Ashneer Grover, the Co-founder and Managing Director of BharatPe, has taken a voluntary leave till March-end, the company said in a statement on Tuesday.
“Ashneer Grover, our Co-founder and MD, has today informed the Board of his decision to take a voluntary leave of absence from BharatPe till March-end,” the company’s statement said.
“For now, the Board has accepted Ashneer’s decision which we agree is in the best interests of the company, our employees and investors, and the millions of merchants we support each day,” it added.
The development comes amidst the ongoing controversy over a viral audio, in which Grover was being heard using inappropriate language with Kotak Mahindra Bank's employee over Nykaa’s IPO. Meanwhile, the Kotak Mahindra Bank has said that it is going to take legal action against Grover and his wife Madhuri Grover in connection with the matter.
Notably, Grover had previously sent a legal notice to Uday Kotak, the Chief Executive Officer (CEO), of Kotak Mahindra Bank accusing the bank and its management of failure to secure financing and allocation of shares in Nykaa’s IPO.
BharatPe, which provides financial services to 75 lakh merchants across 150 cities, has said that its CEO Suhail Sameer will continue to lead the company.