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Fintech start-up BharatPe has denied reports of terminating the company’s co-founder and managing director, Ashneer Grover.
“The Board of BharatPe has not terminated the services of any employee at this stage. Reports suggesting any termination are baseless and untrue. The Board remains committed to an independent and thorough audit process. No action has been taken or will be taken till the audit has been completed. We again urge the media not to speculate in advance of the report and make a judgement based on uninformed sources,” the company said in a statement.
Grover has been in the midst of controversy for an audio recording allegedly featuring the entrepreneur bashing a Kotak Mahindra Bank relationship manager. Following this, Grover took a voluntary leave of absence from the company till March-end, as company CEO Suhail Sameer continues to lead the team. On Saturday, BharatPe’s Board also announced that they are conducting an independent audit of the company’s internal processes and systems. The company has appointed Alvarez and Marsal firm to advise the Board on its recommendations.
Ashneer praises Kotak
Interestingly, amid the ongoing tussle between Grover and Kotak Mahindra Bank, the entrepreneur has praised Uday Kotak in a LinkedIn comment earlier this week, where he said, “Kotak is a legend. I had the fortune of starting my career in Kotak, 7 years, and can tell you no one understands or does finance better in India.” The comment was made in response to a LinkedIn post by Radhika Bajoria, a communications professional at Touchstone Partners, that spoke about Uday Kotak’s life journey from wanting to become a cricketer to now captaining the banking system and having a net worth of $16 billion.
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