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Ashneer Grover's plans ahead: 'I'm a builder interested in creating value'

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Ashneer Grover's plans ahead: 'I'm a builder interested in creating value'


Exclusive: BharatPe founder Ashneer Grover resigned as the managing director and director of the company's board on Tuesday. He said he will not proactively take a legal route

Ashneer Grover's plans ahead: 'I'm a builder interested in creating value'
BharatPe founder Ashneer Grover will continue to hold an 8-9 percent stake in the fintech firm and at present, the company is worth $6 billion, he told CNBC-TV in an exclusive interview on Tuesday, hours after resigning as Managing Director and Director of the company’s board.
“I believe the company is worth $6 billion today basis the last fundraising round… Shares I own in BharatPe cannot be wrested away from me,” Grover said amid a spate of controversies.
Even as he refused to publicly comment on his next step, he said he will not proactively take the legal route against BharatPe but will definitely react. “I am a builder, interested in creating value… not here to win pyrrhic victories,” he said.
In his resignation letter, Grover said he and his family have been embroiled in baseless and targeted attacks. This is days after the services of his wife Madhuri Jain Grover as head of controls were terminated on allegations of misappropriation of funds.
Following his resignation, BharatPe board issued a statement saying, Grover quit the top posts just minutes after receiving the agenda, which includes the PwC audit report, for the upcoming board meeting. The board reserves the right to take action based on the report’s findings, it added.
BharatPe board is due to meet this evening to take Grover’s resignation as on board and to review the results of an external audit report, a spokesperson of the company said.
According to sources, Grover has been invited to the board meeting where it will review the reports and issue a statement, irrespective of whether the former attends attend the meeting or not.
Grover’s resignation could be taken as a resignation without investor consent or he can be terminated, they said. In the event of his termination, his restricted shares can be bought back and the rest of his stake would remain with him, they said.
“Why is the board sending an important meeting invite at 11.56 pm in the night,” he said, adding that he would not attend the meeting when he has already resigned. He also said his resignation was not a reaction to the board meeting agenda and that the decision was taken in the last two days.
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