scorecardAshneer Grover mocks former SBI chairperson and BharatPe CEO's ability to run fintech business
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Ashneer Grover mocks former SBI chairperson and BharatPe CEO's ability to run fintech business

Ashneer Grover mocks former SBI chairperson and BharatPe CEO's ability to run fintech business
Business2 min read
  • Ashneer Grover, along with his wife Madhuri Jain, are not part of BharatPe anymore due to alleged "misappropriation of company funds".
  • Rajnish Kumar, former chairperson of State Bank of India (SBI), was appointed as the chairperson of BharatPe last year.
  • Grover has alleged that BharatPe closed the January-March quarter with ‘degrowth’ and ‘maximum cash burn’.
Former cofounder and managing director of BharatPe, Ashneer Grover, on Thursday once again hit at the board members of the fintech company, saying snatching the keys and running a corner shop are two different skill-sets.

Grover was stripped of all company titles, last month, over alleged "extensive misappropriation of company funds" and using "company expense accounts" to "enrich themselves and fund their lavish lifestyles".

"So I just heard @bharatpeindia closed its first quarter of 'degrowth' and 'maximum cash burn' under able (sic) leadership of Rajnish Kumar and Suhail Sameer. 'Chaabi chheenna and hatti chalana do alag alag skills hai !' Ab Nani yaad aayegi - markets are the ultimate test & truth," he posted.

Rajnish Kumar is the former chairperson of State Bank of India (SBI). He has over four decades of experience in the Indian banking industry. During his tenure, SBI focused on its digital drive with the introduction of the “You Only Need One” platform. He was also in-charge of managing the bailout of Yes Bank of 2020.

Kumar was appointed as the chairperson of BharatPe last year.

Suhail Sameer, the current chief executive officer (CEO) of BharatPe, too comes with over two decades of experience. He has been a managing partner at investment firms like OTP Venture Partners and RPSG Ventures. He also led Guiltfree Industries Limited as a CEO.

Grover, also a popular judge on the reality show Shark Tank India, has accused BharatPe CEO Sameer of siding with the investors to remove him from the company.

After reports surfaced that government regulators may expand their probe into BharatPe's financial books after the Ashneer-Madhuri Jain saga, the fintech platform said last month it will fully comply with the law of the land.

The company sacked Ashneer's wife Madhuri Jain after the probe found misappropriation of funds during her time as head of controls, while Ashneer quit as BharatPe accused him, his wife and their relatives of being engaged in extensive misappropriation of company funds and grossly abusing company money to fund their lavish lifestyles.

Amid the Ashneer Grover-BharatPe tussle, the fintech platform's cofounder Shashvat Nakrani had said that the whole episode is an aberration and not the norm and the company will turn this crisis into an opportunity.

(With inputs from IANS)

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