Ashneer Grover , Bharat Pay : The long battle between fintech company BharatPe and its former co-founder Ashneer Grover has come to an end. According to information received on Monday, an agreement has been reached after a long legal battle in the case of the misappropriation of funds worth Rs 88.67 crore. Bharat Pay has said in a statement to IANS that according to the agreement, Grover is no longer associated with the company in any way, and neither will he have any shareholding in the company. BharatPe further said that both the parties have decided not to pursue the filed cases.

What was the agreement?

A company spokesperson said that some of Grover's shares will be transferred to the Resilient Growth Trust for the benefit of the company and his remaining shares will be managed by his family trust. The company has said that we wish Grover well. BharatPe will continue to offer industry-leading solutions to merchants and customers while continuing profitable growth. On the other hand, Grover has written in a post on the social media platform X that he has reached an agreement with BharatPe. I have full faith in the board and management of BharatPe, they are working to take the company forward in the right direction.

I won't join anymore.

Grover further wrote that I will no longer be associated with Bharat Pay in any way. This includes shareholding. My remaining shares will be managed by the family trust. Both parties have decided not to pursue the case further. I am confident that all parties of Bharat Pay will benefit from this. Ashneer Grover and his wife Madhuri Jain Grover were fired from Bharat Pay in the case of misappropriation of funds worth Rs 88.67 crore. After this, the company approached the High Court for the return of the money.

Last week, the Economic Offenses Wing (EOW) of Delhi Police arrested Deepak Gupta in this case, who was from Grover's family. Earlier, another accused Amit Bansal was also arrested by the EOW.