Ashneer Grover Settles with BharatPe, Forfeits Shares

• BharatPe and Ashneer Grover have reached a settlement after months of litigation involving allegations of fraud and dishonesty.
• Grover will transfer 2.5-3% of his 8.4% stake to the company and settle with former co-founder Bhavik Koladiya by returning 3.10% of his stake.
• The settlement was driven by the risk of Grover's wife, Madhuri, facing arrest, leading to significant loss of control for Grover.
• Both parties have agreed to drop their legal cases, and Grover will no longer be associated with BharatPe.
• The settlement clears the path for BharatPe to raise its next round of funding, providing legal certainty for potential investors.

Source: The Arc