BharatPe board finally makes a stand against Ashneer Grover


Aditi Shrivastava

156 reads

Aditi Shrivastava

156 reads

The payments unicorn is suing the ousted co-founder over alleged financial irregularities. The move may set an example for boards and investors in other companies to put their house in order

December 09, 2022


The constant drumbeat of distressing news in 2022 — cash drought, potential valuation markdowns, faltering businesses and layoffs — has relegated the 2021 boom to being a distant memory. It’s happened before, in 2016-17. A cycle of excess unravelled as suddenly as it began, forcing startups to wise up. 

This time, there is an additional element in the reckoning across India’s tech world: companies face serious questions of corporate governance. And unlike in the past when boards and investors avoided hard calls, resolving things behind closed doors, a clean-up is being attempted very publicly.

First shots: Payments player BharatPe has moved court against co-founder Ashneer Grover and his wife, Madhuri Jain, over alleged financial irregularities. This is likely the first instance of an Indian unicorn suing a co-founder.

It has also filed for arbitration in Singapore to claw back his unvested shares in the company, Moneycontrol reported on Friday. The steps come months after it slung Grover and Jain out of the organisation. 

Read this article for free

Sign in using


Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service


Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.

For subscribers only

Premium Reads


View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.