Ashneer Grover Will No Longer Have Any Association with BharatPe; Legal Cases Withdrawn
BharatPe has finalized a settlement with its former co-founder, Ashneer Grover, bringing an end to their ongoing saga. Under the terms of the agreement, Grover will not be affiliated with BharatPe in any capacity and will relinquish any shareholding in the company.
As part of the settlement, certain shares owned by Grover will be transferred to the Resilient Growth Trust for the benefit of BharatPe, while his family trust will manage the remaining shares. Both parties have agreed to drop all civil and criminal cases filed in various courts.
In a statement on Twitter, Ashneer Grover expressed his confidence in the management and board, stating,
“I repose my faith in the management and board, who are doing great work in taking BharatPe forward in the right direction. I continue to remain aligned with the company’s growth and success. I will no longer be associated with BharatPe in any capacity, nor will I be part of the capital table.”
I have reached a decisive settlement with BharatPe. I repose my faith in the management and board, who are doing great work in taking BharatPe forward in the right direction. I continue to remain aligned with the company’s growth and
success. I will no longer be associated with… pic.twitter.com/gB3Pla5qQZ— Ashneer Grover (@Ashneer_Grover) September 30, 2024
Law firms Sim and San and Trilegal led the settlement discussions on behalf of BharatPe, along with BharatPe General Counsel Sumeet Singh.
The Sim and San team was led by Senior Partners Mohit Goel and Sidhant Goel, along with Managing Associate Deepankar Mishra and Senior Associate Aishna Jain who structured and drafted the settlement agreement and documents and led negotiations on behalf of BharatPe.
Another team of Sim And San, comprising Jytoika Jain, Principal Associate, Karmanya Dev Sharma, Senior Associate, and Aditya Maheshwari, Senior Associate, advised on the legal aspects of enforcing the structure.
Trilegal’s team, led by Anuj Berry and Sourabh Rath led the Trilegal team, which also included Counsel Bhargavi Vadeyar, Senior Associate Megha Janakiraman, and Associates Vibhore Yadav and Aparajito Sen.
They also provided corporate law advice, involving a larger team of partners and associates including Partners Harsh Maggon, Ganesh Rao, Sneha Vardhan and Adhunika Premkumar along with Shubhaang Sinha (Counsel), Vinit Patwari (Counsel), Wamika Jha (Senior Associate), Vishesh Mehrotra (Senior Associate), Jessica Thakkar (Associate), Aman Jha (Associate), Divya Upreti (Associate), Vaishnavi Patel (Associate), Aditya Sarkar (Associate)
A team from Shardul Amarchand Mangaldas represented the matter before the Singapore International Arbitration Centre (SIAC), led by Disputes Partner Tejas Karia, alongside Partner Aashish Gupta, Principal Associate Krishna Tangirala, and Senior Associate Chandni Ghatak.
MZM Legal addressed the criminal matters with a team led by Partners Zulfiquar Memon, Parvez Memon, Vivek Jain, and Mrinal Bharti.
For Ashneer Grover, the settlement discussions were spearheaded by Advocates Giriraj Subramanium and Shonak Sharma, with their team also including Sidhant Juyal, Akhilesh Talluri, and Veda Singh.
At the SIAC, Ashneer Grover was represented by a team from Sarvada Legal, consisting of Atul Sharma, Abhishek Anand, Rahul Kumar, and Manini Brar.
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