Ashneer Grover, cofounder of BharatPe, has resigned from the company and its board of directors, capping nearly two months of high drama that began when an audio clip of him allegedly abusing a Kotak Mahindra Bank employee surfaced online. Grover, the managing director of BharatPe, stated in an email to the fintech's board that he had been "vilified" and "treated in the most disrespectful manner" since the beginning of the year.
The resgination comes just days after the SIAC denied Grover's request to halt the company's third-party governance review. Grover claimed that he and his wife, Madhuri Jain Grover, were constantly vilified in public by the board and investors. He claimed that instead of having a conversation, investors were more willing to believe gossip and rumours about him.
"I write with a heavy heart because today I am being forced to say goodbye to a company in which I am a co-founder." With my head held high, I declare that this company is now a leader in the world of fintech. Unfortunately, since the beginning of 2022, I've been embroiled in baseless and targeted attacks on me and my family by a few individuals who are willing not only to harm me and my reputation, but also to harm the reputation of the company, which they ostensibly seek to protect."
Grover claims that he is now wasting his time fighting a long, lonely battle against his own investors and management, despite being celebrated as the face of Indian entrepreneurship. Unfortunately, the management has lost sight of what is truly at stake – BharatPe, he said.