Ashneer Grover’s alleged misbehaviour towards Kotak employee: BharatPe faces independent audit

The company through its legal firm, Shardul Amarchand Mangaldas has appointed Alvarez and Marsal, a leading management consultant and risk advisory firm to advise the Board.

Published: 30th January 2022 08:26 AM  |   Last Updated: 30th January 2022 08:26 AM   |  A+A-

BharatPe co-founder Ashneer Grover

BharatPe co-founder Ashneer Grover (Photo| YouTube Screengrab)

By Express News Service

BENGALURU:  The plot around Ashneer Grover’s alleged audio clip of abusing a Kotak employee, and his leave of absence soon after that, has thickened on Saturday, as fintech firm BharatPe’s board said it has ordered an independent audit of the firm’s internal process.

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

The company 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.

BharatPe said, “The Board strongly believes in protecting the interests of all stakeholders, including customers, employees and partners.”

This internal audit comes days after BharatPe’s co-founder and MD Ashneer Grover took voluntary leave from the company till the end of March.

And if reports are to be believed there’s more to the internal audit order than meets the eyes.

According to reports, Ashneer’s wife Madhuri Jain Grover, who is head of controls in BharatPe, has also gone on leave and that with the company undertaking an independent audit, there could be governance-related issues at BharatPe that could now come to the fore.

Reports also point out that this independent audit is not only on account of the legal notice, and that probably indicates that the scope of investigation has expanded.

When contacted, BharatPe refused to comment on Madhuri’s exit.

It also clarified that the Board has not terminated the services of any employee at this stage.

“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 company said in a statement.

Earlier, an audio clip, allegedly of Grover abusing and threatening a Kotak Mahindra Bank staff for missing out on Nykaa’s IPO went viral on social media. The couple had also sent a legal notice to Kotak.

Founder’s wife goes on leave

Founder Ashneer Grover’s wife Madhuri Jain Grover, who is head of controls in BharatPe, has gone on leave. BharatPe refused to comment on Madhuri’s exit.

The firm said it has not sacked any employee.



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