLT, marked the end of Grover's accusations against BharatPe's board concerning oppressive conduct and mismanagement. Under the settlement, Grover has no further ties with BharatPe, either in a managerial capacity or as a shareholder.

The legal dispute, which had roots in Grover's 2022 removal from BharatPe's board, included allegations and petitions for reinstatement and corporate audits. With the finalized settlement, shares previously held by Grover will benefit the Resilient Growth Trust, with remaining shares under the family trust's management.

(With inputs from agencies.)