BharatPe has successfully settled its long-standing dispute with former co-founder Ashneer Grover, marking a significant resolution for both parties. Under the terms of the agreement, Grover will no longer have any association with BharatPe, nor will he retain any shareholding in the company.
As part of the settlement, certain shares owned by Grover will be transferred to the Resilient Growth Trust, which is designed to benefit BharatPe. Additionally, Grover’s remaining shares will be managed by a family trust. Both parties have also agreed to withdraw any legal actions against each other.
A spokesperson for BharatPe stated, “We wish Mr. Grover well. BharatPe continues to focus on delivering industry-leading solutions to its merchants and customers, driving growth with profitability.” This settlement allows BharatPe to redirect its efforts towards enhancing its services and strengthening its position in the market.