Former BharatPe MD Ashneer Grover fined Rs 2 lakh, apologises in court for social media posts
New Delhi, November 28: Ashneer Grover, the former Managing Director and co-founder of BharatPe, issued an apology in court for his social media posts against the company and was fined Rs 2 lakh by the Delhi High Court. Despite assuring the court that he would refrain from such posts, the court expressed dismay at Grover's conduct and imposed the fine for violating its orders.
Grover had previously shared details on social media about the equity allocation and secondary components of BharatPe's Series E funding, leading to legal action by Resilient Innovations, the parent company of BharatPe.
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In response to Grover's actions, BharatPe filed a fresh case in the Delhi High Court seeking an injunction to prevent the disclosure of what it deemed 'confidential information.' The court session on November 24 saw BharatPe's counsel arguing that Grover's actions violated his employment agreement by disclosing confidential company information. This legal action is separate from an ongoing civil suit against Grover and his family members, where BharatPe is seeking damages of up to Rs 88.67 crore, alleging embezzlement of funds.
Grover, accompanied by his wife Madhuri Jain, faced questioning by the Delhi Police's Economic Offences Wing (EOW) last week in connection with an alleged fraud case. The investigation revealed links between eight human resource consultancy firms and Jain, who is Grover's wife and the former head of controls at BharatPe. The duo was detained at Delhi's Indira Gandhi International Airport on November 17 based on a look-out circular (LoC) issued by the EOW.
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- With inputs from agencies
