NEW DELHI: Startup poster boy Ashneer Grover, who was removed as an “employee, a founder, or a director” by BharatPe — a fintech he had co-founded — was stripped of 1. 4% equity shares worth Rs 300 crore as he and his family members were accused of committing a financial fraud. The move came just a day after he tendered his resignation.
The Tiger Global-backed BharatPe accused the “Grover family and their relatives” of engaging in “extensive misappropriation of company funds, including, but not limited to, creating fake vendors through which they siphoned money away from the company’s expense account”. It added that the account was grossly abused in order to “enrich themselves and fund their lavish lifestyles”.
