Indian fintech unicorn BharatPe has appointed three top executives in the governance and compliance verticals. This move is in line with the Gurugram-based company’s endeavour to build an organisation with high levels of corporate governance, compliance and data security.
According to a statement released by the company, Ambuj Bhalla has been appointed as the Chief Information Security Officer. Prior to joining BharatPe, Ambuj was the Head of Cyber Security at InterGlobe Aviation Ltd.
BharatPe has also appointed Rahul Bhatia as the Head of Internet audit. Bhatia is a chartered accountant who in his career, he has led the Financial Services - Risk Advisory Practice for PricewaterhouseCoopers (North).
And finally, Ravinder Oberoi has been appointed as the Head of Compliance. He has domain expertise in RBI Regulatory Compliances including digital lending, internal audit, risk management and operational processes.
Commenting on this development, Shashvat Nakarani, Founder of BharatPe, said that as they get ready for an Initial Public Offering (IPO), it is imperative to give data privacy, cyber security, corporate governance and compliance the “highest priority.”
He also said, “I am pleased to welcome these experienced professionals in the BharatPe team and I am confident that their diverse experience and in-depth knowledge in their specific domains will enable us to not only build best-in-class fintech products with enhanced security architecture, but also ensure strong corporate governance and compliance across the organization.”
BharatPe is in the middle of several predicaments. Suhail Sameer, who had been overlooking the company’s operations ever since co-founder Ashneer Grover was ousted last year, stepped down recently. Nalin Negi who was the Chief Financial Officer has stepped in as the interim CEO.
Meanwhile, co-founder Bhavik Koladiya has also dragged his former partner (Grover) and BharatPe to court to reclaim his shares in the company.
The company and Grover are already in the middle of a courtroom battle. Last month, the company filed a civil case at the Delhi High Court and a criminal complaint with the Economic Offenses Wing against Grover and his family members for misappropriation of funds, among other claims. The fintech company also filed an arbitration under the Singapore International Arbitration Centre (SIAC) rules to restrict him from vesting his 1.4 per cent shares in the company.
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