Page 2 - Bharatpe

BharatPe launches all-in-one payment device: Know how it helps merchants

BharatPe One device combines point of sale, QR code, and speaker functionalities

Fintech major BharatPe launches an 'all-in-one' payment acceptance device

The device enables transactions via different methods such as point-of-sale (PoS), quick response (QR) code, tap-and-pay and traditional card payment options such as debit and credit cards

BharatPe launches payment device BharatPe One with integrated POS

Indian fintech major BharatPe on Tuesday launched BharatPe One, an all-in-one payment product that integrates POS (point of sale), QR code, and speaker into one device. The company in a statement said it plans to launch the product in about 100 cities in the first phase. It will further scale it to around 450 cities over the course of the next 6 months. "Equipped with a high-definition touchscreen display, 4G and Wi-Fi connectivity, and powered by the latest Android operating system, BharatPe One delivers enhanced performance and security. "With user-friendly interface, portable design, and comprehensive transaction dashboards, BharatPe One caters to the diverse needs of the offline merchants," the statement said. BharatPe One is designed to streamline transactions for merchants, it further said, offering versatile payment acceptance options including dynamic and static QR code, tap-and-pay and traditional card payment options, across a wide range of debit and credit cards. Bharat

BharatPe elevates Nalin Negi to full-time CEO after Sameer's exit in 2023

Fintech firm BharatPe on Tuesday said it has elevated its interim CEO and chief financial officer Nalin Negi as full-time chief executive officer. Negi was given charge of interim CEO in January 2023 after then CEO Suhail Sameer stepped down from the post. "We look forward to supporting Nalin Negi in his new role and are grateful for his tremendous contribution as the interim CEO. His extensive experience in the fintech industry and the growth witnessed for BharatPe under his leadership, makes him a natural choice to lead the company," BharatPe, Chairman of the board, Rajnish Kumar said. Negi joined BharatPe in 2022, with over 28 years of experience in building and scaling businesses in the fintech and banking domains. "I am excited and honoured to take on this new role at BharatPe. Going forward, our strategic focus will be on sustained profitability, scaling lending businesses, and launching new merchant-centric products. "We are committed to building on the strong foundation, .

BharatPe rejigs senior management of payment, lending unit verticals

Fintech firm BharatPe is learnt to have rejigged senior management of its payment and lending unit verticals, according to sources. The company has elevated its banking and alliance Chief Business Officer Sandeep Indurkar as CEO of payment vertical -- Resilient Payments Pvt Ltd. CEO BharatPe's Zillion -- erstwhile Payback India -- Rijish Raghavan will now handle device business of the company. The company's head for consumer lending vertical Kohinoor Biswas will handle Zillion in place of Raghavan. All three will report to BharatPe's CFO and interim CEO Nalin Negi. An emailed query sent to BharatPe elicited no response. There has been no change in the merchant app vertical. The company has seen improvement in business with 182 per cent year-on-year increase in revenue from operations to Rs 904 crore in FY23, while loss before tax fell to Rs 886 crore from Rs 5,594 crore during the period. A significant progress was made in reducing loss before tax, from Rs 5,594 crore to Rs 886

Ashneer files plea in NCLT, seeks exemptions in petition against BharatPe

BharatPe co-founder and former managing director Ashneer Grover has filed a plea before NCLT seeking waiver over a petition earlier filed by him alleging oppressive conduct and mismanagement by the board of the fintech firm. On this, the Delhi bench of National Company Law Tribunal (NCLT) on Monday issued a notice, seeking reply from BharatPe and other respondents and listed the matter for the next hearing in April. Last December, Grover had filed a plea before NCLT alleging oppressive conduct and mismanagement by the board of Resilient Innovations Pvt Ltd, which is doing business as BharatPe, under sections 241 and 242 of the Companies Act 2013. However, section 244 of the Act also mandates that the shareholder, to file an appeal under section 241, should have a minimum of 10 per cent of the shares of the company. It also empowers NCLT "may, on an application made to it in this behalf, waive all or any of the requirements specified" so as to enable a petitioner to apply under sect

