John Sarkar & Reeba Zachariah | TNN Delhi / Mumbai: The Mahindra Bank box on Sunday warns legal action against the founder of Bharat PE Asheer Grover and his wife Madhuri for allegedly using language that is not separated and the threat to the employees of the lawser after serving legal notifications to the MD & CEO of Uday Box and three members His senior management team, accused the bank failed to provide financing and allocate shares during the IPO Nykaa.
Gremver claims that they have planned to invest RS 500 Crore in Nykaa through the IPO Box Financing Service.
According to the notification of October 30, 2021 sent by the Regstreet Law Firm on behalf of Grover, the box has convinced the stock pair allocation in Nykaa IPO but then it was informed that it would not be able to provide IPO financing because “fii erratic” movement “and” loan interest rates are very high “.
“The rejection of the box to provide IPO financing to our clients at the eleventh clock has fully paralyzed (they) the ability to participate in the IPO and seize the investment opportunities they have told the box more than a month earlier from the IPO launch,” Read the notification signed by partners Regstreet Sumit Agrawal.
Grovers seek compensation which includes a list of increases have shares worth Rs 500 Crore allocated to them in Nykaa IPO.
The notification added that the box had provided financing in Nykaa IPO to the Bharatpe Somail Sameer CEO.
However, the box denied any violation in his financial assistance to Grovers.
“Your clients are very aware that financial assistance is on loan policies and that no contracts are concluded or the sanctions letter carried out by (they).
Therefore, your client does not have a contractual or other right to enforce (box) as possible allegedly or otherwise A clip of audio leaking calls allegedly displays abuse of Asheerers and gives the threat of death to the employee’s employee for failing to provide funds for the IPO to become viral.
Ashneer is then called the Fake Audio Clip Dirty, which (boxes) and employees have the right to take appropriate legal steps.
“This case gave a new touch to the deadlock between Asheerer, a former box employee and new technology entrepreneur and Uday Box, one of the richest bankers in the world.
Bharatpe, an unicorn with a $ 1 billion rating, has recently been formed into the main business domain of Uday Box after purchasing Punjab and Maharashtra cooperative banks in partnership with a centrum.
“The statement of your client that there is no controlled contract that supports (grover) for the purposes of IPO financing, it is surprising, given the repetitive guarantee given by (they) otherwise.
(Grover) backup their rights to produce conversations between them and your clients exchange WhatsApp, which will strip the falsehood of your client’s case.
Before denying their promises, your client never shows the reluctance or inability to provide IPO financing services to (they) to RS Tone 500 Crore for Nykaa IPO, “Read November 8, 2021 Counter-Reply by agrawal.
“(Grover) loudly denies the alkhed allegations relating to languages ​​that are not the same or dirty ones that have been used by them, or that they have issued a threat to your clients or their representatives at all.
It is clear that your client has compiled this allegation just as a coverblast for Claims made by (Grovers) for violations of various legal liabilities carried out by your clients.
“Reverse turned further states that Grover will” withdraw all banking operations maintained by them with the box “.
Bharatpe did not offer comments on the report, the box, however, confirmed the receipt of legal notice sent by Grover and said that it also answered including “putting on our objection notes to the language used by Grover”.
The right legal action is being pursued, he added.
Lenders, however, do not describe this.
“We want to confirm that there is no violation or violation by the box in any way.”