Ashneer Grover Celebrates Court Victory Over BharatPe Shares Dispute
- ByStartupStory | February 24, 2024
Ashneer Grover, renowned for his contributions to the startup sector and former co-founder and MD of BharatPe, announced his courtroom victory on social media platform X. Grover expressed joy over the judgment in his favor by Hon’ble Justice Sachin Datta against Shashvat Nakrani. “Another day – Another WIN in Court! Nothing hits you like SUCCESS!! My shares in BharatPe worth ₹1,800 crores are mine,” Grover posted before swiftly deleting the content.
Grover credited his success to truth, proper conduct, patience, and his legal representative, Giri Subramaniam. He praised Subramaniam’s prowess in facing formidable senior lawyers like Mr. Rohatgi. “Reasons for judgments coming in my favor – 1) Truth and facts on your side, 2) Conduct befitting the facts, 3) Patience, and 4) Giri Subramaniam – hot shot lawyer with conviction and confidence to hold his own against formidable senior lawyers like Mr. Rohatgi. What fun!” Grover elaborated.
The Delhi High Court dismissed Shashvat Nakrani’s appeal against a previous order declining a restraining order against Grover. The case revolves around allegations of unpaid shares. Both parties agreed to expedite the trial, with the single judge bench directed to frame the issues on February 28. Nakrani’s counsel cited a similar case involving co-founder Bhavik Koladiya, where Grover was directed not to create third-party rights.
Grover’s counsel refrained from commenting on third-party rights, and the court noted the extensive hearing despite the defendant’s lack of response. Koladiya’s suit to reclaim shares is pending, with Grover committing not to create third-party interests in shares transferred by Koladiya. Grover resigned as MD of BharatPe on February 28, 2022, amidst the circulation of the agenda for a board meeting focusing on a report detailing his conduct.
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