New Delhi: Refuting earlier speculations about the sacking of its co-founder Ashneer Grover, BharatPe has issued a formal statement saying that we have not terminated the service of any employee and the reports of sacking are baseless and untrue.
A BharatPe spokesperson said in a statement on January 29, “BharatPe’s board has not terminated the services of any employee at this stage. Any suggestion of dismissal is baseless and untrue.”
“The board is committed to an independent and thorough audit process. No action has been or will be taken until the audit is completed,” the spokesperson said.
Earlier, according to a Reuters report, the audit will assess whether senior BharatPe executives are making appropriate internal disclosures about individual investments, and investigate conflicts.
“The board of BharatPe is committed to the highest standards of corporate governance in the company and is conducting an independent audit of the company’s internal processes and systems,” the company said in a statement.
BharatPe, through its law firm Shardul Amarchand Mangaldas, has appointed Alvarez & Marsal, a leading management consultant and risk advisory firm, to advise on the recommendations of the board.
On January 19, Grover had said that he was taking voluntary leave till March. The company has come under intense scrutiny following an alleged conversation between cofounder Ashneer Grover and the manager of Kotak Mahindra Bank earlier this month on microblogging site Twitter.
Madhuri Jain Grover, Grover’s wife, who heads the controls at BharatPe, was also part of the conversation, and she has reportedly gone on leave. In the audio clip, the couple allegedly insulted the manager for not getting a shared allotment in Nykaa’s initial public offering (IPO).
Grovers received an overwhelming response on social media.
Meanwhile, Ashneer Grover remained in the news with his appearance on the popular business reality show Shark Tank India on TV, and his comments on pitching for funds by entrepreneurs were found rude by many.
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