 "BharatPe takes fresh legal action against co-founder Ashneer Grover: Report")
Resilient Innovations, the parent firm of BharatPe, has filed a case in the Delhi High Court against Ashneer Grover, seeking an injunction after he divulged what it said was 'confidential' information about the fintech company in the public domain. The hearing against Grover took place on Friday, reported the Economic Times (ET).
What is the case?
In a post on X (formerly Twitter), Grover put out details regarding the equity allocation and secondary components undertaken during BharatPe's Series E funding round, led by Tiger Global, with participation from Dragoneer Investor group, among others.
At the $370 million fundraise, the Delhi-based fintech major was valued at $2.86 billion. Meanwhile, the social media post has since been deleted.
What happened in the court?
Appearing before Justice Sachin Dutta's bench, BharatPe's counsel alleged that the 41-year-old, who resigned in March 2022, still has 'sensitive' information about the company– including the details revealed by him – despite his resignation, and is, therefore, in violation of his obligations under an employee agreement.
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Grover, through his counsel, issued an apology, which the bench accepted, although he argued that the information was 'necessary' due to the various proceedings instituted against him. The case will now be heard on the next scheduled date.
BharatPe vs Ashneer Grover
The case is in addition to the earlier civil suit filed by Resilient Innovations against the entrepreneur, in which the former accused the latter and his family of causing damages to the company to the tune of about Rs 81.3 crore. A separate bench is hearing that case of the high court.