Confusion and concern: Traders brace for impact of Paytm crisis

Some shift to alternatives and shun the platform, others still swear by it

MCA issues fresh notice to fintech BharatPe as part of ongoing inquiry

BharatPe claimed that the notice pertained to an inquiry initiated in 2022, requesting additional information on its operations and actions taken against co-founder Ashneer Grover

BharatPe fraud: Ashneer Grover, wife move HC challenging lookout circular

Payment app BharatPe's former MD Ashneer Grover and his wife on Thursday approached the Delhi High Court seeking quashing of the Look Out Circular (LOC) issued against them in connection with the investigation in a cheating and forgery case. Justice Subramonium Prasad, before whom the matter came up for hearing, listed it for May 8 saying the investigation in the case registered by the Delhi Police's Economic Offences Wing (EOW) is at a nascent stage. It is too hot in the day for this court to intervene now. Come after sometime. The investigation is at a nascent stage and they will take some time to investigate, the high court said. It further said that at this juncture, it will not be correct to say that the LOC is completely unjustified. As an interim relief, Grover and his wife Madhuri Jain Grover have sought suspension of the LOC issued against them with a further direction to the authorities not to interfere with or prevent their right to travel abroad. The court asked the ..

BharatPe earns Rs 904 cr against a loss before tax of Rs 886 cr in FY23

BharatPe's EBITDA loss declined by about Rs 158 crore in FY23, it said in a statement

Ashneer Grover approaches NCLT seeking reinstatement as BharatPe MD

Ashneer Grover also sought the revocation of the termination of his wife Madhuri Jain Grover and directions to revert any new shares issued by the firm since his resignation

NCLT directs Grover to establish maintainability of plea against BharatPe

The case will next be heard by the New Delhi bench of the National Company Law Tribunal (NCLT) on January 11

Ashneer Grover fined Rs 200,000 for defamatory content on BharatPe

The court has directed the fine to be deposited with the Delhi High Court Clerks Association

BharatPe turns Ebitda positive in Oct, annualised revenue up Rs 1,500 cr

The company is aiming to achieve profitability for a complete fiscal in the upcoming year

HC imposes Rs 2 lakh as costs on Ashneer Grover over posts on BharatPe

The Delhi High Court on Tuesday imposed Rs 2 lakh as costs on BharatPe co-founder Ashneer Grover in the matter related to his alleged defamatory social media posts against the fintech company. Justice Rekha Palli took on record the apology and the undertaking given by Grover but proceeded to impose costs on him, saying the "court cannot be taken for granted". The judge, while dealing with a plea by Resilient Innovations Pvt Ltd - which owns BharatPe - against its former MD, said the court was "appalled" to note the "persistent" and "blatant" violation of the earlier orders and assurances given by Grover in this regard. "Taking into account that defendant no 2 is now filing an affidavit specifically undertaking not to post any such defamatory posts in future and is also apologising for his past behaviour, this court is inclined to close the matter at this stage by binding the defendant no 2 to his undertaking. This is, however, subject to a payment of costs of Rs 2 lakh," the court

Delhi HC imposes Rs 2 lakh fine on Ashneer Grover for violating court order

Ashneer Grover tendered an unconditional apology. Though the court accepted the apology, however, it said that it is subject to him paying the costs to Delhi High Court Clerk Association

BharatPe turns EBITDA positive, clocks Oct 2023 as first profitable month

Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines

BharatPe takes fresh legal action against co-founder Ashneer Grover: Report

The case is in addition to the earlier civil suit filed by Resilient Innovations against Ashneer Grover

'Delivering nothing': Ashneer Grover slams ex-SBI chief Rajnish Kumar

BharatPe co-founder Ashneer Grover attacked former State Bank of India (SBI) chairman Rajnish Kumar and said 'delivering nothing and creating a deflection to hide behind is the easiest'

'I'll be last man standing': Ashneer Grover on charges of fake invoices

BharatPe had alleged that Grover and his family paid for their South Delhi house, vacations, skincare and appliances with the company's money