News Brief
BharatPe Files Fresh Case Against Ashneer Grover In Delhi HC For Sharing "Confidential Information" On Social Media
Ashneer Grover at a court
Resilient Innovations, the parent company of fintech organisation BharatPe, has recently lodged a new lawsuit in the Delhi High Court. The suit seeks a restraining order against cofounder Ashneer Grover, accusing him of disclosing "confidential information" pertinent to the company, Economic Times reported.
The beleaguered founder took to social media platform X, last week to share details about the equity distribution and secondary aspects implemented during the company's Series E fundraising round. This round was spearheaded by Tiger Global and included participation from Dragoneer Investor group among others. However, he removed that post later.
The fintech specialising in payments and financial services was valued at $2.86 billion following a fundraise of $370 million.
During the hearing at the Delhi High Court on Friday (24 November), BharatPe's legal representative argued that Grover breached his employment contract by disclosing confidential company information.
The firm's legal representative also contended that despite his resignation, Grover still possesses sensitive company data, thereby breaching the company's employment contract.
The plea was heard by Justice Sachin Dutta. Grover's attorney presented an apology on his behalf for his behavior of posting confidential company data, which the Court accepted.
The attorney further explained that his client needed this information to protect himself in response to the multiple cases filed against him.
The issue concerning Grover's ongoing possession of confidential corporate data will be addressed during the subsequent court hearing for the case.
Senior advocate Akhil Sibal represented BharatPe, with Anuj Berry from Trilegal providing the briefing. On the other hand, Giriraj Subramanium, another senior advocate, represented Grover.
In addition to the civil lawsuit that BharatPe's parent company has lodged at the Delhi High Court against Grover and his relatives, a new case has emerged. This seeks damages of up to Rs 88.67 crore for the alleged misappropriation of funds.
Even so, the two parties have been in conflict due to Grover's social media behavior. BharatPe has sought a legal restraining order, alleging that Grover has used inappropriate and offensive language against the company in his online posts.
Earlier this week, Grover was questioned by the Economic Offences Wing (EOW) of the Delhi Police in connection to an alleged fraud case. This followed a status report from the EOW revealing that at least eight HR consultancy firms were connected to the relatives of Grover's wife, Madhuri Jain. Jain had previously served as the head of controls at the fintech company.
A week ago, Grover and his spouse Jain were detained at Indira Gandhi International Airport in Delhi due to a lookout circular (LoC) that had been issued against them.
The issuance of the LoC against the couple was initiated by the Delhi Police EOW, who are currently investigating claims of financial impropriety attributed to the Grovers.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
