In fresh legal trouble for Ashneer Grover, Resilient Innovations, the parent firm of BharatPe, has filed a case in the Delhi high court against the ex-Shark Tank India judge, seeking an injunction after he divulged what it said was ‘confidential’ information about the fintech company, in public domain.
The hearing against Grover, BharatPe’s estranged co-founder, took place on Friday, reported Economic Times.
What is the issue?
In a post on X (formerly Twitter), Grover put out details regarding the equity allocation and secondary components undertaken during BharatPe’s Series E funding round, led by Tiger Global, with participation from Dragoneer Investor group, among others.
At the $370 million fundraise, the Delhi-based fintech major got valued at $2.86 billion.
The social media post, meanwhile, has since been deleted.
What happened inside court?
Appearing before Justice Sachin Dutta’s bench, BharatPe’s counsel alleged that the 41-year-old, who resigned in March 2022, continues to hold ‘sensitive’ information about the company– including the details revealed by him – despite his resignation, and is, therefore, in violation of his obligations under an employee agreement.
Grover, through his counsel, submitted an apology, which was accepted by the bench, though he stated that the information was ‘necessary’ due to the various proceedings instituted against him.
The matter will now be taken on the next date of hearing.
BharatPe vs Ashneer Grover
The case is in addition to the earlier civil suit filed by Resilient Innovations against the entrepreneur; the former has accused the latter and his family of causing damages to the company to the tune of about ₹81.3 crore. That case is being heard by a separate bench of the high court.
