Not Terminated Services Of Anyone ‘At This Stage‘ — BharatPe Clarifies After Reports Say Ashneer Grover May Be Fired

BharatPe, which gives shop owners a platform to accept payments from any payment app for free, on Saturday released a statement amid growing speculation of its co-founder Ashneer Grover.

New Delhi: Denouncing the earlier speculations of the sacking of its co-founder Ashneer Grover, BharatPe has released a formal statement saying that we have not terminated the services of any employee and the reports of sacking are baseless and untrue. 

"The board of BharatPe has not terminated the services of any employee at this stage. Reports suggesting any termination are baseless and untrue,"  a BharatPe spokesperson said in a statement on January 29.

"The Board remains committed to an independent and thorough audit process. No action has been taken or will be taken till the audit has been completed," the spokesperson added.

Earlier, According to a Reuters report, the audit will assess if senior executives of BharatPe are making internal disclosures in a proper way about personal investments, and check for conflicts.

"The Board of BharatPe is committed to the highest standards of corporate governance at the company and is doing an independent audit of the company's internal processes and systems," the company said in a statement.

"BharatPe, through its legal firm, Shardul Amarchand Mangaldas has appointed Alvarez and Marsal, a leading management consultant and risk advisory firm to advise the Board on its recommendations," it added.

On January 19, Grover had said he was taking voluntary leave until March. The company has come under intense scrutiny after an expletive-laced conversation allegedly between cofounder Ashneer Grover and a Kotak Mahindra Bank manager leaked earlier this month on microblogging site Twitter.

Madhuri Jain Grover, Grover’s wife who is head of controls at BharatPe, was also part of the conversation, and she has also reportedly gone on leave. The audio clip had the couple allegedly insulting the manager for not getting a shared allotment in Nykaa's initial public offering (IPO). 

The Grovers received massive backlash on social media.

Meanwhile, Ashneer Grover remained in the news with his presence on the popular business reality shows Shark Tank India on TV, and his comments on the entrepreneurs pitching for funds that many found rude.