Mon Sep 30 03:07:36 UTC 2024: ## BharatPe and Ashneer Grover Settle Legal Battle, Ending Bitter Public Dispute
**New Delhi, India** – Fintech unicorn BharatPe and its co-founder Ashneer Grover have reached a settlement, ending a long-running legal battle and public feud. The agreement, announced Monday, sees Grover severing all ties with the company and relinquishing his shareholding.
The settlement brings an end to years of legal disputes stemming from Grover’s resignation in February 2022. The former Shark Tank India judge and his family will relinquish their 8.5% stake in the company, with around 4% being returned to BharatPe and the remaining 4-4.5% held in a family trust.
Grover will retain common shareholder rights, while BharatPe retains the right of first refusal if the family decides to sell their stake.
In a statement, Grover said, “I will no longer be associated with BharatPe in any capacity, nor be part of the capital table. My remaining shares will be managed by my Family Trust. Both parties have decided not to pursue cases filed…”
The settlement also involves the dropping of cases filed by BharatPe and its investors against Grover and his family with the Economics Offence Wing (EOW).
Since his resignation, the two parties have been involved in a public spat, with accusations and counter-accusations flying between them. BharatPe’s parent company, Resilient Innovations, alleged financial irregularities, while Grover countered by calling it a witch-hunt.
The settlement clears the way for BharatPe to pursue a public market listing within the next 24 months. The company has seen its revenue grow fivefold since its last funding round in August 2021, reaching $260 million as of March 31, 2024.
BharatPe, last valued at $2.7 billion, has expressed its well wishes for Grover while moving forward with its future plans.
First Piper 