BharatPe said in a statement that the board has followed due process in all of its actions in the best interests of the company and that it has yet to receive an interim of the final governance review report, despite the allegations made against board members.
The announcement comes after BharatPe Managing Director Ashneer Grover said in an interview with Moneycontrol that the board was pressuring him to leave the company.
“We are deeply pained that the integrity of the BharatPe board or individual board members is being questioned time and again through misrepresented facts and baseless allegations. The board in all its actions has followed due process in the best interest of the company,” the company said in a statement
Suhail Sameer, the fintech’s CEO, has been accused by Grover of siding with the investors in an attempt to force him out of the company.
While Grover and the company have tried to strike a conciliatory tone in public so far, this is the first time that the divisions are so open and obvious, even as the company’s governance and business practises come under increased scrutiny. This confirms what sources have been saying for the past week: the board is not keen on Grover returning.
Grover’s wife Madhuri Jain Grover, who headed controls, also took a leave of absence until the end of March amid backlash over his abusive language to a Kotak employee, toxic culture at BharatPe, and brash behaviour. Grover took a leave of absence until the end of March amid backlash over his abusive language to a Kotak employee, toxic culture at BharatPe, and brash behaviour. The board of directors of BharatPe is conducting a forensic investigation into the company’s practises, which includes accounting, approval processes, expenses, and hiring.
The hostility came just weeks after Sameer gave him a public vote of confidence, stating that Ashneer had “zero chance” of leaving BharatPe because he was so important to the company.
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