Page 5 - Bharatpe

BharatPe files arbitration to claw back Ashneer Grover's 1.4% shares

Upping the ante, fintech unicorn BharatPe has filed an arbitration for clawing back it's former MD and co-founder Ashneer Grover's restricted shareholding and founder title, sources said. The arbitration was filed on Thursday under Singapore International Arbitration Centre (SIAC) rules, sources with direct knowledge of the matter said. If relief is granted, Grover may lose his unvested shares and right to use the founder title. Grover, who BharatPe has accused of cheating and embezzlement of funds, holds about 8.5 per cent of the company. Of this, 1.4 per cent is not vested. The company did not immediately offer any comment. The action follows a detailed corporate governance review by the company's board into allegations of lapses and misdoings during the tenure of Grover as managing director. The arbitration proceedings were initiated after Grover refused to comply with the shareholders' agreement, sources said without elaborating. This is BharatPe's third legal action against

Ashneer takes a dig at media as BharatPe sues him, family for fraud

'Come on Press: Ek story kitni baar bechoge! Saal ke shuru mein bhi same - end mein bhi same,' said Ashneer Grover

Delhi HC summons Ashneer Grover, wife and kin over BharatPe's complaint

Fintech unicorn accuses them of fraud, claims Rs 88.67 crore

Ashneer Grover saga: A timeline of how things went wrong at BharatPe

BharatPe has filed a case against Ashneer Grover's wife, Madhuri Jain, under Section 420 for a fraud of Rs 88 crore

BharatPe sues Ashneer Grover and wife, seeks Rs 88 cr for swindling firm

Fintech platform BharatPe said it has initiated criminal and civil proceedings against its former Co-Founder, Ashneer Grover and his wife Madhuri Jain Grover over misappropriation of company funds

Four senior execs quit BharatPe, to pursue 'entrepreneurial passions'

Among the top brass leaving today were Vijay Aggarwal, Rajat Jain, Geetanshu Singla, and Nehul Malhotra

BharatPe sees fresh resignations at top level as CTO, CPO move on

Fintech platform BharatPe has hit with a fresh wave of resignations at the top level, as its chief technology officer Vijay Aggarwal and Rajat Jain, chief product officer (CPO), have quit among others

BharatPe's PoS vertical turns profitable within 2 years of launch

BharatPe is the No. 2 private POS player in the country with an installed base of close to 2 lakh machines across more than 250 cities in the country, the firm said in a statement

We've moved away from being a founder-run company: BharatPe's Suhail Sameer

In a Q&A, the firm's CEO asserts that the company is now professionally run and is focused on being IPO ready

Former RBI deputy governor Kanungo, Kaushik Dutta join BharatPe board

Fintech unicorn BharatPe has appointed former RBI deputy governor B P Kanungo and TARI founder Kaushik Dutta as independent directors as it looks to strengthen governance rigour and transparency in the preparation of a listing. "Business is about to turn profitable in a few months and we are strengthening governance at the company by appointing independent directors," BharatPe CEO Suhail Sameer told PTI. The firm, which currently has nine directors on its board, is looking to have at least one-third of directors as independent directors, he said. Besides Sameer, co-founder Shashvat Nakrani is on the board as executive director. Investors have four nominees. The board is chaired by former SBI chairman Rajnish Kumar. BharatPe, he said, would look to go public in the next 2-3 years' time. "Post-2024 (general) elections should be a good period," he said. While Kanungo recently retired as Deputy Governor of the Reserve Bank of India, Dutta currently is the chairman and independent dire

BharatPe hits $20 bn in annualised TPV, leaves Ashneer Grover saga behind

Fintech platform BharatPe said it has reached an all-time high of $20 billion in annualised total payments value, expanding its footprint to 400 towns and cities, as it leaves the Ashneer saga behind

Fintech platform BharatPe appoints Nalin Negi as new CFO amid IPO plans

Fintech platform BharatPe on Wednesday said it has appointed former SBI Card CFO Nalin Negi as its new chief financial officer, as it prepares for its initial public offering (IPO).

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

BharatPe back on track after Ashneer controversy, records 112% growth

BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) -- a growth of 50 per cent over the last quarter

Facilitated Rs 3,600 cr loans in Q1FY23, up 112% QoQ, says BharatPe

Helped disbursals to over 120,000 merchants in Q1FY23, up from 66,000 merchants in Q4FY22

Pine Labs acquiring fintech infrastructure start-up Setu for $70-75 mn

Pine Labs, backed by investors such as Sequoia Capital, PayPal, and Mastercard, competes with fintech companies such as BharatPe, Mswipe, Paytm, and Razorpay

Ex-BharatPe MD Ashneer Grover to raise $200-300 million for new venture

Ashneer Grover, who is currently in the US, may sell his BharatPe stake or raise fresh capital by issuing a stake in the new company

BharatPe sees more high-profile exits as Nathani resigns after Grover

After facing the months-long Ashneer Grover saga, fintech platform BharatPe is witnessing some high-profile exits and now, its founding member Satyam Nathani has resigned

Third major exit at BharatPe as founding member Satyam Nathani quits

He was to play a key role in Unity SFB, which was acquired through a BharatPe-Centrum Financial JV; CRO Nishit Sharma, head of institutional debt partnerships Chandrima Dhar had resigned earlier

Sequoia to harden compliance amid trouble in India, SE Asian portfolio cos

The VC fund will undertake governance trainings for founders and senior management, implementation of whistleblower policies, more independent board representation