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Business News/ Companies / People/  Ashneer Grover schools Bhavik Koladiya on dignity after the BharatPe founder issues apology

Bhavik Koladiya apologised to Ashneer Grover for his earlier behaviour over the phone. The original founder of BharatPe shared a YouTube clip, where he could be heard abusing Grover who refused to meet with him in person. Koladiya can be heard abusing Ashneer Grover after that.

As per Koladiya, he was at his “worst" during that conversation. He, thereafter, says “sorry" to Grover while tagging Prime Minister Narendra Modi as well. When he was asked what made him tag PM Modi in the tweet, he replied while mentioning BharatPe Chairman Rajnish Kumar, “I have to apologize to him. He is my prime minister. We can't make fun of Rajnish sir. He is our elder and "custodian of Trust"."

Also Read: Bhavik Koladiya vs Ashneer Grover: Delhi HC issues summons to Grover

The tweet was posted late at night on May 31. Grover has now replied to the tweet. “I wish I cared enough. Dude - get on with your life and try to make news without tagging me in these random tweets. Kab tak sab mere naam ka khaoge ? Apni izzat apne haath ! (For how much longer do you intend to exploit my name for personal gain? The preservation of your dignity rests solely upon your own shoulders.)," wrote Ashneer Grover.

BharatPe witnessed a significant internal shakeup last year as co-founder Ashneer Grover was ousted from the company's board in March 2022. Allegations were made that Grover attempted to propagate a false narrative about the startup. Shashvat Nakrani, another co-founder, supported the decision taken by the board, emphasising that it was a swift and resolute action aimed at upholding principles of good corporate governance.

Founded in March 2018 by Nakrani and Koladiya, BharatPe initially maintained an equal ownership split between the two co-founders. However, in July 2018, Ashneer Grover joined the company as a third co-founder and board member. Subsequently, Grover acquired 3,192 shares, purchasing 2,447 shares from Nakrani and 745 shares from Koladiya, with each share valued at 10.

Also Read: Ashneer Grover: Bhavik Koladiya has pulled off India’s biggest data theft at BharatPe

This share transfer resulted in a notable shift in the shareholding pattern of BharatPe. Koladiya's stake decreased to 42.5%, Grover held 31.9%, and Nakrani maintained ownership of 25.5%. As part of the transaction, Grover was obligated to pay 24,470 to Nakrani and 7,450 to Koladiya. However, a lawsuit has been filed by Nakrani, asserting that Grover has failed to fulfil his payment obligations. Consequently, Nakrani is seeking the return of his shares.

Following a stock split, the 2,447 shares acquired by Grover have now multiplied to 24,470 shares, each valued at approximately 4 lakh. The ousted co-founder, Grover, and the board are engaged in an intricate legal battle, with the outcome likely to shape the future trajectory of BharatPe and its leadership structure.

Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and social media. Before working with digital news publications, he worked as a freelance content writer.
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Updated: 01 Jun 2023, 02:11 PM IST
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