Delhi HC slaps Rs. 2 Lakh Fine on former MD and co-founder of Bharat Pe, Ashneer Grover

The Delhi High Court fined Ashneer Grover, the former Managing Director and co-founder of Bharat Pe, Rs. 2 lakh on Tuesday for spreading inappropriate posts about Bharat Pe despite a commitment to the court that he would not do so.

However, the court denied Bharat Pe’s request that Ashneer Grover be prohibited from posting defamatory content. This decision is based on Grover’s pledge to refrain from sharing any content in the near future, as well as his regret for his earlier actions.

Furthermore, on November 24, Resilient Innovations (the parent company of BharatPe), filed another case in the Delhi High Court stating that Ashneer Grover revealed ‘confidential information’ about the company. In this case, an injunction is claimed.

Earlier this week, Ashneer Grover, the co-founder of BharatPe faced issues and shared details on platform X about the distribution of equity and secondary components involved in the Series E of the company funding round.

The funding round, headed by Tiger Global and including participation from the Dragoneer Investor Group and other partners, raised $370 million with a valuation of BharatPe at $2.86 billion.

However, the tweet was removed by Grover.

Earlier, Ashneer Grover was interrogated by the Delhi Police’s Economic Offences Wing (EOW) in connection with an alleged fraud case.

This event came after the EOW issued a status report indicating linkages between eight human resource (HR) consultancy firms and relatives of Grover’s spouse, Madhuri Jain.