New Delhi: About a week after the founder of Bharatpe Asheerer Grover, his wife Madhuri Jain Grover – who also works with the company – has followed the suit because the company conducts an independent audit of its internal process and system.
According to sources, Madhuri – which is the control head – has gone leave, and with the company conducting an independent audit, there may be problems related to governance in Bharatpe which can now appear.
When contacted, Bharatpe in a statement said the council was committed to the highest standard corporate governance standards in the company and “conducting an independent audit of the internal process and company system”.
“Bharatpe, through its law firm, Shardul Amarchand Mangaldas has appointed Alvarez and Marsal, leading management consultants and risk advisors to suggest councils on their recommendations.
The council strongly believes in protecting the interests of all stakeholders, including customers, employees, and partners,” said a statement that.
Bharatpe does not comment on Madhuri’s exit.
On January 19, the Bharatpe Co-Founder and Managing Director of Asheer Grover said he took voluntary leave until March.
Earlier this month, an audio clip appeared on social media with grover abuse claims and threatened employees of the Mahindra Bank box because of losing stock allotment during the initial public offering (IPO) from the FSN e-commerce, which operates the fashion and health of the company NYKAA.
Grover quickly denied the clip, said it was “fake” and was released by “Scamster” but then he removed the post.
Then it appeared that he and his wife Madhuri had in October 2021 sent legal notice to the box for failure to provide financing for IPO.
On January 9, Mumbai-based lenders have answered saying they will take legal action against Grover.
The Mahindra Bank box has admitted that the couple in October sent legal notice to him, without describing the same reasons.
Sources say independent audits are not only due to legal notifications, and may indicate that the scope of the investigation has developed.
They added that audits cover areas such as accounting, expenses and recruitment practices.
Bharatpe serves more than 75 lakh traders in 150 cities.
The company has facilitated loan disbursement with a total of more than RS 3,000 Crore for its traders since it was launched.
Bharatpe has collected more than USD 650 million in equity and debt to date.
The investor includes Global Tiger, Dragoneer Investment Group, Syeadfast Capital, Coatee Management, Ribbit Capital and others.