Ashneer Grover, the co-founder and former managing director of Bharat Pe, was fined Rs 2 lakh by the Delhi High Court on November 28 for posting offensive content about the company. Nevertheless, Grover promised the court he wouldn't do anything, and the action was still taken.
Bharat Pe begged the court to stop Grover from publishing offensive material, but the request was denied. Grover's pledge to refrain from spreading similar content going forward and his apologies for his prior actions seem to have played a role in the decision.
According to a story published by SOURCES last week, BharatPe filed a new complaint on November 23 and requested the court's involvement to prevent Grover from publishing or revealing sensitive information about the company. The contention put out was that Grover remains subject to the secrecy restrictions delineated in his employment contract.
Grover, who is being investigated by the media for suspected financial irregularities at BharatPe, reportedly wrote last week on social media platform X regarding the secondary components and stock distribution during the company's Series E investment round. Tiger Global led this funding round, with participation from other investors as well as the Dragoneer Investor group.
Grover and his spouse Madhuri Jain were purportedly halted at the Delhi International Airport earlier this month because of an enforcement notice that was filed against them regarding the purported fraud at the fintech company.
The couple was on their way to take a trip to New York. The Delhi Police's Economic Offenses Wing (EoW) published a lookout circular that served as the basis for the intervention.
The EoW is looking into accusations about payments that were allegedly made at BharatPe to fictitious HR companies that Grover and his family were allegedly operating.
A civil lawsuit has also been launched by the fintech unicorn against Grover, his wife Jain, and additional family members. The lawsuit alleges financial misappropriation and demands damages totaling more than Rs 88 crore.
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