New Delhi : BharatPe's co-founder and ex-managing director Ashneer Grover had filed a petition against the company, which he has now withdrawn. In fact, Ashneer had filed a petition against the National Company Law Appellate Tribunal i.e. NCLT, accusing the board of directors of financial technology company BharatPe of oppressive conduct and mismanagement.
It is noteworthy that Ashneer Grover had signed an agreement with the company on 30 September 2024. The counsel appearing for Ashneer Grover filed an application to withdraw the petition and also presented a copy of the contract before the NCLT. The NCLT order dated October 14, 2024 said, “During the pendency of the said petition, the parties have reached a settlement.
A copy kept on record
The agreement has been executed on 30 September 2024, a copy of which has been kept on record. The settlement applicant i.e. the petitioner in the main company petition has sought liberty to withdraw the company petition.” “The applicant is given liberty to withdraw the company petition and the same is dismissed as withdrawn,” it said. At present the IA is being disposed of.”
Petition withdrawn from NCLT
Apart from this, Grover also withdrew his petition from NCLAT on October 17, in which he had sought early hearing of the case in NCLT. Financial technology company BharatPe recently settled with its former co-founder Ashneer Grover. With this, the legal and public dispute that had been going on for months between the two came to an end.
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Will not be connected to BharatPe
Let us tell you that BharatPe had earlier announced that it has reached an agreement with former co-founder Ashneer Grover, who will no longer be associated with the company. “Under the contract, Grover will not be associated with BharatPe in any capacity nor will he hold any shareholding in the company,” the company said in an official statement. Ashneer Grover has worked as the co-founder of BharatPe, a famous fintech company in India.
(with agency input)
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