BharatPe share dispute: Delhi HC disposes off appeal against Ashneer Grover

The Delhi High Court has disposed of an appeal against former Managing Director of BharatPe Ashneer Grover, which restrained him from selling or alienating shares in the company. BharatPe co-founder Shashvat Nakrani had filed a plea seeking to restrain Grover from selling or transferring shares he had sold to him.

The order was passed by single-judge Justice Sachin Datta. However, Justice Datta directed Grover to inform the Court when he decides to sell or transfer the shares in question, according to the Bar and Bench report.

Reacting to the judgment, Grover said: "What a good day and great outcome in Hon’ble Delhi High Court today! Winning streak continues!!"

He added: "I’ll attribute the outcome to 1) Simple truth and case facts, 2) Conduct befitting the truth, 3) Patience and Faith in Courts and 4) Giri Subramaniam - my sole lawyer in all litigations - who knows case inside out and has the best understanding of laws - and more importantly conviction and confidence to stand his own against formidable battery of senior lawyers like Mr. Rohatgi."

BharatPe was founded by Shashvat Nakrani and Bhavik Koladiya in March 2018. Both of them owned 50% stake in the firm. Ashneer Grover joined as a third co-founder and board member in July 2018. Later, Grover purchased 3,192 shares from Nakrani and Koladiya, which started the legal dispute between Grover and Nakrani.

In December 2022, BharatPe filed a civil suit in the Delhi High Court against Grover and his family and sought up to Rs 88.67 crore in damages for alleged embezzlement of funds. The company had also sought an injunction against Grover from revealing confidential information about the company.